Or, some of us can tell when our brand and business is in trouble before the trouble ever hits. Being able to tell the signs of a brand being in trouble can give you enough time to do damage control before the bad times start.
If you fear that your brand may be in for rough times or is suffering, undergo an honest evaluation of your brand and ask yourself the following:
Has your brand started to move away from your original vision? If you begin to move your brand’s image, message, or vision away from the core of what you originally started with, you could potentially cause brand confusion, This can send your existing customers looking for a more surefire and steady brand to replace yours.
Do you or your employees tend to act first and think later? If you ever find yourself or anyone that works for you saying something like “Don’t over-think it” or “just go ahead and do it,” it’s time to step back and re-analyze. Careful consideration should be placed into nearly every facet of business, from branding to knocking out the simplest of jobs for a customer or client. Strategic thinking should take place before any actions.
Have you been making business decisions based on your own tastes rather than trends and facts? Yes, it’s your business. And yes, your opinion matters. But your opinion should not serve as the end-all be-all of the business. Your decision and approaches should be based more on current industry trends, studies and facts rather than your personal tastes. It’s easy to find the line between basing your actions on facts and keeping in tune with your brand as long as you keep the needs of the customers in mind first.
Can you think of any other warning signs you need to look for in order to prevent your small business from falling by the wayside?