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This episode is a business coaching course that teaches how to have big time branding.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1

-All right, Thrivers. We are doing here today with the Thriver of the month, Augustine. Sir, how many points did you end up scoring your winning month there?

-Somewhere over 7,000.

-That's awesome.

-Thanks.

-We're talking today-- I'm excited. We're talking today about dream big, look big, spend small. Big time branding with a small time budget. And I love your question you sent in here. You sent this the question, I know the first steps of branding and formation are as critical to success as shoring up the war chest. Specific ideas and contacts to people who are known pros in these critical areas are key to me. So you're trying to reach out to get the right branding for your new restaurant you want to open up. Which is going to serve like local brew, local-- How would you describe it?

-Yeah, craft beer, craft coffee, and light food fare, as well.

-So you're having craft beer, craft-- You're saying coffee?

-Yeah

-OK. And what else?

-And then we'll also have a menu more quick service rather than a sit down. But yeah, keep it simple, but make it a destination, whether it's coming in before work, meeting with client during the day, or hey, beer 30, end of the day.

-And I know I mention this a lot on Thrive episodes, but I do this because it absolutely changes everything. When you think about this for a second, most of us went out there at some point and we bought an iPad, an iPod, an Apple computer. We have something that is in one of those fancy schmancy Apple boxes. Right?

-You bet.

-How many of us have kept the box?

-Yeah, I kept mine for awhile.

-I mean, do you still have the iPad box or the computer box? Or did you finally toss it?

-I think I finally got rid of my last iPad box.

-Thrivers, if you're watching this, and you're one of those people who's kept it and you're not quite sure what to do with it, you're not alone. A lot of people have that box, because the box looks so good. Another example of great branding, great packaging, is you think about if you get your wife a ring. Now if we went out and bought our wife a ring, and we bought that ring, and we went out there and got it, and we spent the money on it, we spent a lot of money on it. But on the outside of that box, if it said Tiffany's, well the moment we show her the Tiffany box, that stands for quality. Her facial expression will go-- I mean she'll just be unbelievably excited about that gift.

Now if you took the same ring, the same exact ring, the same ring here with a massive diamond on it-- I mean it's just a gorgeous ring. And yet, the same ring. But you put that ring inside a little bag here, and on that bag it says Kmart-- that same ring will be perceived over here as being worth so much more. If you put it in the Kmart bag, it's perceived so much less.

Let's say you gave your kids Twizzlers for Christmas. You're one of those parents who's like, when I grew up we had wood and mud. And that's what we got for Christmas was wood and mud. So this year I'm going to teach you kids you know the importance of being thankful for what you have. So I'm going to give you some Twizzlers. If you put those Twizzlers inside this Apple box. At the moment that they unwrap their gift, for a moment, they would go-- And they'll be so excited thinking they got an Apple iPad. They open it up, they find the Twizzlers and are probably let down a little bit.

But I'm saying as it relates to your business, are we wrapping your company in a Tiffany box? Or are we wrapping it in a Kmart bag? And this is the question. Because if we are putting in a Tiffany box, people will assume it's worth more and they'll be willing to pay more.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Ask Yourself: Am I wrapping my business in a Tiffany box or a Kmart bag?
  • Lesson Nugget: Dressing the part and showing professional marketing materials will give the customer the ida that your service must also be quality.
  • Lesson Nugget: Your customers will assign the value to your product based on what they perceive from your branding.
  • Lesson Nugget: Your marketing materials must rival the quality of top name brands for your company to be perceived as a top-shelf source of service.

-If you put in a Kmart bag, they're going to pay less, they're gonna assume it's worth less, they're going to negotiate, they're going to haggle, they're going to see the value as lower. So I want you to think about your own business right now. Think about your own product, think about your service. And ask yourself are we at a time and place right now where we are going to say that our businesses are wrapped in a Tiffany box or is it in a Kmart bag. Just ask yourself, am I in a Tiffany box or a Kmart bag? And if you're not sure, you're probably in a Kmart bag.

So you think about like my old DJ company-- just try not to laugh at me, but this is what used to happen. I used drive in my van. Now my van, it was a hot van, but this my van here. Now I'm not ripping vans. I'm not really good at drawing vans, but it had four wheels on it. [INAUDIBLE] was a Mazda MPV, OK? I pull up, I meet brides at Panera Bread. Well one, they never saw the van. So I parked that van as far away as I could. But I drive up, I get to Panera Bread. When I get to Panera Bread, they see a guy in a suit, I've got my briefcase, I have all my print pieces nice and organized, I got all the nice brochure, I got all my nice prints, they're all there. They assume, wow this guy's in a suit, he's got a briefcase, he's got the nice prints, he must have a pretty good value to what he does.

Now, this is a true story. Before I knew this principle, I used to pull up in my 1989 Ford Escort. OK? Both of these cars had over 200,000 miles on it. But I pull my Escort and I didn't understand the Tiffany theory. So once I understood the Tiffany theory, I no longer drove up to the place in my MPV and let them see me get out of my car. I parked that anything as far away from places as possible. And then I would get in Panera Bread and greet them when they-- So they would never know what car I got there in.

However, in the Escort, I used to show up, and where do you think I suggested for my customers to me?

-Well originally, you were asking them to meet you at McDonald's, I believe.

