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April 9, 2008

Build Your Brand Early

Many companies, when they first come onto the scene, grow exponentially because they have developed a better product, a better technological solution or an intellectual property no one else possesses. This is the time to invest heavily in branding efforts that deliver a memorable promise that customers can easily believe in and desire to be a part of. Why? Inevitably, a competitor will duplicate and perhaps even exceed the competitive advantage that the company owned early on. Don't kid yourself. It is very likely to happen.

By building the brand in strong compelling fashion from the start, a company will retain the leadership position in the market for many years to come. Xerox is the classic example in the business machines market. They held an advantage for years thanks to their early and aggressive branding efforts.