On August 9, 2009 the reality television show Shark Tank premiered on ABC. The premise of the show is fairly simple: entrepreneurs pitch their business ideas to the “sharks” in hopes of securing an investment. Lori Greiner, Kevin O’Leary, Robert Herjavek, Mark Cuban, Daymond John, and Barbara Corcoran serve as the primary sharks, with occasional guest investors sprinkled throughout.
“Effective philanthropy requires time and creativity – the same kind of focus and skills that building a business requires.” ~ Bill Gates
Philanthropy is defined, among other things, as “the desire to improve the welfare of others.” Seems like a simple concept, doesn’t it? Unfortunately, many businesses don’t participate in philanthropic endeavors. Not only does this not improve the community in which that business operates, it also helps the business itself.
The Super Bowl is an annual event that is known for its advertising as much as its football. Million dollar companies like Frito-Lay (the producer of Doritos), Coca-Cola, Mars (famous for the M&M), and Ford spend 364 days preparing to unleash their creative genius on consumers during the big game. A total of $377 million was spent on advertising during Super Bowl 50, which took place a few short days ago. The average cost of a 30-second commercial was $4.8 million, which equates to approximately $160,000 per second.
The ability to connect with customers is one of the most important measures of a company’s success. Once you’ve established your company and developed your product, you need to reach out to the masses. Finding quantifiable ways to market your product is imperative if you want to become a formidable player in the industry. Knowing that goal and understanding how to achieve it, however, are often too very different things.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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