Check Your Vision
A B2B food manufacturer was doing well. They produced high quality products for the food service industry both regionally and they were making inroads nationally. Their prices were competitive, their service was good, and they had a unique expertise with their new product development capabilities driven by their largest customer.
For the first time they started to think just “going nationally” was not the “only,” nor even the “best,” way to move forward. Maybe they could take this expertise on the road and generate a unique position to make customized offerings to foodservice companies allowing them to stand out from their competition. Unfortunately, it was too little too late. Key sponsor executives at the client changed, purchasing got more involved, and their largest client who had become too big switched vendors and the company went under.
Things can change on a dime. Some you could never see coming (a la COVID-19). But proper Brand Vision planning can help avoid more preventable catastrophes.
It’s easy and understandable for CEO’s to be short sighted. You need to keep fending off competition to generate sales - to generate revenue - to generate profits - to make payroll- to buy inventory, supplies, keep the plants running and the lights on etc. Execute properly and you can have a good year. Everyone is happy.
But too often the daily grind to survive then thrive doesn’t leave room to spend critical time being far sighted. Exactly where are you going to be in 3, 5, even 10 years? Just because last year was good and this year is on track doesn’t mean you’re properly prepared for the future.
When was the last time you had your company’s vision checked? Have you ever?
Creating a Brand Vision is an important part of the brand growth process. Ask yourself some questions:
If an article was written about your company in 5 years, what would you ideally like it to say?
What will your company’s position be vs competition in your eyes – in your customers’ eyes?
What will your strengths and points of difference be vs competition?
What niche will you own?
Will you have created a new niche in the category or a new category altogether? Being first is important.
What positive and negative things could happen in the future that could impact your business – will you be prepared?
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BE VIGILANT: During this difficult time with COVID-19 it only takes one misstep, one touch of the face after touching a counter, one breath from an infected friend/co-worker/relative, one unwashed hand and your life can be forever changed, even ended. BE SAFE