In the past topics I have discussed having a good gut feeling. In fact if you read how Donald Trump does deals you will find pretty quickly that he takes in mass amounts of information to determine a gut feeling. The good gut is always something noteworthy in any new business transaction.
What I want to focus today is the Ah-Ha effect. Its very similar to the gut feeling but there is a call to action behind it. For instance, If I am looking at a property to buy I might look at the overall area. I might also drive around at different times of day. I will also call other property owners to get an idea for what they would sell their property for and even what they might say about the neighborhood. That gives me a gut feeling and I did learn that one from The Donald.
In doing my research I might look at this property and then see a gem. That’s my Ah-Ha moment! For instance, I might do a little research there and find that this property has minerals underneath it. If the price is right then this becomes a no-brainer. I do not invest in things unless they are no-brainers.
The same is true for your branding. In my client’s case she was looking to do a logo. She had her designer come up with some stuff that I felt really did not fit her. I’m just one opinion but I felt that when someone looks at her logo they should say: “Ah-Ha” in their head because they get it. Is that the case for all companies? No. Do you get an Ah-Ha when you see FedEx or Coke? No, I don’t. I do get an Ah-Ha when I know what their business does and I see their logo somewhere placed somewhere. I know what to expect and with what level of consistiency based on my previous experiences.
That takes thousands if not millions in branding dollars. You will spend less if you can project an Ah-Ha on someone. This is what I wanted to have my client focus on. Just find that Million Dollar name as Donny Deutsch would say. You need to be as clear as possible with what you do. If your company is an umbrella with other hats then it will be a little more complex but you need to try to keep some kind of constant thread. Since we used Trump’s name then we can use him as an example. When I say TRUMP, what do you think of? I seriously doubt you think of apartments with a super banging on doors collecting rent, although that’s kind of how he started out in Manhattan. Rather, when I say TRUMP, you think of bigger than life luxury. If the TRUMP name is on it, it’s probably a safe bet that it is the best. If you don’t like the guy, I understand, He can be easily disliked but look at his latest project in Dubai. Even if you hate this guy you will want to stay at the Trump Dubai. You will do it because you know for a fact that if you spend the money to visit Dubai (and you will spend some money) that you want to be sure you stay somewhere that is the best.
This is how you project the Ah-Ha effect on others even if they don’t like you. Sometimes it takes time to develop your brand to be able to do this. If you find yourself building a brand like Trump or Ritz Carlton, you will find that it will be possible to sell or even lease that brand.