Almost 2 years ago my girlfriend had the opportunity of buying out her boss’s business. She was working in the shop for less than a year and her boss decided to go back to her native country Canada.  This wasn’t an easy decision to make.  In a period of a year and a half I bought a new Car, I bought a house, I changed jobs, I coincidentally we booked a holiday to Canada and now we faced a decision to buy a business.

We weighed in the pros and cons and we decided to go for it.  We coughed up all the remaining money we had, I took out my life savings and we went for it.  It was one of the best decisions we have ever made.  Sure the business had it’s ups and downs but that’s natural for any startup business.

Now there is a decision to be made, her contract is ending and the lease on her shop is going higher and the land lord won’t budge, which doesn’t make it feasible for her to keep the same place.  We currently have two opportunities.  One is a shop just up the road which needs fixing, the other is an established hair and beauty salon which looks absolutely amazing, top notch interior design and a steady flow of clientele.

The major difference is the latter is charging her for rent (of course) and won’t allow her to keep her shop’s name, not even her personal phone, essentially the brand that she’s been building for 2 years.   This guy wants people to build his brand, while they pay him for it instead of paying them, it’s a smart move from his part but not smart enough.  If she left that salon after 2,3,4 years she would have to start over.  Is that worth it? Definitely not.

The reason I am telling you this story is because I believe Brand is Everything.  A business owner must understand that You are the Brand and the Brand is You.  A brand means “the feeling customers get when they use your product or service”. That is what you should build on.  This is what will give you long term value and will gear you to sustainable growth.  If you have a chance to make quick money go for it, but don’t sell out your brand.

“What”s a brand? A singular idea or concept that you own inside the mind of the prospect.” – Al Ries