-That, see, that is true. That is not a good thing. So I said, could you guys meet me at McDonald's? When I meet in McDonald's, and I've got instead of a suit on, I'm wearing my Wu-Tang clan t-shirts. I honestly used to wear Wu-Tang clan t-shirts. They would see me with my Wu-Tang shirt. I had all my stuff, and not really a briefcase, but it was in just a folder. What is their perception of the value of my company? Their perception is it's very low value. Over here, very, very high value. So just the perception of the product can screw everything up.

So you got to do right now, if you're watching this, you have to go out there and you've got to get a graphic designer, who can knock out all these things. I'm going to go through this with you, OK? You need a top flight logo. You're going to need a top flight website, top quality, top shelf, best, world class, great, Tiffany quality. Logo, website, you're going to need the business card. You're going to need a thing called a one sheet. One sheet is an 8 and a half by 11 sheet that describes what your company does that makes you different. You're going to need any print materials that customer sees. This all needs to be designed by a top designer.

Now in terms of costs, there are a lot of different people in town, a lot of people over the country that can do this. But look at their work and make sure that it is a Tiffany quality. So literally go through your inventory list, and make sure that-- hey, I need to make sure that my logo is as good as Tiffany. I need to make sure that my website is as good as Tiffany. I would want to make sure that business cards are just as good as Tiffany. My one sheet-- you want to go through that. You want to look at your current-- you just want to give it a letter grade today. Go and give it a letter grade. Maybe your current logo doesn't exist yet so it's an F. Maybe your current website-- your sister made it and it was terrible, and so it's a C. Maybe your business cards were made by your sister. Maybe your brother helped to make your one sheet and that's a terrible, too. And maybe your print piece you made is like a D. Well, you've got to get to an A.

Featured Coaching Excerpt - Notes & Transcript, Part 3
  • Lesson Nugget: Everything you show or give your customer must be world-class or it will detract from your business's credibility.
  • Definition Magician: When two parties exchange services instead of money, thereby reducing the cost for everyone involved.
  • Lesson Nugget: Financing a purchase may give you the ability to get what you need for your business without destroying your cashflow.
  • Lesson Nugget: Great branding will help you overcome the "negatives" that the buyer will see in a new business.

[MUSIC PLAYING]

-So do you have some contacts already?

-Yeah, actually, I do have a logo that that I've had made. In fact, it's the top designer in the Wichita area's done a lot of the work for a couple of the other breweries that have started in the area and has a lot of good connections to other people. I'm getting the logo and some of the design but I'm also getting the connections. So that's been huge.

-It's got to be world-class or nothing. So we need to make sure that the logo is absolutely awesome. Do you feel like it's awesome?

-I think it's pretty awesome. I'd love to have your look and your opinion later on with respect to it but yeah.

-Now I want to walk you through how you could afford-- everybody watching this right now can afford-- to have a world-class logo. Everyone can afford it. So I'm going to walk you through the big three of how to do it. One is the trade out move. I did trade out with Outback Steakhouse. I said hey. I'll DJ for all of your parties, all of your company events, all of your employee parties. I don't even think they had an employee party but I was like would you guys be willing to let me DJ for your employee parties and if you do, I will go ahead and-- I'd love to do it for trade out. So you can just pay me with gift certificates.

So trade out is a big thing. I literally called up Outback. I remember talking to Mark Rollerston and I said, Mark, could I DJ for your party? He goes, we don't have a party. Do you have a staff party? Do you have a company party, have a client party, what could I do? Well, we do have a staff party. We don't normally hire a DJ. Well, let me do it trade out. Trade out's one. You can get anything you want on trade out. Trade out.

The second thing you can do which isn't that creative but we all know about this is obviously, you can just pay them. You can just pay it. The third thing is you can look at financing them. You don't know unless you ask. But you can say, hey, could I pay you-- maybe I can't pay you $3,000 but maybe I can pay you 50 dollars a month for the next four years but you've got to find a way to get it done.

It has to be first class or you're going to lose. It has to be Tiffany quality. If it's not Tiffany quality-- especially as a startup-- the customer's already kind of leery about the fact that you're new. So think about the great trial of business here. The customer's going, well, over here, should I buy or should I not buy? Should I not buy or should I buy? In your mind, is being new a good thing for a customer?

-It would make them hesitant to try you out.

-So I'm going to add it over here to the Not Buy section. So I'm adding it to this scale. New. Being new is not a good thing. What about the fact that maybe you're brand new and you make a few mistakes because you haven't tested everything yet. Is that good or bad?

-That's going to be bad.

-So this is that whole-- it's kind of some errors, kind of some problems. What else would they not buy? Well, you don't have probably a lot of testimonials. Probably no testimonials. You probably have no-- if you're wanting to start a home building company or real estate company or in your case, you're wanting to start a restaurant that serves beer and coffee and all. If you don't have any testimonials, you don't have any history, that's probably also bad. So what's going to keep people from just totally disregarding you is you need to have unbelievable branding. So when they look at you, they go wow. This is good. This guy. It should tip the scales to at least a level where it's a no-brainer to give you a try and your service also has to be good or they won't come back but I'm saying you want to have enough solid branding and quality in what you're doing that at least it tips the scale and gives people a chance to think about working with your business. At least they're not totally put off by the fact that you're new. You don't have any history. You have some errors to the point that they won't work with you. You want to have awesome branding so it at least opens their mind to the concept of working with you. Does that make sense?

-Yeah. Absolutely.

-Awesome.

Featured Coaching Excerpt - Notes & Transcript, Part 4

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