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The 3-Step Formula To Building Cult-brand Status as a Visionary CEO
79 Plays3 months ago
In today's episode of The CEO's Wing Woman®, Olivia dives into a super exciting topic – the 3-Step Formula to Building Cult-Brand Status as a Visionary CEO. Get ready for Olivia to share the three key pillars you need to focus on to elevate your brand – creating a bulletproof business, building an iconic brand, and stepping into magnetic leadership. This episode is jam-packed to help you transform your business into a cult brand. So, tune in and let's get started on this journey to iconic status!
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Transcript
00:00:03
Speaker
um Welcome back to another episode of The CEO's Wing Woman. Today we're covering a very exciting topic and that is the three-step formula to achieving cult brand status as a visionary CEO. Now, there's a lot that I could say on this topic, but I want to keep it relatively short today so that we can just touch on the three key pillars, what they are, and what you need to know about each of these pillars. So I believe that when it comes to achieving cult-like status as a brand, there are three main things that you need to focus on, and they are creating a bulletproof business
00:00:39
Speaker
an iconic brand and stepping into magnetic leadership. So when you think about those three aspects, it is business, brand and leadership. So let's start with bulletproof business and unpacking what a bulletproof business is. Well, we know when we think about business, there are several factors that make a strong business. And one of those is strategy. It all begins with strategy. And as a business consultant, I have a firm belief that you must always start with strategy first before jumping ahead into execution. so It makes sense that to create a bulletproof business, you start with the strategy. You start with articulating and creating a winning strategy for your brand that sets the right foundations for your business so that you can build your business from a solid base. Before you start to jump ahead to the execution, always beginning with strategies so that you can get your game plan together. You know exactly where you want your business to end up.
00:01:40
Speaker
and then you can begin executing. So once you've created your winning strategy and once you've been able to articulate what your strategy is, including your vision, your mission, your values, your strategic objectives that you're working towards achieving, then you can get going with your marketing and starting to position your brand in the marketplace, starting to create awareness and driving leads so that you're able to work towards sales. Now, Marketing is the most important thing because you need to start with marketing to create leads. And then when you have leads, of course, then you can turn those leads into customers. But really nailing your marketing is very important, particularly in the early stages of business. So you can get your product or your services out there and you can be known as the authority in what you do. But starting with the marketing piece first is really important. So
00:02:32
Speaker
that comes down to really nailing who your target audience is. So you'll be surprised by how many businesses haven't actually articulated who their customer avatar is, who their target audience is. So working towards documenting your target audience, knowing everything that you can about them, including the demographics, the psychographics, what drives them, what their pain points are. So really deeply understanding who your target audience is, so that you can create messaging that speaks directly to their desires, that speaks directly to their pain points. So marketing is the second part of having a bulletproof business. And thirdly, we need sales. So every business needs to make sales to survive. And this is, again, something that can be overlooked in the business process of creating
00:03:20
Speaker
a bulletproof business is sometimes we can put a lot of effort into the marketing piece and then forget the sales component. So your sales process, your sales strategy, putting the effort into creating an offer that again speaks to your target audience is really crucial. So they are three main factors that create a bulletproof business. But it's not just about business. It's also about brand and this is something that I'm very passionate about having worked with over 500 visionary CEOs in the past five years and Growing up in a family business that my mother had a successful brand, I know a lot about the difference between business and brand. So when you think about brand and having an iconic brand, an iconic brand is really being known as the go-to authority. Because when you first start your business and when you're first putting effort into creating a brand, you're relatively invisible.
00:04:17
Speaker
You're a hidden gem in the market. And so what we're looking to do is take the brand from being a hidden gem to being a well-known iconic brand, being the go-to authority. And there are three main factors that make up an iconic brand. One of those is having raving fans. Every iconic brand has a following. They have a cult-like following. They have people that absolutely love the brand and we call those raving fans. They are the people that when you say jump, they say how high. So that really comes down to your ability to connect with your customers to deliver amazing experiences through your products and through your services and have a trustworthy brand that they can rely on.
