Scott Saunders | When ego leads to a trophy business, that business will never become a trophy brand.
Achievements in life are a thing to celebrate. We desire affirmation and self-worth. We love to cheer on our sports teams. We celebrate the Olympic medalists and tune into the Oscars. Ribbons, medals, trophies, and career awards are not inherently bad, but too much of a good thing can sometimes lead to a bad thing.
>>Listen to the companion podcast episode to this article on Brandy: Apple Podcast | Spotify
For some individuals, the recognition and praise covers up their own insecurities and results in a distorted ego. We can all think of at least 3 or 4 people in our lives that have rather large egos. Plainly stated… it’s all about them. Now for some of these people, they may have built very successful professions, careers or even a small or medium-sized company. They purchase fancy cars with homes to match to help proclaim that they have worth and value. And these visible “trophies” are displayed for all to see and envy. That’s why we have terms like “trophy deer (hunt)” or even a “trophy wife”. For some of these individuals, they find themselves with financial means to either buy or start another business on the side. Whether it is a line of apparel, beauty products or a boutique winery or vineyard, the sad truth is they have a trophy business — one that exists solely as a boasting point. And when it comes to the longevity of the business or the resonance with its audience, it will never be able to build a trophy brand (one worthy of awards and praise) that accomplishes this.
No Direction
For any business and brand to grow, it needs to not be stagnant. It needs to pick a direction and move in that direction. Like a compass on a ship, that point on the horizon is that growth, and direction is what allows that business to accomplish it. The business owner examines where the business is and decides where they want it to go and steer it.
Now when a business’s reason for existence is to just be shown off by the owner, the focus is not ahead or the horizon or the stars, but right where the ship is and for those in close proximity of it. In order for a successful and thriving brand to exist, it needs to always be moving. As soon as a brand isn’t evolving slowly in some way, laziness will dictate that the market sector will evolve without it or a competitor will gain a good foothold in the market.
Wrong Filter
Since brand is the relational aspect of any business with its customers or audience, a successful (and trophy-worthy) brand relies on a certain filter by which all business decisions are made. Yes, there is the realities of profit and loss that can force businessdecisions, but most business decisions will have some impact on the perception the audience has on the business. Having the right frame of mind or filter that accounts for the brand and making sure it maintains its clarity, consistency, and distinction is paramount to success. When the filter is an owner’s ego, the decisions (from pricing and customer service to interior design and consumer experience) are left to whims. Decisions may not make sense, but the small business falls in line so the owner gets what they want and has something to show off to their friends and the world (like any other trophy). Again, the soul of the business is to be displayed and showed off, that filter will destroy the chances for a truly successful brand. A successful brand is one that connects and aligns with the audience, not the other way around.
Lacking Strategy
Lastly, these small ventures or businesses (that serve a nice addition to the resume) lack any real strategy. They may not even be that profitable in the books and the owner doesn’t care. As long as it looks good enough to boast about and show off. But to have a truly successful business, it needs to have a brand strategy that is always finding ways to connect, relate, empathize, and resonate with its customers and potential customers. When the business starts doing erratic, impulsive or self-serving things that don’t align with the strategy, the brand — the perception of the business — will suffer for it.
The fact is that these various small trophy businesses will exist as long as there are egos with deep pockets. This can’t be avoided. But if those same individuals desire a top-echelon of recognition for their business’s brand, that “trophy brand” will never be attained.
