There we were, a group of business owners chatting over lunch; we ranged from trainers to property agents to software developers, to health consultants, caterers etc. Suddenly the question "Are YOU the CEO of your company? What do you think the CEO does anyway?" Boyohboyohboyohboy! Did that set the cat among the pigeons as like strutting peacocks we preened our smart answers LOL!
"My customers are my CEO's" (yes, you're right, 'gulp' indeed), "I allow my team members to be my CEO's" "There is only one CEO in my company and that's me" etc., etc. Next question: "If you had to appoint a CEO, what qualities would you look for?" Most people's responses centred around "someone who can get along with people" Hello? The odd response was that the CEO should carry the company's Vision. Hmmmm.
Okaaaay! So now it's clearer as to why teams muddle along just trying to please everyone. Do YOU see it too? So many business owners are in day-to--day 'jobs' instead of living out a Vision because it is unknown. So what you say? Well, that means that competitors can easily encroach on market share because there's no brand to defend, employees will job-hop more frequently because work places are six of one and half a dozen of the other anyway, and worst of all is the high potential of getting caught in suicidal price-wars.
Imagine if Volvo made helicopters and baby carriages; you'd still expect them to focus on safety, wouldn't you? That's what Volvo is associated with - 'safety' is the essence of their brand. Oh yes: Brands enhance value; especially the personal brands that independant distributors need to convey when they represent a global brand.
(btw the CEO's role is to execute the decisions of the Board of Directors while Managing Directors are responsible for the legals and financials. An independant distributor, sole proprietor or SOHO would take on the combination of all the responsibilites)
So maybe you're cracking your head about how to keep your customers loyal and your competitors at bay? May I respectfully suggest that you and your key people have a brain-storming session to identify precisely what the essence of why your customers are coming to you is? Is it 'fun' (Disneyland), 'accountability' (Tan Sri Francis Yeoh), fast-service (Pizza Hut), 'lower pricing' (Ipoh White Coffee), 'compassion' (RSPCA) etc.? Your brand essence is your key strength for sustainable profits and you can build numerous products and services around it. according to even fluctuating market demands.
Want some help with facilitating a brain-storming session? Call me at 6-03-21697704.
BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!
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