Make your product easier to buy than your competition, or you will find your customers buying from them, not you.
Mark CubanRead
Of all the things that your company owns, brands are far and away the most important and the toughest. Founders die. Factories burn down. Machinery wears out. Inventories get depleted. Technology becomes obsolete. Brand loyalty is the only sound foundation on which business leaders can build enduring, profitable growth.
Interpretation
What this quote means
Brands are the most vital and resilient assets of a company, crucial for long-term success.
In this quote, Jim Mullen emphasizes the critical importance of brand loyalty as a foundational element for sustainable business growth. While physical assets like factories and technology can become obsolete or fail, a strong brand can endure challenges and foster customer loyalty, making it an invaluable asset for any company aiming for long-term profitability and stability.
Themes
BrandLoyaltyBusinessGrowthImportance
In practice
Example use cases
In a business presentation discussing brand strategy.
Similar quotes
The idea that you can create a template that will work forever doesn't happen in any business. There's some really, really bright people in this business. You can't do the same thing the same way and be successful for a long period of time.
Billy BeaneRead
In business, if you realize you've made a bad decision, you change it.
Richard BransonRead
Almost all decisions based on cost accounting are utterly wrong.
Eliyahu GoldrattRead
Investment banking is not a business; it is a personal service where bankers work hand in hand with their clients. And it is a service that must not simply be about making bigger and bigger deals that reap rewards for only a small group of executives.
Felix RohatynRead
Quit being 'busy' and start actively owning and operating your company, and you'll be able to understand where the money is coming from and how to make more of it.
Michael GerberRead