Building a strategy for brand growth

Most major brands in the world has started small, and has gained great attention through a strategic plan for growth. Every time I see some CEO telling a reporter from the newspaper or on television, "It 'just exploded - we were not prepared for that," I start counting the days until they say: "It' s just imploded - we were not prepared for this. "

So ... your message is out there. They are doing well. Customers have come to you, and is older than you - or your staff - can handle alone. It 's time to expand, and in other markets, other products, or other industries.

Before doing this, you must make sure you have the money to expand. Nothing pulls a new business faster than a lack of money. I have a friend who owns a wine importing business. They were at the top of their game - they have had exclusive deals with renowned wineries, and sold the wine to the country's best restaurants. However, they decided to cut out the middlemen between them and a few large customers going in the distribution of wine.

Soon, my friend - the president of the company - found himself packing crates of wine in her car and take them to the customers themselves. He had grown too fast and expecting income to scroll faster than was realistic, has started distributing before she had the money to buy trucks or pay the driver. As a result, has lost the time which would normally have spent in contact with the vineyards and customers. The cash flow has become very tight - until sold out distribution and returned to what it was really good at. He says he will return to the distribution of one day - but not until he knows who has the money to do it well.

You must also make sure you have the staff to grow. You can choose to add another office or expand into another market segment - but do not spread too thin. Rest assured that if you grow, you have staff who can do their jobs well and have the same philosophy that you do. Otherwise, you're likely to find themselves wearing many hats to be effective their work - and alienating customers with poor service.

Without the right people or money, you could end up destroying the brand that has been carefully cultivated.

You must also be sure of a brand that can be extended. You can have a cupcake company that is the talk of the town, but be sure there's a market before deciding to try to launch a full menu for lunch, if you have two successful restaurants on both sides of your building.

If you have, money, vision and people who need to be successful, it's time to expand your brand.

Carefully consider your existing brand. He evokes stability? Flavor? Health? In order to successfully expand your brand, you must give people the same feeling I had the first time it has established in the first place. Do not rush the process. Use a thesaurus to come up with words like and turn summaries of famous quotations and phrases.

Above all things, you must ensure that the service or product that will be offered by expanded brand offers the same quality as your original brand. After all, it's much easier to succeed if customers think your brand is worth their money .......