PM360 January 2010

COMMON SENSE

DO WHAT OTHERS WON’T TO BUILD DOMINANT BRANDS

By Bud Bilanich

It’s 2010. Happy New Year.
I came across a U.S. government list of the top 10 New Year resolutions Americans make. It’s about what you would expect….

Lose weight.
Manage debt.
Get a better job.
Get fit.
Get a better education.
Drink less alcohol.
Quite smoking.
Reduce stress.
Take a trip.
Volunteer to help others.

I bet you have a few of these on your list as well. I do.
However, resolutions, like goals, without the commitment to do what it takes to keep them are merely wishes. I’m sure you have several goals for your brand as we enter 2010. If you want to accomplish your 2010 goals, you need to commit to taking personal responsibility for accomplishing them. You need to be willing to do whatever it takes.

Jerry Rice, the NFL Hall of Fame wide receiver and the man who has scored more touchdowns than anyone else, was famous for his work ethic. His workouts were legendary for their length and intensity. When asked why he worked so hard, he said, “Today I will do what others won’t, so tomorrow I can accomplish what others can’t.”

I love the ideas of “won’t” and “can’t” in that statement. They say a lot about the difference between success and failure; and they apply to successful product management. In my experience, mediocre product managers won’t do everything that is necessary to build their brands. That’s why they often find that they can’t build brands that reach their full potential. It takes commitment—to yourself, your brand, and your career—to build a dominant brand.

Commitment means doing the things that others won’t. Successful product managers are expert in everything about their product, customers, market trends, technology, the competition, marketing channels, the press, and analysts. They commit to spending the time necessary to become expert in all of these areas. They build credibility and relationships with scientists and get involved in the product development process. Mediocre product managers go with their strengths, don’t take the time to develop their expertise across the board, and often complain that their products don’t have enough or the right indications.

Just like Jerry Rice, successful product managers do what others won’t so they can build dominant brands.

Hope Is Not a Strategy, is one of my favorite books. It’s one of those books whose title says it all. If you get the title, you get the point of the book. And just like hope, commitment alone won’t create a dominant brand. You have to do some planning. Begin with a long-range strategy; turn it into annual goals, then turn these goals into milestones. Milestones help you stay on track and accomplish the goals you set for yourself and your brand. They are mini-goals. More important, they are a plan for accomplishing your big goal.

The Power of 10
Over the holidays, I read a book called 10-10-10 by Suzy Welch, Jack’s wife. She suggests that you need to think in increments of 10—10 minutes, 10 months, and 10 years—to really think strategically. It’s that way with brand management. At the beginning of a product’s lifecycle, ask yourself, “Where do I want this brand to be in 10 years?” This is the first step in developing a brand strategy. 

Break that strategy down into annual goals. As you create milestones for achieving these goals, ask yourself, “What do I need to accomplish in the next 10 (or more realistically 12) months to take this brand to its full potential?” As you go about your day-to-day work, ask yourself, “What do I need to be doing in the next 10 minutes to reach the next milestone, this year’s goal, and my long-range strategy for this brand?” This will guide your daily work. And with your commitment to doing what others won’t, it will help you do the things with your brand that they can’t with theirs.

Make it a great year.

Bud Bilanich, The Common Sense Guy, is a success coach, motivational speaker, author, and blogger. He helps his clients apply their common sense to achieve the career and life success they want and deserve. He has written five books on career and life success, which are the basis of his Common Sense Success System. For a free introductory DVD, go to www.CommonSenseSuccessSystem.com. PM360 readers can also get a free subscription, worth $97 annually, to his weekly ezine Common Sense or download a free copy of his 25 Audio Tips for Career and Life Success.