business

By: Starr Hall: Web Branding
Source: Entrepeneur

Do you remember the story of Chicken Little? If one person tells you the sky is falling, you laugh at him. But if you're told the same story over and over, pretty soon you believe it. This also rings true with branding--just because everyone else is saying or doing something doesn't mean that it works.

Time and again I see entrepreneurs throw thousands of dollars away trying to grow their businesses with traditional branding techniques because everyone else is doing it. These branding myths can break a company before it even gets off the ground. Times have changed--technology has created new ways to build and brand your company; traditional techniques don't always work anymore. Being aware of the following five myths will help you avoid these mistakes and save countless hours of frustration.

Myth 1: Offering a consistent and great product will produce a successful business.

Myth 2: The more you spend on advertising, the more profitable you will become.

Myth 3: Word-of-mouth and referrals will make you a successful, profitable business.

Myth 4: You need to possess a wide range of skills to become a successful entrepreneur and brand.

Myth 5: The costs to brand your business (including advertising, PR, marketing and social media), are enormous.