Why Entrepreneurs should invest in Personal Branding
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Be it a simple food item or a luxury car, we all care about what brand does it belong to. When we hear the name of a brand, we understand whether we should trust it or not on the basis of its reputation. But now it’s not just about the big brands but rather now every individual even possess a personal brand.
With an established personal brand, you get to secure a position in your industry that no one else could ever take. Moreover, it will also let you land more potential jobs or clients because of your renowned expertise in your niche.
“With a well-positioned personal brand and an excellent marketing strategy, you will be a strong name in the market and this will bring several benefits to you and your company. Each entrepreneur is unique and this is a very important factor when creating a relationship with people and the market. A personal brand of an entrepreneur will prevent him from being stuck in just one segment, the entrepreneur can work in several segments influencing people and the market,” believes Renan Gohino, CEO and Co-Founder of Flirtar Inc.
When you like or dislike something about a brand, you tell about your experiences to the people around you either through direct or indirect communication methods, this way of marketing is called “word of mouth” marketing. Having a personal brand allows you to get your name promoted as per your client’s experience with you.
The more you succeed to promote your brand the more you get more recognition in your industry. The best way to promote a personal brand is through adding more people in your professional network and maintaining a healthy relationship with them.
“It’s all about your relationship and how you value your resources in a business. Take the example of one of my idols Mr Ajay Piramal, the owner of the multi-billion USD Piramal enterprises. He has an enviable track record of generating a crazy amount of shareholders wealth in the last three decades. Based on his relationship with his clients he could crack deals at 1/7th of revenues to exit something at 7x Revenues. So if one can have a connect with his dealer, distributor, client, consumer, employees and looks after them, the brand gets not only boosted but brings further business in terms of mouth word references and good PR, mind you it compounds with time too, ” believes Soumya Malani, CEO of ShareBazaar.
Personal Branding is not about shouting out your name loud but rather it is about developing your skills in your niche and proving yourself as an expert. You need to be specific about what you do and how you can help others with your knowledge and skills, no matter what medium do you choose for it. As a result, it will just not help you in getting more clients but will also allow investors to have a look at you.
“For personal branding, social media and internet is the best medium. Share your thoughts, experiences with your audience and it will help in creating an image in the eye of investors as well,” said Shweta Agrawal, Founder of Voodly.
If you really wish to stand out from the crowd and build your own space in the industry, you have to invest in personal branding. Without having a powerful personal brand, thriving is not possible because whatever niche you choose, you’ll have to face competition. A powerful personal brand will just not prove you as a trustworthy professional in your niche but will also help you in winning the race.