Daily Data 📈
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According to a study shared by Adweek, 75% of US-based enterprises intend to refresh their brand in the next five years. The pace of business is moving faster all the time, but doing something like rebranding is supposed to take time.
Here's when you know it's worth it to put in the work of a brand update:
- When your company is entering a milestone: expanding, going public, adding a significant new product or service, etc.
- The look and feel of your brand is outdated and/or doesn't match with your current messaging.
- Something about your brand is unclear or misleading.
- You want to appeal to a new or wider audience.
Take it from us: less than two years ago, REI Nation was called Memphis Invest. Yet, as our markets grew significantly beyond Memphis—including seven other markets at that point, to be specific—it no longer made sense to keep our home city in our name. See one example of us announcing our name change here.
Want to learn more about how we do business? Then don't sleep on the latest episode of The Grind Podcast: a recorded live webinar all about our company and how we're approaching current real estate market trends!
Don't Let Digital Illiteracy Keep Your Business in the Dark
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Digital literacy is the ability to navigate, assess, and effectively utilize digital tools.
It is an ever-evolving field. Because of this, it isn’t so much about being familiar with everything as it is learning how to adapt to new programs and technologies quickly. The faster you can acclimate, the faster you can take advantage of the benefits.
This Is How Small Business Owners Course-Correct
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If you find yourself in need of realignment, it isn’t a sign of failure. If anything, having to change course means that you’re taking necessary risks. After all, nothing can go wrong if you play it safe!
Think of it like human conflict. Conflict itself is actually very healthy. It can be a good and productive process – but only if you know how to handle it correctly.
The Word
Check out our recommended reading for the week:
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Why hiring your kids to work at the family business this summer can be a tax-smart move — for both you and them (MarketWatch)
- Though we're always going to recommend it, there's never been a better time to introduce your younger family members to your business.
- Why should you care? Just take a peek at the bottom line—or, in this case, taxes.
- Disagreement Is Good for Your Business (Inc)
- Is your team guilty of going with the flow? Then you're headed for a stale status quo.
- Why should you care? This is a skill that matters no matter what field or industry you're in.
- How Looking at Art Can Grow Your Business Skills (The Small Business Radio Show)
- Speaking of breaking free from boredom, how about this for shaking up the ruts your habits and patterns have made in your business?
- Why should you care? Don't knock how much art can affect us as people as well as businesspeople.
