Last week we dug into what the 3 stages of business and brand growth are. This week, we’re digging a little more into this in both the why and how; the base for some of my favorite questions!
To see the full article go here, but if you’re like me and just want a quick recap so you can move forward (or decide if it’s worth your time to check it out) then here ya’ go:
Stage One: Freelancing and Custom Work
Aka, start-up phase for when you’re learning about yourself, your services, and your clients.
Stage 2: Signature Service
This phase is all about getting serious and taking control of what people will hire you for and the results you will help them achieve.
Stage 3: Passive Income Products, Courses, Additional Signature Services
You’ve got the soul of an entrepreneur, which means you’ll want to do more than one thing forever. This stage/phase is for when you’ve got your original signature service ticking like a charm and are ready to add another income stream.
Now, you may be thinking, “But Katherine, isn’t stage 3 kind of broad?”
You’d be absolutely right. It is broad, but that’s intentional on my part. I don’t know how you want to grow your business, but every time you do you’ll want to think about how it affects your brand as a whole.
I expect you to be going through Stage 3 many, many times with your business, but the branding solution for it is always the same in that we need to identify the positioning for your new offer (which means identifying ideal clients, needs, etc) specifically, and also plan for how it will fit into the bigger picture. Each time you go through a growth period, your brand evolves and needs a little bit of massaging to make sure it still flows and is in line with your overall purpose and mission.
As you may have noticed, the first two stages are all about getting more focused. The truth is that the third stage is also all about getting more focused. Once you start expanding your brand with additional offers, each offer has a specific focus, and that specific focus helps to inform what your overall focus and purpose is. That’s why it’s important to be very intentional when you release new products.
I find that each time I get more focused with my business, my purpose does as well.
For instance, here’s how Brandequip Designs purpose has evolved (FYI, your mission is how you achieve your purpose):
Stage One Purpose: Be in control of my own life
Stage One Mission: Be my own boss through owning my own business
Stage Two Purpose: Help others establish more control in their life through building thriving businesses
Stage Two Mission: Establish brands and websites for clients
Stage Three phase 1 Purpose: Build Thriving Businesses
Stage Three phase 1 Mission: Establish brands and websites for service-based businesses with growth in mind.
See what just happened there? By evolving my business to start helping entrepreneurs with multiple stages of business through branding I evolved my focus from simply being another brand strategist to being the Brand Growth Strategist.
My business and brand purpose got more focused even though I’m actually offering more services because I’m no longer just focusing on branding, I’m focusing on developing brands that grow.
Now, if that’s not a good brand strategy, then I’m in the wrong business. Granted, I didn’t do it for the strategy. I did it to better fulfill my purpose of building thriving businesses. In fact, I was terrified to make that change. I hadn’t seen anyone else really talking about it, or doing it, but that specification has shown me so many more doors that I want to open to further establish my place as the Brand Growth Strategist.
As your business evolves your purpose will likely get more and more focused.