This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Better Branding

Arruda says small businesses face two barriers to effective branding: They don't know what would make someone choose them over a competitor and they want to be all things to all people.

The antidote, says Arruda, is self-analysis and choosing a niche audience.

"Fear gets in the way," Arruda continues, for small businesses, which believe they will lose market share by focusing on a target audience. "They want to be all things to all people," he says, but, as we all know from our everyday lives, this is never possible.

Shoestring Branding

Wowing the public with that pithy and powerful message can be easy and cheap, says Woodruff.

"Going to a big ad agency doesn't exist anymore as part of small business," says Woodruff. On the Internet, one can find branding resources that fit the smallest budget.

In launching his company, Woodruff called on his graphic designer friends for logo help and he came up with his own tagline and blog, which was quite helpful in establishing his brand.

A Web domain name costs around $20, and he established a site within hours without consulting a single major-league Web programming resource.

Woodruff also recommends launching an email newsletter with an automated service. "I can get my name and brand in front of people every week [for] maybe $300 a year," he says.

Finally, branding has changed since the dot-com era, when the credo was to make as much noise as possible, gain as many eyeballs as you can and worry about the long-term later.

Now, says Woodruff, people are realizing that the branding process is a long-term commitment: "Embed yourself, drip by drip, into people's minds," he says.

Despite the fad of the moment, companies small and large should adhere to the basic tenets of strategy, says Millman.

"Look at the classic Michael Peters, Harvard-Business-School definition of strategy," she says. "Perform activities differently, or perform distinctly different than your rivals."

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs