Week 3 Part B: Developing a Brand

 When going into entrepreneurship, one of the most important things to do is develop your brand. Having a sense of identity, helps establish what your company will stand for and sets the tone of how customers will perceive you. Brand identity is crucial for entrepreneurs because it allows customers to see the purpose, vision, values and mission of the company. 

Being an entrepreneur means that you must spend time deciding what your company will represent. These days companies have become more personal and it's important to understand what impact you would like to leave on your customer. First, it is important that you establish a logo. This will be how people associate you with your brand. It is also very important to stay consistent, because too many logos will make it hard for people to remember or associate you with your product. From there it is necessary to have some type of motto or slogan that is easy to remember and that resonates with customers. Developing a brand means that the face or thing you choose to represent it, not only sticks out but embodies what your company represents and/or stands for. This is also known as brand recognition. 

Brand identity is what sets an entrepreneur apart from their competitors. This starts with image and then must be defined through a mission statement or tagline. This short phrase or sentence should encompass the integrity and heart of a brand. However, it does not need to be a list of products and services. Every company has what they can do, but a tagline is how you set yourself apart.

Throughout this semester I will be helping my mother build her brand. She is starting her own financial company from the ground up and is in the beginning stages. As we talked about her design, she wants green and gold in order to represent wealth. Her business is aimed at helping people get out of debt, budget, finance and find areas for growth. She is about increasing wealth and her logo should represent that. She also believes in the freedom of being debt free, so encompassing the joy of not being financially burdened is something I am trying to encompass in her logo and brand.

During this time, many people have struggled with generating wealth or even sustainability. I believe the best way to build our family brand is to establish loyalty and trust with our customers. Part of brand identity is making sure that you can identify with your target market. Part of branding will be through the personal relationships we build and the impact those relationships will have on future customers. Part of brand recognition and development is through customer service. I think that this is a great way to build them both and I am excited to play around and see what logos and fonts that I can use to best represent our financial group.