THE BRANDING IRON – Part I

Before the Logo, Before the Brand

Originally branding was used to identify livestock and each brand was specific to a particular ranch. Locally, brands were readily identifiable to the owner. Today there is a much larger challenge in creating a brand for your company.

With the age of the Internet, the marketplace has exploded worldwide, with millions of companies and individuals attempting to create a brand that will catch the attention of others. Going global has never provided such challenge and such reward.

As much as the goal is ever in sight and there is an anxiousness to “get the horse out of the gate”, initial steps need to be taken to provide the vehicle needed to go worldwide. That is the business plan.

Why is a business plan important? For some, who are not seeking financing, it may seem unnecessary or even a waste of time. The actual process of writing the business plan is the key.

During the process of writing the business plan, the new company is realized on paper. Processes, materials, vendors, partners, employees, competition, its marketing edge — these are all planned out in the business plan. It permits focus on areas of the new company that are often neglected and can produce failure.

The business plan is similar to starting with a wide angle lens and then reducing the width and breadth of the shot until you have the specifics. By going through the process of writing the plan and as each area is focused in on, changes can be made in order to side-step potential problems.

It identifies who your competitors; it identifies marketing vehicles; it identifies the target market; it identifies the potential problems. The business plan, if done properly and in-depth can save a lot of grief in the end.

To begin the business plan, a good first step is to visit the Small Business Administration (SBA). They have step-by-step instructions on how to write a business plan. (http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html)

Another good stop is My Own Business. (http://www.myownbusiness.org/s2/)

There are several other websites that deal with business plans and how to write them. Realize the new company on paper and see the end result prior to making one sales call.

Daye Salander