There's no doubt you're all aware of companies like Nike, Coca Cola, McDonalds, Pepsi, BMW, Google, Microsoft and many others.
There's a good chance you've bought or consumed their products. These products provide a certain utility to you. They make you feel happy and content. They provide value in some way, shape or form.
But these are more than just businesses or companies—these are popular, well-known brands recognizable anywhere in the world.
The great billionaire businessman Donald Trump once said that, "You're either a brand or a commodity." That's very true.
Anyone can open a restaurant and cook tasty hamburgers, which means there's lots of competition, where as a McDonalds restaurant is easily recognizable anywhere in the world.
Anyone can build a factory, hire workers and build a car, but when BMW makes a car, everyone immediately knows it's a high performance and quality car.
Anyone can learn programming and write a wordpressing software, but when Microsoft releases a new version of its famous "Word" application, everyone takes notice, buys and uses the product.
Brands are capital. Instead of trading your time for money and having nothing to show for it (except pieces of paper aka money) like people do when they work at their 9-5 jobs, you're building a factory. And once you build this factory, it's going to make useful stuff, earning you residual income without needing to work as hard.
Brands are more than just "making money." Even if you're not directly selling products or services, you're laying the foundation for something that progressively grows in value. That's called brand capital and brand awareness. Both of them are extremely powerful.
Brands don't require a million or billion dollar budget. In fact, they can be built for almost next to nothing.
A brand is a powerful connection with your customers. Or, as Jeff Bezos, CEO of Amazon said, "Your brand is what other people say about you when you're not in the room."
The bottom line is that a brand helps you differentiate yourself from the market and helps you stand out in a busy world. If you don't have your own brand, then you're a commodity.
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“If you don't build your dream, someone will hire you to help build theirs.”
— Dhirubhai Ambani
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