Business is all about success. The reality is that people everywhere are coming up with great business ideas that could potentially blossom into a huge, sensational brand. However, while most possess the idea, they lack the skill and knowledge that is essential to starting a successful brand.
Before any entrepreneur can even think about launching their own brand or company, they must first go through a process that helps build a foundation for the brand to fall back on. While there are an endless amount of tips every business owner should be aware of before the big launch, the top five are vital to the success of any business.
Refine your brand. One common mistake made amongst young entrepreneurs is their rushing to the market to get their brand out there before anyone else does. Ideas evolve, and it would be wise to research your idea to better evaluate your brand. The first important step to creating a brand is to design the business, look at who your competitors are, who might be complimentary business, and what niche it will fill.
Protect Proprietary Information. All it takes is an idea and one ambitious individual to create a financial success. Therefore, it is important to know whom you can trust when it comes to discussing your business plans. Know that you’ll need to collaborate at some point in the process and decide exactly what aspects of your brand are proprietary. Protecting your idea is an essential early step, and the second you disclose your business idea to a third party without a disclosure agreement, you have a one-year time frame to file your patent application.
Decide on a Marketing Plan. Designing a business to market your brand or licensing your brand to another company are the two pathways to market. As you approach companies, keep in mind that you’re also not likely to get them to sign a non-disclosure agreement. You have to weigh the risks involved in sharing information about your idea. However, in order for your brand to prosper, it is important to give your brand the necessary credentials that will make big companies want to buy your idea.
Conduct Research. Make sure you are researching your branding ideas and desired marketing plans as well as the financial startup. Many people underestimate the startup costs of starting their own brand as well as the customer acquisition time and cost. Young entrepreneurs can set out and research to find their angel investor that would be interested in helping them expand their ideas.
Think Like a 3-year-old. Throughout the brainstorming process, don’t be afraid to ask questions and search for explanations. The more you ask, the more knowledge you gain, and the more success your brand sees.
Jay Leopardi is a lifestyle and pop culture branding expert, who specializes in the growth and development of brands. His skills range from search engine monopolization to new business funding techniques, concept actualization, and motivational speaking and product launch campaigns. Some of his entrepreneurial endeavors include product placement, licensing and integration as well as celebrity endorsements.
Leopardi launched his career at age 13 as a pop recording artist in Miami, Florida, landing his first record deal at age 17 with AFR Records. Six weeks after releasing Jay’s single, it became the top one hundred hit on the billboard charts, selling 60,000 copies. After the record label bidding began, Jay recognized that there were many other facets to the music industry. He then made the decision to become a music producer.
Growing up among top celebrities ranging from musicians to actors helped Jay recognize that the music business was much more intricate than what people heard on the radio. After years of producing albums, Jay decided to move to Cincinnati, Ohio to work alongside his father, Emmett C. Leopardi, who worked for the multinational corporation Procter & Gamble. There, Jay learned discipline and formal training from several of the top leaders in the brand management industry.
Currently a visionary marketer, branding expert, and one of “The Shark” Daymond John’s right hand men at Shark Branding, Jay works closely with celebrities and companies in delivering brand management support. Jay has been dubbed “The Bad Boy of Branding & technology guru”. Jay reinvented himself and brought his strategic marketing expertise online. He began signing clients and securing product placement. Jay now works closely with big names including Cedric the Entertainer, Kel Mitchell, and Miguel Nunez Junior, to name a few.
For more information and to watch the interview please visit www.jayleopardi.com
