Business, Education, inspiration

Why I turned down a £30,000 a year contract for my brand

Branding and reputation is an important thing. We tell this daily to our clients. If someone wants to buy your company, they not only want your brand, but also the reputation, the kudos and the clients that you have. I think your brand/reputation is the single most important thing your company has. Because of this, the moment you do something which can affect your brand in a negative way, is the moment people stop working with you.

My suppliers and clients have a direct link with me, they’re an extension of my business and because of this I have to careful of who we work with. If a company is producing something at a low quality, but are able to make me a large amount of money, then I would rather not make the money and protect my brand.

Let’s take a recent example.

With a recommendation from a friend, we got introduced to a company (For the sake of this blog) called “Company  X”, they wanted to work with us to market a product to sell to photographers, which was of a very low standard, wouldn’t help customers at all and most importantly, they wanted to use my contacts and client base and offer us a substantial cut of this in return.

For ease of numbers, this would have been around £30,000 in the first year.

Now this is when you have to decide if allowing something to be sold with a direct link to your business and brand is worth that amount of money. To me my brand is one of the most important things I have, we’ve worked incredibly hard at Strafe Creative to build up the fantastic reputation we have, so £30,000 doesn’t come close to this.

So the question I’m asking you is; Do you consider your brand and reputation to be priceless? If not, then maybe that’s why customers aren’t banging down the doors to work with you.

Would you rather work with someone well known and respected, or someone who will do anything for some quick cash?………..Exactly.

Got anything similar? Hit me up in the comments section is you have any similar stories!

 

By Ross Davies

 

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