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This episode is a business coaching course that explains the importance of branding.

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

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Today's Guest: Thriver of the Month - Jon Tucker
  • Editor's Note: The Mullet!
  • Editor's Note: I think this is what Clay Clark is talking about here...
  • Editor's Note: Billy Ray Cyrus Mullet
  • Lesson Nugget: Branding determines the perceived value of your product or service.
  • Lesson Nugget: Poor branding guarantees you no sales.
  • Notable Quotable: "Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.”
    -Elon Musk
    (CEO and CTO of SpaceX, co-founder, CEO and product architect of Tesla Motors, chairman of SolarCity, co-chairman of OpenAI, co-founder of Zip2, and co-founder of PayPal.)
  • Lesson Nugget: It is better to be over-branded than under-branded.

- Anything the customer sees you just wanna make sure they see visually that it ties into your brain. - Alright, thrivers. We are here today. We have an awesome topic for you guys. We're talking about branding and the importance of branding your product, service, business, and it's so vital. I know that we've talked and touched on a few points before but we're really getting into it this time. And we're joined today with John Tucker, one of the thrivers of the month. John, we're excited to have you. - I'm excited to be here. - Now John tell us a little bit. Give us a nugget of your background and really what you're doing. You don't have to get into the super secret details about what you're doing but give us a little nugget and a teaser for what you're gonna be doing. - I've got a passion for cycling that started a few years ago. A work place thing that took place and kinda started chaning my life and so realized that there's other people and after introducing them to it they got on the same path and I saw change. And so I got excited by that and wanted to get that message out to other people. - And so John has been on the site and working through a number of the different trainings, had the opportunity to win the thriver of the month competition. And now he's here in the studio. So if you wanna come to the studio as well just email us at info@thrive15.com. We have weekend work shops. - [John] Yeah. - And we're gonna be doing a number of different things for John specifically. But Clay get us into branding and why branding determines what you can charge. OK what is this concept? - Branding's like having a mullet. Branding's like having a bowl cut. K. - That may sound a little counter intuitive or kinda abstract for some of the thrive. Not for the thrivers, for me. Can you break that down? - Yeah it's just a deal where you in the early 90s and you had your hair bleached blonde on the tips. You know the tips were bleached blonde. And you kinda looked like you were a member of Backstreet Boys. That was a cool deal. You know if you were like in the 80s and you had a bowl cut you were the man. You know but over time things change and people are going why are you the only one still sporting the Billy Ray Cyrus? You're sporting the Billy Ray Cyrus that mullet. Let me tell you two things are going on. Either one you're the most confident person in the world and you can just do it, make it your own style or two is you are rocking a haircut style that begs the question what's going on? Like what's happening? And so branding is something so few people invest nearly the amount of time needed. So the branding determines what you can charge. Bottom line. It determines the value of what you're doing. I mean the thing is if you have great branding it does not guarantee you sales but poor branding guarantees you no sales. So it's a key into the door. And what you do when you get into the room that's your own thing. But branding is the key that unlocks the door. If you have poor branding nothing else will work. It's just that's how it works. - I wanna back up what you're saying with a notable quotable here from Elon Musk. He's the founder, he's the CEO, CTO of Spacex, co-founder and CEO of Tesla, chairman of Solar City. OK, so Elon Musk. OK, he says the brand is just a perception and perception will match reality over time. Sometimes it will be ahead, other times it will behind but brand is simply a collective impression some have about a product. - It's the impression. It's the first impression. It's a lot like if you take a fine young lady on a date or you take a handsome man on a date or whatever the thing is. You go on the date. And when you go on the date if you show up and they expect it to be a formal event or a semi formal and you're supposed to have tie or a shirt or a nice shirt and tie combo on and she's supposed to be dressed up nice and you get there and you're wearing your basketball shorts and you kinda show up maybe two minutes late and you have a Billy Ray Cyrus haircut people start to go what are we doing? I mean and you invite the young lady into your car, you open up the car door and could be a great guy but it's just filthy. It doesn't have to be a great car but when you open up the car and it's just filthy and dirty and there's just trash everywhere it just says things about you that you don't really want to be said. So it's so important that our branding and if it's anything it's over branded. If anything you wanna be over branded. If anything you wanna struggle to live up to your own hype. You have to have over branding. I'm just telling you: over brand. If I could say one thing to do here. Over brand. If anything over brand. And this is the thing. This is where I am driven by insecurity. People say what drives me. It's always insecurity. So for me I love over branding and then having to deliver. I love that. For some reason I just love that pressure. I've been doing it long enough. I'm 35. I've been doing this for 20 years. I love the idea of opening up The Elephant in the Room and saying it's Tulsa's best men's haircut. Period. And my buddies go OK, I'll try it. You go there, right? - Yeah, I go to Elephant in the Room. - Is it not different than Top Cuts or something? - Absolutely. - Great Clips. - Absolutely. - And what's different about it? - For me, personally, is I never have to wait for a haircut. I set an appointment ahead, walk right in, right into the chair. - Cause it's a membership model. We have memberships, set times, set prices, it's a men's grooming lounge. It's kind of a rustic wood, pretty similar to the style I embrace with our studio and different things. We have Edison bulbs hanging down, reclaimed barn wood hanging up. It just feels like a man place, like a man dojo. And what I'm saying is that we've had to work very, very hard on the brand and now it just happened last month. The website I look at about every six months. I know it sounds crazy but I look at it about every six months and really dive in. And I'm going it's not as good as our brand is. It used to be ahead. It used to be so much better than our product. But now I'm going our product is a lot better than our website. I gotta fix that.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Lesson Nugget: Branding will set the expectations for your customers.
  • Lesson Nugget: You will be able to price your products and services according to the branding you create.
  • Notable Quotable: “If you give someone a present, and you give it to them in a Tiffany box, it's likely that they'll believe that the gift has higher perceived value than if you gave it to them in no box or a box of less prestige. That's not because the receiver of the gift is a fool. But instead, because we live in a culture in which we gift wrap everything--our politicians, our corporate heads, our movie and TV stars, and even our toilet paper.”
    -Michael Levine
    (PR consultant for Michael Jackson, Pizza Hut, Nike, and Thrive15.com mentor.)
  • Editor's Note: A Tiffany & Co. Box
  • Lesson Nugget: Make sure that every aspect of your business lives up to the type of branding you put out for customers.
  • American Hybrid Homes: Mykhaylo Panchishak American Hybrid Homes offers solutions for efficient home energy.
    (http://AmericanHybridHomes.com)

