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Jorgen Vig Knudstorp, CEO of Lego asked that question when he initiated Lego’s transformation leading them to quadruple growth over the past ten years. He commented that Lego had “lost its way in terms of its own self-identity” and needed to clarify “what is Lego uniquely about” to develop strategy and properly align resources to the market.
There are a number of positive outcomes when answering that question -whether you are an established business owner, senior manager, starting a new enterprise or looking for work – here are a few potential benefits:
- Clarifies your company or personal brand for you to effectively be its advocate and marketing champion
- Defines your customer
- Links your business operation to your target market
- Creates your marketing narrative and story
- Ensures your employees communicate a cohesive and consistent message to customers and prospects
- Positions you for your job search strategy and interview preparation
- Learn what your network (customers, co-workers, employees, friends) already think of you and your product
- Get at why a customer buys from you or an employer hires you
- Communicate and live qualities and values you want associated with you and your business
In my next post scheduled for March 2015, I will provide you with “key questions” help guide you in initiating a business or personal branding exploration process to help you clarify “Why You Do Exist?”.