When something goes wrong and you need a product that will fix it, experts say that generally one to three brands of products will come to a customer’s mind due to perceived value and advertising. If your brand is not one of the three brands to come to mind, you won’t see the loyalty or the sales that will come to those top three brands. This is why it is crucial that your product has a strong brand attached to it. People attribute value, benefits, and prices to brands.

At a speech to Utah State University, VP of Marketing, Rick Haskins, on the CW network talked about the importance of branding. “Trying to be all things to all people will fail, because it is impossible.” That is why it is so important to establish yourself as the best at something in your niche.

Haskins went on to talk about the first time CW auditioned women for “America’s Next Top Model.”  Few could handle a runway walk or talk about their reasons for applying. Now, applicants can walk the walk and talk the talk, declaring themselves as “the smart one,” “the fun one,” or “the one who is going to win.” Young people who grew up watching reality television get the concept of self-branding, Haskins said. ( Nancy Van Valkenburg)

What should your company be branded as? Look at your strengths as a company and the benefits you can offer. If you don’t plan on competing on price, something else should set you apart. Quality or speed of delivery may be your strengths. Find them and stick to your guns.

Your brand should dictate all your company does. Your brand should seep into the way your business is run. When it does your customers will have no trouble identifying what you stand for and what they can expect to receive.

Redbox's Ingenious Branding

Redbox is a great example of extensive branding. Convenience is one of Redbox’s most important benefits. They position their products in convenient locations like grocery and retail stores, gas stations, and pharmacies. Considering customers are always present in these locations, picking up a movie is that much easier. It’s just one less stop they have to make.

They continue to make the movie rental process easier by listening to their customers and participating in social media. For example, “Consumer requests for a more convenient return program, for instance, spurred Redbox to launch its ‘rent and return anywhere’ program.” Refusing to stop at that, they’ve encouraged online registrations that reserve your video and let you know which Redbox location has the dvd you want to rent. This eliminates the disappointment of arriving at a location and finding out that none are available.

The very design and vending system of Redbox screams convenience. The movies are easy to find and quick to rent, and their kiosks are easy to identify in stark red. They even incorporate their brand onto the dvd cases that are encased in simple packaging with clear directions on how to return the dvd. Ingenious! The branding is incorporated into everything!

What benefit does your company, or you as a seller, want to be known for? What will resonate with your customers? How should you portray the benefit? The answers are different for every business. However, a strong brand adds value, trust, and eventually profit to any business. Think of all the value a strong brand could add to your business.

For more tips about selling online and building your business, please follow us on twitter: @gogodropship or visit our blog.

If you’d like to sell well-known brands, consider drop shipping with GoGo Dropship. With millions of brands to choose from you’re sure to find something that interests you.

http://adage.com/article/print-edition/redbox-america-s-hottest-brands-2010/147056/

The IRS has a website dedicated entirely to the subject. So what do they say is the difference? The following questions provided by the IRS website should give you some idea of how they determine if a venture is a hobby or business.

• Does the time and effort put into the activity indicate an intention to make a profit?
• Do you depend on income from the activity?
• If there are losses, are they due to circumstances beyond your control or did they occur in the start-up phase of the business?
• Have you changed methods of operation to improve profitability?
• Do you have the knowledge needed to carry on the activity as a successful business?
• Have you made a profit in similar activities in the past?
• Does the activity make a profit in some years?
• Do you expect to make a profit in the future from the appreciation of assets used in the activity?
• Did your venture make a profit in at least three of the last five tax years, including the current year?

If you answered yes to most of these questions, you probably have a business. Congratulations, that means you can claim expenses on your taxes that a hobbyist can’t. You see the losses from a hobby can’t be used to “offset other income.”

The big difference is that there are numerous tax deductions for new business owners. Many sellers deduct costs of transportation they use when shipping an item or the costs of their home as a business. The point is, if you don’t have a business you won’t get all the advantages of a business.

Don’t over pay when you could be getting small business deductions. If you are a business, keep records like a business and enjoy the benefits of bigger tax refunds. The extra money your get back could make all the difference.

For more information visit:

1. IRS Clarifications about online selling:

2.An Ebay Workshop on the differences:

There are certain trails that should not be abandoned, certain wild things that should not be approached, and there are lots of dangerous cliffs just waiting for someone to fall off of them. The point I’m trying to make is that just as you need to use caution when venturing out in unfamiliar places, you need to use caution when venturing out into unfamiliar business. The only way to know what ominous adventures are looming around the corner is to pay attention to the signs around you. For example…

Don’t Feed The Animals

Don’t give reasons for things to come out and bite you. This includes other businesses, coworkers, employees, whomever. Also, don’t do anything unethical or shady that’s going to come back and bite you in the future. There are signs all over the zoo saying don’t feed the animals. Still, people continue to think they are the exception to the rule. Trust me, you are not the exception.

Watch For Falling Rocks

Okay, this sign is a given but would you believe there are actually people who attempt to climb cliffs with falling rock warnings? Again, I suppose these people must think someone got board one day and decided to put up a random sign. No way! The truth is that someone must have gotten into some trouble on that cliff and so they put up a sign warning others who come down the same path.

Big surprise, there are watch out for falling rock signs in business too and many people ignore those too. How do they ignore them? It’s very simple, they don’t do their research and then they get wiped out by the same “falling rocks” that took out businesses before them.

Dangerous Cliffs, Do Not Cross

Okay, yet another obvious one…seriously…who wants to fall off a cliff? Would you believe there are people who really do want to fall off cliffs and I don’t mean cliff jumping. There are people who actually go past signs on the path that say “WARNING Dangerous Cliffs Ahead”. By passing this sign you put yourself at risk of falling and losing your business.

So, how do you avoid such peril? The answer is simple, watch the signs, do your research and thus avoid the pitfalls that have taken down other businesses.