00:05:04
Speaker
The second piece is being known as a household name. The ideal scenario when you create an iconic brand is that you become synonymous in your industry. So when somebody thinks of your product, of your service, of your industry, they think of you, they think of your brand. And the branding piece as well is really about how people speak about you when you're not in the room. So that's a big piece. It's the perception of your brand. When you're not there to pitch your brand, when you're you're not there to defend yourself, how are people perceiving your brand? So it's the perception of your brand. And this is why it's so powerful. And a lot of the time when it comes to creating raving fans and being known as the household name in your industry, it's really about not just what you do and what you believe in, but also what you don't.
00:06:00
Speaker
So this is really important to think about as well when it comes to your brand. Are you clear on the things that are important to you? Great. But are you also clear on the things that you don't stand for that are not aligned? Because sometimes that tells a lot more of a story than the things that you do stand for. So that household name, that positioning piece, how you're perceived in the market and being known as the synonymous choice in your marketplace when people think of your products, of your service, ah or of your industry as well. And the last piece is something I like to call intrinsic identity. So intrinsic identity is components of your brand, the value in your brand that transcends the balance sheet. I'm not talking about your assets. I'm not talking about your inventory, things that you can measure on a piece of paper. I'm talking about the invisible value of your brand.
00:06:54
Speaker
So what positioning do you have in the market? How much power do you have in terms of your customer base and how they perceive you? how engaged they are, what happens when you launch a new product or you launch a new service. Do you get customers who are just absolutely besotted with your brand and they're so excited every time you launch a new product or you launch a new service? So I'm sure there are some brands that come to mind that you believe have achieved cult-like status. And I know you know what I mean when I talk about intrinsic identity, this invisible value behind a brand that
00:07:31
Speaker
you wouldn't necessarily be able to measure on paper, but genuinely exists. And to build a brand that is iconic, to build a brand that has cult-like status, that has raving fans, you know, is a household name in the industry, is the go-to authority and has intrinsic identity, takes minimum three to five years. It just does. It takes time to develop brand, And it's not something that you can shortcut. It's not something that you can necessarily fast track. But as you start to bring all of the pieces together and really zoom in on the things that are important to you as a brand and stand by that and be totally congruent in your approach, it will happen. So this intrinsic identity piece takes time to come together.
00:08:18
Speaker
It starts with the fan base, then it goes to the household name and being known as the authority in the industry, and or over time you start to build up intrinsic value, which is super important in the context of iconic brand. But it doesn't just stop there. It's not just about bulletproof business and it's not just about an iconic brand. You need more than that. And when you think about brands that have achieved this level of success, this cult-like status, there is more than just a bulletproof business and an iconic brand. There is always a magnetic leader that is the visionary inside that business. So what we're talking about when we say magnetic leader is someone who has relentless ambition. I'm talking dog with a bone, will not let it go. They have an idea. They might have this entrepreneurial seizure one day where this idea comes to them and they just cannot let it go.
00:09:14
Speaker
And even when they're told that it won't work, I don't think you should do it. I don't think that this idea has legs. They're convinced and they go ahead and they launch their business anyway. And they just know in their heart or in their gut that this is what they're meant to be doing. Now, these magnetic leaders have a vision and this is why. We work with visionary CEOs that Olivia Jenkins consulting. This is our ideal client and I know this archetype very, very well. The magnetic leader is relentless and there are three main characteristics or three main functions within this magnetic leader. And that is number one, the CEO confidence, which again, a little bit like intrinsic identity for a visionary founder, sometimes that can take time to develop.
00:10:03
Speaker
because a lot of visionary founders are not necessarily your stereotypical accountants or lawyers or you know professional services background people when they start their business. They might have come from a completely different industry. They might have come from a health profession. They might have come from an education profession. So there are so many examples of incredible visionary founders that have developed amazing businesses who are not actually your stereotypical business person to begin with. So it takes time for them to develop this CEO confidence and to really step into their power as a CEO to learn CEO productivity.
