It's important to look at your business, your brand or a product or service you sell and assess it's value. Don't look at it's value to you, but rather to the outside world.
Brand values are defined by the crowd and can change, sometimes overnight. What did GMs brand stand for a couple of years ago? What about today? You assess values all the time in your life when you make decisions about relationships. This decision is based on 'people qualities', agreed values, etc.
The great aspect of friendships and relationships is that we have a choice, we get to pick who we spend our precious time with. When things are going great, it's all good times. We enjoy the hang-outs, watching the game with beer and pizza, spending time with our significant other at the beach, a museum, tailgating. These are easy to do.
But what happens when the going gets tough? Who do you spend your time with then? Who can you rely on? When the party is over are your friends still there? What value do they provide when you need support, advice or just someone to help you move on a Saturday morning?
Now look at yourself. Are you there for the people in your life? Loyalty is an incredibly powerful, binding force between two parties. Think about man's best friend.
The loyalty in a pet dog is something to behold. We want the essence of that in our relationships, don't we? We celebrate these types of traits with symbols in our lives all the time. Take Jan Van Eyck's portrait titled 'Arnolfini and His Bride' for example. The presence of the dog in the painting represents fidelity. In an era when portraits where akin to branded advertising, the visual communication of religious values, family wealth, stability and fidelity was as influential as ever, the use of these symbols were part of a brand strategy so to speak.
In business it's important to assess your value and what you stand for. Are you loyal? What do you mean to your customer when they don't have as much money to spend? Can you still maintain a relationship? Does your product last as long as advertised? Or in GM's case, is it still relevant in today's world?
This is so essential to focus on through a recession. Think of how you feel about the friend that wasn't there for you when you needed them? There is an interesting parallel there.
What do you stand for? People regularly make that assessment of your business so be prepared.
