Back To The Lab! How To Reinvent Your Stalled Brand
There comes a time in everyone’s career when it needs a little fine-tuning. Perhaps you’ve had a major business failure. Or your career has just stalled and you find yourself going nowhere. Maybe it’s time to reinvent yourself and your brand.
‘You know it’s time to reinvent yourself when you lost the substance that connects you with your audience. If you are not a top selection when they need your service, then you need to get with someone who will help you develop better strategies. Reinventing means doing something in a new and different way. It’s time to reinvent when your skill set no longer matches the trend of this culture,” licensed life counselor tells us via email Shannon Battle.
But reinventing your brand isn’t easy. It’ll take hard work and honest evaluation. And get “yes” people out of your life.
“Be honest about why your past personal/business venture failed. Get the right people on your team that are smarter than you and will hold you accountable to your goals. And, trust your gut but be realistic about your vision for a comeback,” says Battle. “If you are not honest with yourself then you will not be able to make a clear evaluation of how to establish an appropriate plan of action. People have difficulty accepting failure so they attempt to do the right things in the wrong way. You have to have people around you who see the world from a different perspective (experience, influence) but also they have your vision in mind when giving you guidance. Our gut instinct is not always right when our emotions are effected by past hurts and perception of failure. You must write out your vision and have a plan to make it work. You know it’s working when it does what it should do.”
But you don’t only have to look within but outside as well. Examine the market and do thorough industry research. You will need to ask yourself a few questions. “Is there a market for whom you want to serve? Is there a need for your product or service? Who is currently serving your target market?” asks career and life coach Wanda Sealy. “If there are companies serving the same market then there’s clearly a need for your service. After doing this research and there is no one currently serving this market does not necessarily mean there isn’t a need but it may make it a bit more challenging to get it off the ground.”
As with most successful ventures, the timing has to be right. In some ways, timing is everything. It’s important to be current. You can’t get ahead of the market just as you don’t want to be behind the trends. “Comebacks can be successful depending on the timing of your idea with the mindset of your customers. For example, it doesn’t make sense to start a phone booth company when the majority of people now own wireless phones,” Battle points out. “You will rarely see success with inventing something that is premature to today’s culture of customers. You may need to start over. Starting over may be better so that you can take a fresh approach. It’s not as tedious as some may think, because you will have greater resources from your past failures.”
In the process of reinvention, don’t forget your past supporters and customers. You are not going to toss out your contacts, but instead make use of them to help you restart. “Go back to some of your previous customers/clients and show you valued their business, their opinion and the trust they instilled in you. Ask them how was doing business with you and your company for them and be prepared for their truthful answers,” says Sealy. “Or hire a secret shopper to go into your business and get feedback on your business. Really listen to how it was for them to do business with your company. Look deeply at the necessary areas needed to be improved upon.”
If you are working on your own personal brand, ask some of you most trusted contacts for feedback, for a personal 360 evaluation. This feedback can be vital to your reinvention. If there is one common negative thread running through all the feedback, then work on changing that to a positive.
After all, most everyone deserves a comeback.