I am someone who is always excited by the next corner of my business, but as of late—and likely brought on by the pandemic—I’ve been feeling like certain aspects of the business I’ve built over the past few years just don’t quite fit. Like there’s some little nagging at me that I’m not quite jiving with anymore.
The truth is, this happens a lot as your business slowly grows and changes. As you grow and change. And it’s not a bad thing or a sign of failure, it’s simply a sign that it’s time to make some tweaks to your business: it’s time to rebrand.
What is a Rebrand?
When a company rebrands, they adjust the company’s overall image, look, and feel to match its growth. Sometimes that means a name change and a new logo, it can also mean a hot new website or a great new content asset like a podcast. But what it really means is that you’re changing your business outside of your business to match the inside. This often comes with reworking the language you talk about the business with and things that shape it like values, goals, and community initiatives.
How Can You Tell It’s Time to Change?
From a practical mindset, businesses should actually undergo some kind of rebranding process every five years—this is a little-known marketing rule and it really serves to shape your brand for the current times so you don’t fall behind. But from a fewer sales perspective, your business changes significantly year after year, and chances are the business that existed five years ago no longer looks the same.
However, if you’re not sure whether or not a rebrand right now is for you, the truth is you’re probably not ready yet. Here are a few ways that you can tell that you’re ready:
You’re Losing Your Passion
We go through ebbs and flows when it comes to “passion” in business. Some days it’ll seem exciting, fun, and like you’d never want to do anything else. But others you’ll be pulling out your hair wondering why you left your old job. If you’re losing your passion it’s probably not because you suck at being an entrepreneur, but more likely that you need to examine your business and make some changes.
Things Aren’t Functioning Properly
This was a big one for me when it came to deciding to do a rebrand. The systems I set up initially were not being used because they really didn’t work well for me, and therefore I wasn’t using them. My stuff was all over the place and it was incredibly frustrating for me. So, it was time for me to revamp, tighten up, take a look at my marketing and client services and rebuild some systems.
You’re Not Getting The Message Out There You Want
This is especially the case if you’re running off a personal brand. If the message that’s going out there, that you feel people are getting from your business is not what you want it to be then it’s probably time to make a change. As soon as you feel like you’re no longer telling your own story, a new version of your story is ready to come out.
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Tae started out as a journalist before following the money into the corporate world. But it turns out that the grass isn’t always greener and now you can find her spending most of her time writing about all the things she loves. Namely, money, travel and business with a hefty dose of self-deprecating humor. She is a podcast fanatic, blogging aficionado and loves to find new ways to turn passions into cold hard cash!