Chapter 2:
Why Build a Personal Brand?
At this point, you know that you don’t need to be a big company to build a personal brand. Here’s the reality, every entrepreneur, coach, consultant, author, freelancer, etc. should be building their own brand. You also know, you have to actively shape your personal brand, otherwise someone will shape it for you.
So let’s talk about some of the benefits of building a personal brand.
Personal Branding Allows You To Stand Out From The Competition
There are a lot of business owners selling the same thing you are online and offline. If you are going to have a chance to get leads on social media or have people visit your website, you have to stand out from the competition.
Your brand, values, expertise, and story all set you apart from your competitors.
Your competitors can’t bring what you bring to the table.
They simply don’t have what you have to offer. You’re unique. Only you are you.
You have unique:
● Experiences
● Strengths
● Beliefs
● Perspectives
● Skills
● Insights
...that set you apart from everyone else. By showcasing these qualities about yourself, you have an opportunity to highlight your strengths to your target audience.
And as you exhibit all of these strengths, you distinguish yourself from all your competitors.
Think about Rolex and how they’ve set themselves apart from the competition. Because they’ve focused on being exclusively a luxury watch brand, they have set themselves apart from other watch companies, like Timex.
Rolex is the brand for those who want a luxury watch, while Timex is the brand for those who want a sturdy, relatively inexpensive watch.
By working relentlessly to build their brand, Rolex has distinguished themselves from every other watch company.
The more you work to build your personal brand, the greater edge you’ll have over your competition. You’ll stand out amidst the crowd.
Personal Branding Allows You to Charge a Premium Price
When you craft a strong personal brand, you can charge a higher price for your products and services because they’re exclusive to you. One way to demonstrate the value of your brand is to create unique offers. This way your potential clients can view your offer as more valuable than someone that is selling a single item. Your services have to be viewed as something they can’t purchase anywhere else.
The stronger your brand, the more people want your services. The more people want your services, the higher the price you can charge.
This is exactly why Nike is able to charge so much for their sneakers. They’ve spent years building their brand into a powerhouse. Nike sneakers have become a status symbol, and wearing Nikes says something about who you are.
This allows Nike to charge exorbitant amounts of money for their sneakers The Nike brand automatically equals higher prices for sneakers.
You can take a page from Nike’s book. By working hard to build your personal brand and showing how much value you bring to the table, you too can charge a premium price for your products and services.