- And so when I hear you say over brand, it sounds like you're saying, "Set the expectations for the customers, - [Clay] High. - yeah, and set them to whatever you want them to be. Now there's some people, will say like, big box retailers, - [Clay] Yep. - That set their brand very differently. So you look at a Walmart versus a Whole Foods, two completely different brands, but you've set that expectation so the customer can't set the expectations themselves. - It's hard to justify paying for something, premium dollars for something, that looks cheap. And it's hard to feel good about paying cheap dollars for something that looks great, you almost feel like there's a catch either way. So if you stay at a five star hotel, and you're paying almost nothing, you go, "When's the timeshare tour gonna happen? When's it gonna happen? When's it gonna?" and then they come in and they say, "All right, ladies and gentlemen, now thank you for coming out to the yadda yadda resort, we're going to do a timeshare tour today, thank you for being here." And you're like, "I knew it! I knew because it was so cheap they're gonna..." right, what's the catch? No such thing as a free lunch, you know, you start to, and then on the other side of it, if something is really, really, just looks crappy, you're staying at a motel that just looks gross, feels gross, and then it's like $127, and you're like, "I'll just stay in my car." Because you can't, either way, your price has to match your brand. And people, if you don't get that right, so many good people are out there, we have so many good people out there, all around the world, with great products, good people, great people, great products, great people, but second class branding. It's gotta stop. - And I so I want to read this Notable Quotable from one of the Thrive15 mentors, Michael Levine, okay, he has this Notable Quotable, and he's the guy that did PR for Michael Jackson, the Clinton administration, Nike, Pizza Hut, a ton of celebrities. - Not impressed! Name drop something I know. - Okay, here we go. "If you give someone a present, and you give it to them in a Tiffany box, it's likely that they'll believe that the gift has higher perceived value than if you gave it to them in no box, or a box of less prestige. That's not because the receiver of the gift is a fool, but instead because we live in a culture in which we gift wrap everything: our politicians, our corporate heads, our movie and TV stars, and even our toilet paper." Okay, so we're talking about the branding around the product, okay, it will immediately have a higher perceived value if it has, if it's gift wrapped in a box like a Tiffany box. So, Clay, what does Michael really mean by this? What does he mean? - Well, I drew a little picture here if we can pull it up on the screen, if it's possible to pull it up here. Basically what you have here, is if it's in a Tiffany box over here, this guy, they'll have rings in the Tiffany Store that are on sale for $19,000. Then over here, at K-Mart, when you buy a ring, they put it in a plastic bag and it's $19 and you assume it's costume jewelry, it's 19 bucks, you know? You could take a piece of jewelry out of a Tiffany Box and put it in a K-Mart bag, and somebody would mistake it for being a $19.99 ring. They think it's $19 because it's K-Mart, it's in a bag. If you took the same ring, and put it into a Tiffany Box, not that you would want to do this, but, other people have. If you want to get a cubic zirconium ring, that is definitely not diamond, and you wanted to just put it in a Tiffany Box, I bet you with enough conning, you could sell it for a huge price. So I'm saying that what you want to do is make sure it's in the box, and then you live up to the branding. This is the branding right here, this is the branding, this is the branding, you want to live up to that branding, you know, you got all this decorative branding going on, you want to live up to it, which makes it worth that much. So many people just don't do it, they have the poor branding, great product. Great product, poor branding. Great branding, poor product. Recently, I worked with a company, awesome branding! Their service sucks though, it's terrible! Every part of their, every part of it, it's like this little lube, like a Jiffy Lube kind of thing, but it's not a Jiffy Lube, but it's kind of like one, and their service is awful. And they have the most beautiful brand new facility, it's beautiful, people are going, "Wow, this is great!" and it is absolutely, 100% garbage service. And people just can't pay the price. - And so, as it relates to determining what you can charge, do you have an example for maybe one of your businesses, or maybe the DJ company where you were charging one thing, and then you made a change in the branding, and the perception and the presentation, and then you were immediately able to charge more? Do you have an example from one of the businesses there? - Yeah, yeah, I mean, there's lots of them. But I would say specifically one that I'm, particularly proud of recently is, we've done a lot of work with one of our Thrivers there, American Hybrid Homes, Mykhaylo, he's a Thriver out there in New York, called American Hybrid Homes, and his website, in my mind, looks very good now. And he was a start up, and his website looks very good, his start up looks actually better, his website looks better, than the website of a lot of established brands, and so he is now able to confidently go into the homes of people and make a price quote, now he's been doing it for a couple of years and things are taking off, he's hiring new employees all the time, he literally went from the idea phase, when he heard about us on Bloomberg I think, to now the growth phase, I mean it's awesome. But it's a deal where like, his website now looks like he's been around forever. Where, before, when you just have like a folder and a binder you show people, and you don't really have a professional website or a website at all, it's very hard for him to get those deals. But now he's getting the deals. - Yeah. So, determining what you can charge, branding, plays such a huge part in that. - Absolutely.

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