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Monday, 25 February 2019

A letter to an Entrepreneur - 5

Dear Entrepreneur,

       It's been long since I am associated with your Organization as a 'well-wisher and supporter'. I have seen the growth of your Organization over the years; very closely. I have learned many things about 'Effective Below The Line Marketing' from you. Many times I copied your strategies and followed your footsteps. But I have noticed that your Market share is decreasing considerably from last few years. And even after your strong presence (more than 15 years) in the Area, you have started to lose the competition with others. And I guess I know the reason behind it; so decided to share my observation with you which you may find useful.
Deepak Doddamani

        Whenever any businessman starts his Organization he works really hard to gain a reputation and a brand image. But once he gets settled properly he reduces his force in branding and concentrates more on en-cashing his previously earned reputation. During the growth of his organization, he manages to create one more brand along with his Organization Brand; that brand is his 'Own Name'. It's logical that the name of the founder gets associated with Organization quickly once the Brand Value of the firm increases. And it's also helpful in getting new clients or entering altogether into the new market; near the existing one. But once you achieve this stage the 'egotism' starts misguiding you and you end up deteriorating your brand Image.

           An Entrepreneur is also a leader and he must lead his employees as a Captain of Ship. But he must also be alert enough to give credit of Success to the 'Team' and take the responsibility of failures on his own shoulder. In your case, you are doing that properly. But you are overshadowing your own brand. An entrepreneur should always promote his Organization more rather than promoting himself. When your name becomes a Brand it should help you to increase the brand value of your Organization. For that reason, you must understand which brand to promote where? I can give you an example of 'Being Human' Organization. NGO of Salman Khan has equally become a reputed brand. People are buying stuff like T-Shirts, Caps etc. and helping the promotion of the brand. The reason behind this is very clear. Sallu never promotes brand 'Salman Khan' whenever he does any event of 'Being Human'. He completely talks about his NGO and their work. He keeps brand 'Being Human' ahead and hides brand 'Salman Khan' politely. Can you say the same thing about ABCL or Dreamz Unlimited? No.

           I know you will surely think about my suggestion. Be clear; where to promote your Organization and where to promote yourself. Rest you know better than me :)
Sir; I will call up and decide our next meeting. Need lots of guidance from you.

Deepak Doddamani

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