Brand Vs. Business: What's the Difference?
The problem with this question is that no matter how many times you ask it to several diverse people, you’ll receive a different answer. Some may even argue that brand and business are one in and of itself, but unfortunately there is, in fact a difference between a brand and a business. To many, a brand is a symbol of a business, and while that may be true, a brand is still more than just a symbol. Chris Kocek for entrepreneur.com explains it best: A business is an operational entity within an industry, and it stays within its realm of business. A brand is what happens when that business grows and becomes so large that it actually serves a greater purpose; stretching farther than its industry. The brand is the bigger picture, the emotional connection between the business and consumers.
One may argue that a brand is a functional element among other various elements that are necessary for business viability. While this is technically true, we should remember that brand building is also a crucial ingredient needed in the business growth process, and brand building is what helps shape the difference between a business and a brand. Small business owners begin their entrepreneurship with the mindset of, “I’d like to start my own business, really make a difference, and be prosperous.” They focus on growing their business accordingly, follow all the rules, regulations, processes, dos and don’ts to a “t,” and still aren’t as satisfied with the growth or achievement, (even if they’re considered one of the top businesses in their market). Why is this? -Because they haven’t seen past the basic functionality and idea of their business. For instance, let’s say the business is a part of the food and beverage industry, but what does it really do? What does it really sell? When a business owner can answer that question differently, (other than something along the lines of providing quality food and beverages to customers), then they are starting to think in the brand mindset; beginning to turn their business into a brand.
Kocek uses a perfect example with Lego. What started as a business that began as crafting specially designed building blocks for kids is now one of the most well-know, reputable, brands throughout the world. Think about it-the brand isn’t just about toy block sets anymore. It’s about childhood imagination, family playtime, constructing a child’s own creativity. Lego now has a multitude of lines, from video games to clothing, and as of just recently their very own movie. It’s not just a business of building blocks. It’s a brand of childhood, imagination and creativity.
So, as a small business owner, if you’re truly striving to grow you business in the long run, and find satisfaction in achievement, stop thinking that all your business does is serve customers. How do you specifically serve customers? Ultimately, what’s important to your business? What does it believe in aside from its product or service? What do your customers believe in? Find your answer, and you’ve found your brand.
Are you interested in leaving your mark in the homecare industry? Currently, one of the top growing industries, with a future of only more and more growth, the homecare industry is the place to turn a business into a brand. Why not the FirstLight Home Care brand? Our franchise system was awarded the Top Franchise Satisfaction Award for 3 years in a row (for systems with 100-299 locations), and we are already hard at work ensuring another win for 2015. Be a part of our franchise system, make a difference in someone’s life every single day, and help us turn our business into an extraordinary brand. You can fill out our contact form for more information and feedback as well. Hear what our franchisees have to say about owning their own FirstLight Home Care business, and see how we can start you on your path to ownership today. We are also available to speak with you at any time via phone. Give us a call: (866) 288-4727. We look forward to hearing from you soon!