How to know when your business is really an expensive hobby. Lesson 4: doing the marketing and brand
Deciding on your brand and marketing is good. Featuring in your brand and marketing is good. But actually creating your brand and marketing is bad.
Unfortunately, we did all three. While creating the brand and deciding on our marketing strategy was something we enjoyed, the fact we had to implement it as well was because we couldn’t afford to pay anyone else to do it for us. We heard of other businesses spending £20,000 just for someone to design their logo- £20,000 was almost all the money we had.
Doing the marketing and branding yourself
I should point out that having the ultimate say in your branding and marketing is essential. Though once you have a rough idea what your brand and marketing strategy is, the person who actually creates or implements it should be someone else. You can either employ someone full-time or just outsource the work, but either way, you should be focusing on other things: namely, making money.
However, we were caught between creating a drink that stood out and actually selling them. In the end, we ended up spending too much time creating the brand and marketing our drinks. This was evident from the fact that our lassis are probably one of the best-looking drinks you will never taste. We also won numerous local and national awards, which were invaluable when promoting Lashbrook Lassis. However, we were losing money. The fact is, the logistics, numbers and sales figures weren’t good enough to sustain or even grow the business. As a result, after the money ran out, we had to walk away from our really, really good-looking lassis.