Building your brand equity is the most important thing that you are not doing to grow your business. Many choose to focus on direct marketing and that’s great! If you do, keep doing it. Direct marketing is a fantastic way to increase your revenue now; however, building your brand equity will ensure that your business grows in the long term.
Bobby Klinck discovered this secret in 2018 and has been helping solopreneurs learn how to grow their business for the long-term ever since. Listen in to discover how Bobby learned what to focus on to help him grow his business.
You will want to hear this episode if you are interested in…
- Bobby’s story [1:22]
- What he learned [13:10]
- Bobby’s target audience [18:20]
- Building brand equity and why it is important [20:18]
- Putting in the time [30:10]
- The money questions [33:25]
How Bobby Klinck went from being a Harvard Law grad to an online entrepreneur
Like many solopreneurs, Bobby has an atypical background–he is a Harvard Law grad turned online entrepreneur. Even though Bobby had great mentors and a prestigious law resume, he veered off the standard lawyer path. After spending years as a litigator, Bobby realized that he hated his job. He no longer wanted to be a cog in the law machine. He wanted more control over his life.
This epiphany led Bobby to discover the online marketing world. As a solopreneur lawyer, Bobby understood that he needed more clients to make his business work. He tried all the strategies that the marketing books told him to do, but nothing worked to get more clients in the door.
Giving without expectations changed Bobby’s life
Since the typical direct response marketing didn’t work for Bobby’s business model recognized that he had to build up his reputation and his brand. Marketing to other lawyers wasn’t going to build his business. He had to find another way.
In 2018 Bobby had a pivotal moment in which he realized that giving was the way to make genuine connections, so Bobby has been giving ever since.
Giving without expectations and building real connections with people not only changed his business, it changed his life. Instead of thinking of people as potential transactions, he chose to help with no expectation of something in return.
When he decided to serve people rather than simply try to make more money, Bobby found his solution. He dug in and focused on giving as much value as he could to people in online groups, blogs, and podcasts. This allowed him to serve his target audience without worrying about whether they would buy his product.
Brand equity is one of the most important long-term assets you have
Solopreneurs typically don’t focus on building their brand equity because they are more focused on ROI. While ROI is important, brand equity is one of the most important long-term assets that a company can build. As a solopreneur, it is important not just to think about your business today, next week, and next year. You want to ensure that you focus on the long term. Where do you want your business to be in 5 or 10 years? This is where brand equity kicks in. Building a reputation starts now.
Creating consistently good content, engaging with people, and providing value without expectation is a long process. Just like interest compounding over time, the results from building brand equity will not happen overnight. You have to be willing to put in the time. People underestimate what they can do in a year or two but overestimate what they can accomplish in a day. What are you doing now to build your brand equity and make those long-term investments in your business?
Resources & People Mentioned
- BOOK – The Slight Edge by Jeff Olsen
Connect with Bobby Klinck
- Bobby on Facebook
- Bobby on Instagram
- The Certified BADA$$ Online Marketing Podcast
- BADA$$ Online Marketing University
Connect With Gabe Nelson
- BOOK – The Solopreneur’s Money Manifesto by Gabe Nelson
- FREE Downloadable Resources at https://www.gabenelsonfinancial.com/resources/
- EMAIL: Gabe (at) GabeNelsonFinancial.com
- Follow Gabe on LinkedIn
- Follow Gabe on Twitter: @GabeNelsonCFP
- Follow Gabe on Facebook
- Follow Gabe on Instagram: @GabeNelsonCFP
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