I manage multiple brands, all of which market and sell their respective range of leather goods and services.
Generally, entrepreneurs recognise the need to inject a certain business spirit into their painstakingly chosen and designed brand.
However, most if not all have not considered that a certain brand name has its inherent spirit inseparable from the name. Pushing the brand in a certain planned direction by the entrepreneur weakens that brand effort.
For example, my business Broadway Leather Co. “found” better traction with the sales of leather sheets and scrap leather than corporate gifts. This in spite of the fact that Broadway Leather Co. has its decades-old roots in manufacturing leather products.
In the same vein, the omnipresent luxury brands that one recognises on a glimpse got off to a right start in a name and pursued a direction that aligns with the inherent spirit of that name. While there are undeniably reasons of hard work that contributes to a successful brand, to adopt this line of reasoning negates the hard work by millions of others who have walked the same path but failed.
This has real consequences for an entrepreneur in that there aren’t many decades of life in him to see him through at least a decade of affirmation in his direction in relation to his brand name, for just one brand.
Once settled upon, failure or success is entirely a matter of statistics vis. the amount of research and homework he has done. To have to reboot after years of effort would be discouraging.