A good name is more desirable than great riches; to be esteemed is better than silver or gold.
Proverbs 22:1
Biblical wisdom and current events recently met in the August 10 Wall Street Journal Marketplace headline story by Suzanne Vranica and Jim Hansegard. These journalists reported that the number 1 brand name in the world, worth 183 billion-nearly a 3rd of the company’s market capitalization is… drum roll… Apple.. McDonald’s brand value is 92 billion, Coca-Cola 71 billion with another global name, Disney, at 17 billion. Brands mean a lot.
For these companies, the name tells you what to expect in no uncertain terms. Each one speaks of quality and excellence no matter where in the world the brand is found. Each has a proven history of consistently living up to customer’s expectations and exceeding them.
What about your brand? Not the brand of your firm but your personal brand as a financial advisor. Most financial advisors have no idea of what I’m talking about. They have no brand and no conception of what a brand is all about. As a result, their value to their clients, their distinctiveness in a competitive market is neither clearly understood nor easily stated.
Not so with a Supernova FA. You have an opportunity and an obligation to create a brand that that will stand out in representing quality and excellence to every client and prospective client.
What is that brand?
“A concierge sized practice with a multigenerational, planning driven investment process, a rapid response with a 1-hour turnaround on a call and a 24-hour resolution to problems plus an unparalleled service model, 12-4-2…”
That’s not just a statement or a description of what you do. It is a valuable brand that describes and exceeds client expectations.
There are a lot of computer companies and companies that make smart phones. But there is only one Apple. Having a good name is not just smart business practice. It is a significant part of your business practice and adds more value than many of us could ever dream.
Exercise: Practice building your brand and watch how your brand will build your practice.