PROVIDED BY KEVEN PRATHER, CFBS
ESTATE TAXES
The Wealth-Building Potential of a Powerful Personal Brand
S
elf-made billionaires almost you need to determine how the audience universally have well-established you are most interested in sees you today, and powerful personal brands and why those people view you that way. A powerful personal brand is a declaration that they use opportunistically • You communicate directly and• regularly with that community in ways its members Then, find you want to think about the end of who you are, what you can do and what to generate even greater success. This is goal—your ideal personal brand. How do compelling. you stand for—as well as an astoundingly no accident. They’ve taken a proactive you want that same audience to perceive effectivewith way toyour create and magnify business approach to crafting and leveraging their develop preferred relationships • You audience that accrue professional you? What do you want people in your ausuccess. personal brands. dience to think about you? advantages for you.
Here’s how they do it—and how you Of course, as you craft your powerful You can emulate their mindset and •actions tostand out from others—especially your competitors—in the eyes of your community. personal brand, you are likely to refine the • For maximum success, focus on the three create your own personal brand that can details. But by understanding the gap beFor these reasons, a personal brandmain is an components astoundinglyofeffective way to create brand building: the and magnify help you build serious wealth. tween where you are today and where you promise, theyour experience andbrand the results. business success. Even though it’s intangible, personal is a high-value economic want to be, you can plot out the moves asset that can add significant value to nearly every business endeavor you are involved with. JUST WHAT IS A PERSONAL that can close the gap and create the powBRAND? erful personal brand that you want most. • Brand building demands consistency—it’s not Important: Powerful personal brands are not in any way restricted to celebrities, politicians Brands are the economic engines of Next: Once you know where you a one-and-done endeavor. many large and smaller companies. or Disney, the wealthiest. Almost anyone can craft a powerful personal brand and benefit greatly want to go, there are basically three Coca-Cola and Apple are three of it. the from interconnected components to crafting a biggest examples of brands that resonate powerful personal brand. with consumers. though it’s intangible, your personal brand You might want a faster method, A personal brand works much the is a high-value economic asset that can add however! Component #1: The promise same way. Generally speaking, a powerful significant value to nearly every business The say promise is core to what your The most obvious way to build a powerful personal to consistently do what you Thebrand good isnews: Through deliberate personal brand is a declaration of who you endeavor you are involved with. powerful personal brand stands for and and systematic efforts, you can craft a do over a period of several decades. are, what you can do and what you’ll you stand delivers to others. It is the “halo” you have Important: Powerful personal brands powerful personal brand much, much for. Having a powerful personal brand even before you meet people. Your promise are notainfaster any way restrictedhowever! to celebrities, quicker. Many top self-made billionaires You might want method, means: is how others will see you and what they politicians or the wealthiest. Almost any- have managed the process to expedite and will expect from you. It tells them: • You are engaging to a particular audi- one can craft a powerful personal brand maximize the value of their brands. (That The good news: Through deliberate and systematic efforts, you can craft a powerful personal ence in a very meaningful way. It is not and benefit greatly from it. said, even a fast-track approach requires • What you stand for and why billionaires have managed the process to about being broadly famous.brand much, much quicker. Many top self-made knowledge and perseverance.) • What you can do for other people expedite and maximize the value of their brands. (That said, even a fast-track approach THE POWERFUL PERSONAL • You are well-known and well-respected The first step: Conduct a gap analysis. BRAND-BUILDING PROCESS requires knowledge and perseverance.) • Why you are credible within a specific community—one You need to determine what your personal The most obvious way to build a that can be highly useful to your brand is today and what your ideal person- • Why you are the best choice powerful personal is to consistently business activities. The first step: Conduct a brand gap analysis. You need to determine what brand is al brand is (see Exhibit 1). your personal • Why they should make a concerted do what you ideal say you’ll do over abrand periodisof(see Exhibit 1). today and what your personal • You communicate directly and effort to work with you several decades. To assess your current personal brand, regularly with that community in ways In constructing your personal brand EXHIBIT 1 its members find compelling. EXHIBIT 1 promise, you want to focus on: • You develop preferred relationships TheThe Gap Gap Analysis Analysis • Your strengths—in particular, what with your audience that accrue you can provide to others that is as professional advantages for you. good as, or better than, what most any• You stand out from others—especially Your Your one else can provide your competitors—in the eyes of your ideal personal • What makes you stand out (in a posicommunity. GAP brand personal tive manner) For these reasons, a personal brand today brand • How you can meaningfully better the is an astoundingly effective way to create and magnify business success. Even lives of the people you care about
The powerful personal brand-building process
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HVACR BUSINESS JUNE 2020
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