The rich build assets.
Robert Kiyosaki in his Rich Dad, Poor Dad book said that the secret to getting rich is to build assets.
He said that assets are things that make you money even if you're not physically there. If you have to be there, it's a job. Not an asset.
So what does that have to do with branding?
Brand power is an asset.
Brand power isn't a tangible thing. You can't hold it in your hands, but it's an asset nonetheless. I'll tell you why, but first, let me ask you a question.
Do you have a favourite brand?
When you see that the brand has a new product, you feel like you have to buy it. Right? It's like, "New product? NEED."
That's the brand power making money for the brand owner.
Let me ask you another question.
Is the rich entrepreneur - the one who founded your favourite brand - standing next to you whispering "Buy it buy it buy it please buy it" while softly stroking your hair?
Does he or she have to present 54 Powerpoint slides (with fancy animations) about all the great benefits of the product, before you say yes?
Does she have to promise you a slimmer figure, better skin, more money, friendly friends and other rewards, before you finally agree to buy the product?
Nope, because they don't have to. Rich entrepreneurs aren't stuck being the salespeople.
More likely than not, the rich entrepreneurs who founded your favourite brands are ENJOYING their riches right now. They're making money even when they're not there manning the counter or constantly promoting their products on Instagram.
Rich entrepreneurs invest in long-term brand power.
They know that when the brand power is doing the selling for them, they can focus on other aspects of their business.
They use the time, money and resources that they saved to make the business bigger and better. They're not stuck being a salesperson. Now they're the strategist, the CEO, the mastermind.
When you invest in growing your brand power, you give yourself the freedom to take your business in any direction you like. You give yourself the ability to make your business bigger, without actually working 24/7 on it.
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