Donald Trump went bankrupt five times during his career and every time he bounced back.
Today, whether you like him or hate him he is the most powerful person on this planet.
We all take life insurance.
Have you ever wondered that if for some unexplained reason, we do not die-what would be the return on investment?
A big Zero.
Then why do we take insurance?
Because we feel safe, we believe that we have done our duty towards our loved ones.
If something goes wrong, we shall be able to control the damage.
The story is same when we are trying to build a brand.
It is an insurance against failure, against your competition eating you for breakfast.
Against you remaining a small player for the next one hundred years.
Branding is creating positive vibes for your target customers, creating long-lasting trust.
When Mercedes Benz goes to a repair shop, even mechanics are surprised.
I once sold a product with Tata as a competitor-people refused to believe that anything could be wrong with a Tata product.
On the other hand, a non-brand like Suresh Kalmadi is destroyed within a few weeks.
Nobody gave him a second chance.
But when products like Nokia and Kodak fail, people are willing to give them a second chance.
Because they had invested in branding when going was good and consumers still have trust in the brand name.
People are ready to forgive you if you have made a bad call.
So, invest in creating a powerful brand-your product as well as your own personal brand.
We all deserve a second chance if something goes wrong.