Poor branding
Recently I gave a speech to an audience of appliance dealers. I told them to focus on the layout of their stores, their signage, even how their employees dress. One dealer said, "We tried that branding thing and it didn't work." Wrong answer.
In business you brand yourself every day in a million ways. The real question is whether your branding helps or hurts your bottom line.
Most entrepreneurs aren't naturally talented in all seven of these areas, and that's the reason a lot of businesses fail. But failure is a great teacher. Learn and you will earn.
Jay Goltz employs 110 people at Artists Frame Service, Chicago Art Source and Jayson Home & Garden, all based in Chicago. He is the author of The Street-Smart Entrepreneur (Addicus Books).
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LAST UPDATE: Jun 02 2009 | 3:58 PM ET
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