Dissolving A Brand By Accident

What happens when a brand is built on an individual’s shoulders who is now ready to retire?

The situation above happens over and over again, so frequently, in fact, it would appear normal to most people. When a person who owns a small business is ready to retire, the business retires with the person. Wait…what? This is the thinking of an individual who allowed the brand of their company to be built around them. When people thought of the company, they thought of that individual. When customers needed a particular product or service, they went to the individual that would not only sell that product or service to them, they themselves would work to provide that product or service. In other words, the individual described never was able to step out of their business and begin working on their business. Rather, they became stuck working in the business.

While this situation happens to small businesses quite often, yet recently it happened to a large, worldwide brand who made the same mistake twenty-five years ago. The mistake was in the name of the now famous news show.

CNN’s Larry King Live

Just last week, Larry King announced on his nightly broadcast that he would be retiring from his show, Larry King Live, after twenty-five years of service. Makes good sense on the surface, but let’s look deeper. For the past quarter century, Larry King has branded himself as a nightly news anchor bringing top stories to viewers around the world. The only problem is, Larry King was the brand. If he was not on the show, the show was not the same. The fact that the show was named after himself should have been cause for concern. What happens to the Larry King Live show when there is no more Larry King? It just does not work.

Just as a small business gets stuck branding itself through the individual, CNN now has a show that will end completely, simply because Larry King chooses to retire. Had the show been named something else, Larry could have passed the baton on to the next host, and the show’s brand would continue. Instead, the branded Larry King Live is being dissolved to a memory.

A Brand’s Perceived Value

Part of what makes a brand valuable is it’s popularity within its target market. When it is a widely known and accepted brand, it has a stronger perceived value. A small business can have a strong perceived brand simply because clients and customers know the owner and trust the owner, the individual. However, if the owner were to step back, and allow a system in place of themselves, would the trust still be there? It would if the brand was built that way from the beginning.

Larry King Live can be thought of as a small business. Larry King would be the owner of this small venture. He is widely known and trusted, therefore his company Larry King Live has a strong perceived brand. Fast forward to the announcement that he will go off the air, what happens to the company? Most likely, just like any other small business, it will dissolve.

Who Will Take King’s Place?

The first question after the announcement from CNN was the race to who will replace Larry King. With the show being built around himself, no one can really replace Larry King. Rather, they will replace the time-slot with a new show.

Larry King’s Brand Value

As an individual, Larry King has a strong brand value and well respected reputation. While he himself may not lose brand value, his television show most certainly will. This may not be a bad thing. CNN may be ready to bring a different news anchor into the news landscape. However, should they position the new role in the same way they did Larry King, the same situation will happen again.

The Difference Between An Weak Brand and a Strong Brand

There is a distinct difference between a weak brand and a strong brand. Weak being defined as relying on an individual or individuals branding themselves as the company. Strong being defined as a brand that has an individual or individuals who represent and promote the ideas, but is not dependent on those individuals for the system to work. In other words, the chairman of the company represents and promotes the company, however, the chairman could decide to take a two-month vacation. During that time, the company will continue to grow and prosper due to the system in place.

Larry King Live is a weak brand in that, there is only one Larry King. When he himself retires, the show retires as well.

Apple is a strong brand. Steve Jobs promotes and represents Apple, yet when Steve was on leave, Apple was not on hold. Apple continued to be profitable, continued to grow, and continued to position itself within the marketplace. What would have happened if, when, Steve Jobs announced a leave of absence, Apple also shut down?

Are You Creating A Brand Dependent On You? Have You, In Fact, Become the Brand?

Hopefully, this post has opened your eyes to the difference between brands built on the shoulders of individuals and those that are molded by individuals, yet have a persona of their own. Stop and think about what you are creating. Are you nurturing and incubating an idea, a concept that can stand on its own? After all, a company has a persona that people will connect with. It may have similar characteristics to yours, as you are it’s creator, but it should be able to stand and be an individual.

What are your thoughts?