Takeaway #144 Murs + 9th Wonder inspire lessons in Goodwill and pricing power

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You must give respect to get respected

Treat others how you wish to be treated

You give what you get and the cycle is completed ***

 Murs & 9th Wonder     Pusshhhhh

Takeaway 144:  Golden Rule is obvious, but the fact that it is a cyclical environment that allows for recycling of goodwill is lost.  It is not zero-sum gain.  Remember it is not always an exchange for an exchange.  Goodwill builds overtime.  It becomes more valuable the more you do it.  It takes time because good will builds your reputation.  Your reputation builds your brand.  Your brand is the product that allows you to be valued at a premium.  Give to get.

Takeaway #15: Walking the Talk

       “Cause we are strictly business and we also got our pride

And if you don’t like it, I suggest you break wide

Suckers steady looking for the m-o-n-e-y and

Thinking that illegal is the best way, so they dying

I ain’t got time to see a fiend fiend out

To give up all his money, and he giving what he got

That’s the way I am, MC Breed cannot be different

Never change my ways for the world or the government

 MC Breed & DFC  Ain’t No Future In Yo’ Frontin’ (1995)

Over a decade before we heralded the return of the Motor-City (and its  how-we-do culture), Breed and DFC put Michigan on the Hip-Hop map, but also provided touchstones for walking-the-talk.  You have to be able to walk away from a deal and keep your “pride.”  This ability is critical to make sure that you stay on mission statement and within the organization’s core competency.  You have to let people “break wide if they do not fit in your game plan.  It is synonymous with the old maxim that you have to stand for something or else you will fall for anything.

 Recognize, however, that you cannot change your fundamental DNA as an organization.  You can expand and recast your brand, but you cannot completely change the essence.  If you are a car maker, you will always be a car maker.  You may change the style or the type of cars you make.  You may target different demographics but you will still do that fundamental thing.  You can be a friendly manager or a difficult manager, but you are the manager, don’t become the customer – just satisfy the customer’s needs, by walking-the-talk.

 BPM TAKEAWAY#15:

  • DON’T BE AFRAID TO WALK ON THE DEAL

  • DON’T DILUTE THE BRAND

Takeaway #99 the yin + yang of brand via BunB

 …Now I tried to compromise, see the other side of the story

But that’s easier said that done, when it comes to your pride & your glory

I’m a pimp with a glide in my worries . . .

But my armor’s on at all times, cause I gots me a rep to protect

Now I mights be known for this, and maybe recognized for that

But they be high-beaming me; and I be like where my visors at?

Bun B of U.G.K.  ♦  Pimp Life

Takeaway 99:  The power of reputation and brand is amazing.  It is what protects you and at the same time it is the spotlight that you shine and the competition can reflect with a mirror right back at you to blind you. 

Attack on brand equity is ultimately an attack on real cash flows

      They tried to tell me that aliens built the pyramids

For every inch they cut the nose off the Sphinx

I make my jeweler add a few more links

 Kanye West    Chain Heavy

 Takeaway #162:  An assault on your mission statement is an assault on your brand equity.  If you permit the competition to chip away at the core strategy and consumer recognized asset you are effectively allowing them to depreciate your asset without your gaining any of the tax advantages of the competition imposed amortization.  It turns into a goodwill write-off, not a non-cash addition back to your EBITDA multiple.  Accordingly, you will have to find a new way to add to the value and beef up the real cash flows.  Add back the links…