Stop Throwing Money At “It”!

money-picI have a person very close to me who likes to throw money at situations and people.  Let’s name them “Pat”.  Over time I’ve noticed money gets thrown around when Pat  is trying to: 1) avoid a negative/painful situation (“I’ll buy the birthday gift, you go hang out with the birthday gal because I don’t want to see her”) or 2) be more loved (“I’ll buy lunch to apologize for making you come meet me where I want to each lunch”).

So in the famous words of the Beatles, if love is all we need and if money is the root of all evil, then what gives with Pat?

While we all tend to stretch for relief and love in our lives by “solving” things with money, what does it really do to your brand?

First, you must have self-awareness to look at the situation in the first place. If you can’t step back and observe yourself throwing money at others, then you can’t start to see anything differently. 

Throwing money at people and situations in order to get yourself in a better position and your brand better loved does NOT work.  Why?

Even if people end up taking your money, we can all sense your desperation in doing so.  It devalues your brand instead. No one wants to support, much less be around, desperate people.  Think about it: when was the last time you bought any product because you pitied the company? Never, I suspect.

Need more examples? Look at Uber.  Uber and Lyft spent over $8 million in a very few short months in Austin.  They were trying to get voters to shoot down Austin’s proposed fingerprinting rules for drivers.  Uber bombarded voters with phone, text, emails and calls.  Some voters were truly scared and creeped out by the level of intrusion.

In the end, Uber and Lyft lost the fight.  And they lost $8 million.  That’s what happens when you throw money at it. No one was more sad over this result than me.  I used to Uber/Lyft all around Austin on my monthly trips.  Now I’m stuck with yucky cabs or the kindness of colleagues and friends.

What about Uber and Lyft’s brand?

Some would say the companies are so big, it really doesn’t impact their brands.  Ok, so maybe there’s no fiscal impact. However, in the court of public opinion it’s different.  In the informal interviews I’ve done with locals in Austin, there’s very little love for Uber or Lyft.  When you mention either brand name, most people I’ve talked to shrug, squint and reply rather nonchalantly.  That’s what you get when you have enough money to throw at people in order to get your way.

So let’s summarize what we learned in first grade: Money does not get you your way. If you do get your way, you have no respect with it.  Your brand stinks.

What does this mean for you? Stop and consider:

  • When have you strong-armed others with money to get your way?
  • Did it work? Why did you really throw money at it?
  • How can you stop and have self-awareness of when you are throwing money at something?

Source: Katy Puris

katypurispersonalbranding-com

I moved to this country with my family in 1979 from Iran. We came with two suitcases thinking we’d stay for two weeks. We stayed a lifetime. I went to law school because I wanted to help humanity AND because I felt that if I was a lawyer, then I would fit in and be accepted and respected. I practiced for 15 years as a successful securities lawyer. One day I realized I was wealthy, miserable and no longer helping humanity. I quit my job as a lawyer within a month. As a spiritually-minded business person, I started to listen to the Universe and my intuition. Through a series of miracles, I ended up finding my natural talents and gifts, which are the ability to realize and evolve peoples’ assets very clearly. During the first two years of my “retirement” as a lawyer, I saw an ad in a community college catalog that read, “What do Oprah, Bill Gates & Warren Buffet Have in Common?” The answer was said to be that they were all practicing their natural talents. So I went to the workshop and learned excitedly and incredulously that my natural talent is in personal brand management for others. From this workshop, my horizons opened and I devised a number of programs highlighting others’ talents and abilities, wrapping it in a “personal brand” package. Initially, I had no idea how these gifts would work in coming together; but for the past seven years I have been running a personal brand management company. We work with individuals and companies to unearth their uniqueness, communicate this to their target audience, and then manage all perceptions. The mission of my company: While appreciating the oneness of humanity, my goal is to highlight for others their specific talents and abilities in order to bring greater joy and success to all areas of their lives. This is how I do my part to cultivate a world of love and kindness where I promise through my example that no one is forgotten and everyone is appreciated. Personal brand management is based on defining and understanding your uniqueness, communicating it effectively to your target market and managing the perception of your personal brand. Your personal brand comes first. It is about you and NOT your business logo or marketing materials or PR. YOU must have a personal brand before you: a) can have marketing material and b) are press worthy. An effective personal brand starts with the understanding of who you are as a business owner and an individual. Without this solid foundation of a sense of self, it is not possible to build an effective personal brand that then translates into effective business branding. Throughout my career and life, I have been blessed with an eye for the creative process around building a successful personal brand. I finally stopped and listened to all the people who kept asking me for help in making their personal brand and business a success. Most of these people were lawyers trying to figure out how to stand out as attorneys in society. I was enlightened by the concept of following my natural talent. I wanted to help other businesses have an effective personal brand and thus, increase revenues, productivity, morale and sales. For fifteen years, I worked as an attorney in multiple areas of corporate America. For over eight years I practiced in Washington DC: the Securities & Exchange Commission, lobbying on Capitol Hill, and working in a law firm. I then moved to California working as in-house corporate counsel and then consulting via my own business. I hold undergraduate degrees in Finance, Accounting and Economics and a law degree. My clientele include numerous law firms , corporations, law schools, specialty institutions, retail corporations, CPA firms, engineering firms, financial services firms, dental professionals, medical professionals, as well as many smaller businesses. I am an author and public speaker on personal branding, leadership, marketing and business development. I have been appointed to serve on the ABAs Law Practice Management (LPM) Division Webzine, Nominating Committee and Women Rainmaker Boards. I have contributed numerous articles to the ABA and been a frequent speaker at various ABA conferences. I believe in being active and giving back to our community as part of your personal brand and mainly because it is good Karma! I am on the national board of directors of The Women Of Color In the Law. I also serve on the San Diego board of directors of National Association of Women Business Owners (NAWBO).

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