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Know Your Business Why

This is step 5 in the 10 Steps to Developing a Brand series. It’s important to know your “why” statement when developing your brand. It’s a metaphorical navigation system when you’re pushing through the struggles of early business development. Think of your business “why” as a combination of a few elements:

  1. Know your market’s pain points – This goes back to finding a problem and selling a solution. If you business or product is based on a personal experience, you should highlight that experience. My wife started using and selling Arbonne products because they were the only thing that worked on her psoriases. The pain point was that customers with sensitive skin conditions were having a hard time finding a solution.
  2. Create a mission statement – When you create a mission statement for your business it outlines where you came from, and where your business is going. Most of the time this will line up with your “why” statement because a lot of those values are similar. We wrote an article about creating a mission statement if you’re interested in reading more.
  3. Understand storytelling – We’ve said it a million times, branding hinges on creating emotional connection so often. When you have an origin story that outlines why you’re running this business it gives a much more clear vision of your reasons for introducing those products or services to a customer. It removes the uncertainty of purchasing when it’s a story and not a sales pitch.

 

Here’s a quick video that talks about creating your business why if you prefer to watch instead of read.

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