If there’s one mistake that far too many business owners make in the modern era it’s that they move forward without a sense of identity. That’s not to say that their company doesn’t have the right branding or product, or even that they don’t know what they want. Instead, the problem that they face is that they move forward without a strong enough idea of what it is that really sits right at the core of their business. What is it that makes your business unlike any other? Without an answer to this question, your business is never going to be able to move forward in the way you want to. Instead, you will end up just sort of floating around without much direction at all. To make sure that doesn’t happen, here are some things that you should do to hold onto your business’s identity.
Retain core values
When you first start a business one of the key elements is your business plan, and no business plan is complete without a set of core values. Some people might argue that there are other, more important things to worry about but they are missing the true point of having these values in your business. Your core values should inform every decision that you make. Every business has different values and different choices to make. A company like Teschem remains privately owned to this day and has never let go of its core values, allowing them to create a strong sense of identity. Whether it’s the choice between manufacturers, investors or marketing techniques, the core values of your business are going to have an enormous impact on the way that if functions.
Don’t compromise
Remember, this is your business. You built it from the ground up with a specific purpose in mind, and that’s a purpose that you should stick to. Think about the initial spark that you had when the idea for the business first popped into your mind. The key is to stay true to that spark no matter how your business changes. There’s nothing wrong with growth or adjustments, sometimes things need improving, and others just need throwing away. As long as you can stick to your principles and never compromise on what it is that’s most important to you about your business; then you can be sure that you’re going to turn it into something truly incredible.
Don’t chase trends
Far too many businesses end up failing because they spend their life trying to chase down trends. By their very nature trends are fleeting things. Here today, gone tomorrow. By constantly chasing them and moving on to the next thing then your business is never going to be able to create a significant sense of its own identity. The act of chasing trend usually comes with constant revamps and rebranding that often leaves customers confused. Without something to identify with, customers and investors will often find themselves put off and uninterested. Knowing what your business is and sticking to it is the best possible way to help people understand and make sense of your business.
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Vinh Van Lam & Stuart Horrex
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