00:10:44
Speaker
to learn leadership capacity and also to learn how to take care of themselves as well. Because let's face it, as the CEO in the business, you are the number one asset. And if you go down as a visionary, it's not a good thing for the business. So that's also a very important aspect of developing that CEO confidence. The second piece is the execution velocity because like I said a moment ago in the context of strategy, it's not just about creating the strategy and hoping for the best. It's about execution. And if you want your business to succeed, it has to be more than just thinking of the strategy. You have to actually do something as well. You have to implement and you have to execute. And in the most successful businesses, what you'll see a lot of the time is a magnetic leader who's not afraid to make mistakes.
00:11:36
Speaker
They don't believe in failure. They believe that every opportunity that you have to learn and grow will make you stronger and will make you better because you can bring those learnings forward and you can utilize those learnings in order to improve your business. So the second piece in the magnetic leader is the execution velocity, the implementation velocity. They get stuff done. They run. They don't walk. We have this saying it's called running to the printer instead of walking to the printer. That's what I'm talking about here. I'm talking about the people that run to the printer. They don't walk. They make decisions quickly. They execute quickly. And when I think about clients that I've worked with that are all-star clients that have had successful businesses, phenomenal success,
00:12:23
Speaker
They are the people, they are the clients that we have a meeting, we develop an action list. i sit I send them away to start implementing and they are on fire. Bang, bang, bang. They get everything on the list achieved as quickly as possible and they're ready for the next thing. They're not worried about every little thing being perfect. They're not caught up on every little detail. They're just worried about getting their list achieved and they don't overthink things, they just do. and that ability to implement quickly and be okay with getting something wrong is a very big success factor when it comes to the magnetic leadership. And lastly, it's the top 1% performance, the top 1% thinking. It's having high standards because you either accept the standards or you create them. So at any given moment, you're making one of two decisions and that's either to set the standard or to accept it. And when you work for a magnetic leader, if you've worked in these types of businesses before, you will know that a magnetic leader has very high standards. They are very particular ways that they like things done and they are generally a magnet for people that are high performance as well. They generally call in other top 1% people because when you have this mindset,
00:13:40
Speaker
of really wanting to be the best at what you are, the best at what you can be, and really reaching your full potential. You naturally call in other people that are at that standard too. So as a magnetic leader, it's all about having the right people in the right seats. And let me tell you, magnetic leaders, and when I think about this across clients as well in terms of all star clients, magnetic leaders understand the power of who, not how. They understand the power of having good people in the business, having good people on their team, because when you have great people on your team, you're stronger together and you can go further. So it's not just about being you on your own amazing, but it's about going far together with a winning team. So when you combine these three things, when you combine Bulletproof Business, Iconic Brand and Magnetic Leader, it is the recipe. It is the formula.
00:14:36
Speaker
for cult-like status as a brand. And that is the ultimate aim of many visionary CEOs is to create a brand that has this level of intrinsic identity, that has this level of success as a business, that it will stand the test of time. It's not a business that yeah they're worried about cashflow. They're not worried about things on a daily basis. They're not in the red zone or in crisis mode or in emergency management every day. They are clear on their strategy. They know what their marketing plan is. They know what their strategy is in terms of their marketing and they have a sales process. And when it comes to their brand, they are very focused on their customers. They listen to their customers. They seek feedback from their customers and they implement accordingly. They are a household name. They make decisions and choices that reflect what they're aiming to achieve in terms of the positioning that they aspire to have in the market and how they want to be perceived. They understand that sometimes you need to make what would be, quote unquote, a bad business decision to prioritise a good brand decision. And they have the discernment of knowing when it's the right time to do that, when it's the right time to prioritise brand over business. And finally, they understand the power of stepping into They're top 1% thinking. They understand the power of looking after themselves as a CEO and ensuring that they have the support that they need to become the best leaders that they can be to drive their business to success. And they're also very coachable and they're happy to implement quickly, not overthink things, but also use discernment when they need to take time on something and when they need to get it right.
00:16:24
Speaker
So hopefully this has landed this episode today and you've enjoyed understanding the three-step formula to creating a brand that has cult-like status as a visionary CEO. So when you think about your business, I'd love for you to go away and start thinking about how you could create a cult-like status brand and how you could implement some of the things that you've learned in today's episode inside your business. Until then, I'll see you inside the next episode.