After being in various business conferences, seminars and conventions, I have observed one common denominator among successful businessmen, they have established the identity of their business. No successful businessman have grown without having a distinct identity specially to their market. Be it good or bad, best or worst, each and every business should have an identity.
Having an identity distinguishes you from the general service providers or generic products out in the market. You may be offering a similar product or service in the market but because you are distinct and known to your market, you may have the edge over your other competitors. Your business identity is something that could affect you both positively or negatively. Say for example in the food industry, you have the same menu with your competitors except that you have put a little creativity to your menu by naming popular celebrities or the like with the menu.
Another aspect that can establish your market identity is your quality of service. If you are known to deliver the service as advertised, you could possibly attract more customers since you are true to your word and is not a sales-talking businessman. If you also had a distinct way of doing your service for example, singing while serving them, it can add a value in the service that customers might get attuned to and expect every time they transact with you.
There are a number of ways how you can attain a distinction in your business. A lot of business entities did not have that distinction before but in time, they realized that establishing an identity to the public gives more opportunities to their businesses. No known business organization would just operate being known as a regular player in the market, they would want supremacy, power and leverage that would be provided by having their own identity.
Having an identity can give supremacy since being identified, you are superior to your other competitors in a way that your brand or identity is well introduced to the market and is known to be the best in the field. On the other hand it could also give a connotation to your market that you are offering inferior quality products or services which could possibly result to loss of market share.
It gives you power because if you get to the point where your products or services are known to the public to offer superior quality, you might not need to advertise or introduce it anymore. Being known as the market leader in the field gives you power, thus every successful business nowadays don’t settle for running their daily operations efficiently but also would want to be known and famous in the field.
Most of all, after attaining supremacy and power through your identity, this could give you leverage once you have established your identity and are known to the public, you are also instilled to have such identity that they can depend on whenever the need for your arises. Having an identity increases the value of your business but at the same time, when failures or threats come to your business, that identity might get damaged or worse, be a history. Nonetheless, maintaining such identity would most likely bring good to your business. May you have your distinct business that would be loved by everyone.
Good luck on your business endeavor and thanks for reading.