Asking yourself the question ‘what business am I really in’ is well worth doing periodically – the answer might just help you to discover hidden opportunities or an angle for business development that you otherwise wouldn’t have considered.
- Somewhere along the line cinemas began to look at their business in a different way
- The classic example that is given when people are talking about this topic of what business are you really in is the railroads
- The businesses that best understand the customer and create solutions that the customer wants to buy are the ones that ultimately win
- Kodak is a cautionary tale that illustrates why it’s imperative to stay relevant to customers
- I see a potentially worrying parallel for many law businesses such as my own intellectual property law firm
- Clients need to get a brand, create an identity, and protect their intellectual property
- Customers face real problems attaining a brand that’s legally protected and makes them more money because they often don’t know who to turn to achieve that goal
- The intellectual property dimension falls by the wayside because its relevance isn’t that obvious to clients or to the agencies they use
- Once the brand is created, businesses are unsure how to promote themselves
- Clients need to promote their business to get customers and build their brand online
- Smaller businesses lack the insights into brand management so don’t get the best from their branding spend
- It makes complete sense for us to offer products and services related to intellectual property to support clients to get a helicopter view of their business, build effective brands, and have a more joined up approach to marketing
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