Steve Strauss wrote the bible on small biz. Literally. In addition to authoring The Small Business Bible, he runs MrAllBiz.com and is a featured columnist for USA Today. He's been studying, writing and speaking about how to grow a successful small business all his life, so email him with whatever leaves you stumped.
Q: In this tightening economy what can I do to distinguish my business?
-- Erin
A: I'm a big believer in the wise words sung to Natalie Wood in the musical
Gypsy:
"I never have to sweat to get paid, 'Cause if you got a gimmick, Gypsy girl, you got it made!"
In small-business terms, having a gimmick means creating a unique brand.
Most small businesses think branding is only for the big guys. But think again: There are 25 million businesses in this country, and 99% of them are small businesses.
That is a lot of competition!
Finding Your Hook
A unique brand creates a hook that people can remember you by. Great brands, big and small alike, evoke an immediate reaction, feeling or belief.
When you think of
McDonald's(MCD Quote - Cramer on MCD - Stock Picks) you probably envision cheap fast food. By contrast, you probably think of
Starbucks(SBUX Quote - Cramer on SBUX - Stock Picks) as a cool place to get a latte and hang for a bit.
For Starbucks, the value of such a brand enables them to charge $3.50 for a cup of coffee.
Your business is both smaller and has more competition than a Starbucks or McDonalds, so having a memorable brand is even more important for you.
Here are two ways to create a great hook:
1. Consider or reconsider your business name.
The name of your business is the single most important tool you have for creating a unique, memorable brand because it is the first -- and sometimes only -- thing people hear about your business.
Steven Strauss
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