Personal Branding vs. Company Branding: Which Is Better for Your Business?

TL;DR

First-time entrepreneurs should prioritize company branding because it is easier to scale and sell over time, despite requiring more upfront effort. Simon Squibb contrasts this with personal branding, which can build intense loyalty but may alienate 30% of potential clients and make a business dependent on its founder. He also explains how company brands can gain personality by aligning with compatible personal brands. Read on to compare the tradeoffs.

Transcript

my name is simon squibb and i'm a serial entrepreneur i built 18 companies from scratch and invested in 68 startups i left school at 15 and was retired by 40. hence today i can give my knowledge to you free about entrepreneurship today we're going to be talking about branding i'm going to teach you about branding now it's a very complicated subject... Read More

Key Insights

• 💪 Personal branding can create strong loyalty but has limitations and pitfalls.
• ⚖️ Company branding requires more effort but can be easier to scale.
• 🆘 Aligning with personal brands can help amplify the company's message and draw loyal customers.
• 🏛️ Building a company brand involves defining its culture and DNA.
• 👨‍💼 Selling a personally branded business can be challenging due to its association with the individual.
• ❓ It is important to consider the potential benefits and drawbacks of personal branding before choosing a branding strategy.
• ⌛ First-time entrepreneurs are advised to prioritize company branding before transitioning into personal branding.

Questions & Answers

Q: Should first-time entrepreneurs choose personal branding or company branding?

Simon Squibb recommends choosing company branding for a first business. It takes more work initially, but it is easier to scale over time and avoids making the entire business dependent on one person.

Q: What are the advantages and disadvantages of personal branding?

Personal branding is easier to create because it draws naturally on your identity, personality, and values. It can inspire strong loyalty and give you control, but Squibb says it may alienate 30% of potential clients and can be difficult to scale or sell.

Q: How does company branding differ from personal branding?

A company brand requires deliberate work to define the company’s DNA, culture, strengths, and weaknesses. Unlike a personal brand, it can lack personality, but it becomes easier to scale after the initial effort of building it.

Q: Why can personal branding make a business harder to sell?

A personally branded business may become inseparable from the individual behind it, making ownership difficult to transfer. Squibb says exceptions exist, but selling this kind of business is rare and can also create trademark complications involving the founder’s name.

Q: What should founders define when building a company brand?

Founders should define the company’s DNA and create its culture rather than skipping that foundational work. Squibb recommends translating the founders’ personality traits, mindset, and moral code into the company’s mission, vision, and culture.

Q: How can a company brand gain more personality and credibility?

A company can align itself with personal brands whose values and audiences match its culture. Squibb uses Canon as an example: praise from a famous photographer can inspire that person’s followers to form a loyal customer tribe around the camera brand.

Q: Can using a founder’s name as a brand create trademark risks?

Yes. Squibb describes a friend named Harland whose restaurant brand used his personal name; after the multimillion-pound business collapsed following a dispute with investors, the restaurant group owned the trademark and he could no longer use his name for future businesses.

Q: What experience does Simon Squibb have with branding and entrepreneurship?

Squibb says he built 18 companies from scratch, invested in 68 startups, left school at 15, and retired by 40. He also built the branding agency Fluid, sold it to PwC, and spent 10 years creating brands.

Summary & Key Takeaways

• Serial entrepreneur Simon Squibb shares his extensive knowledge on branding, with a focus on personal branding versus company branding.

• Personal branding can create loyal followers, but it may also alienate potential clients. Company branding requires more effort but can be easier to scale over time.

• Squibb emphasizes the importance of aligning a company brand with personal brands to leverage their influence and create a tribe of loyal customers.