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Discovering Your Signature Brand for Iconic Advantage with guest expert Soon Yu
Soon Yu, Author, Consultant, Speaker, Professor
Soon Yu talks with Bill Ringle on My Quest for the Best about his new book, Iconic Advantage, and what it means to develop a signature brand.
>>> Visit MyQuestforTheBest.com for complete show notes and more expert advice and inspiring stories to propel your small business growth. My Quest for the Best is a top-rated small business podcast with over 300 episodes of thought-provoking and insightful interviews with today’s top thought leaders and business experts. Host Bill Ringle’s mission with this show is to provide the strategies, insights, and resources that will unlock the growth potential of your business through these powerful conversations.
Interview Insights
Key points that you’ll learn from this interview:
Why the ability to collaborate is such an essential skill for entrepreneurs.
How Yu helped a small company simplify their strategy so they could break into a competitive American market.
The benefits of looking for the highest point of entry in marketing.
The question he asks Fortune 500 companies to help them focus.
The special approach that longstanding successful companies have.
Read the Show Notes from this Episode
1:25 Yu tells about his early experience starting an Asian Funk Band.
2:08 “Even when met with odds that seem insurmountable, it didn’t stop us, we went out and created an Asian Funk Band.”
2:30 “I leaned on a lot of other folks and some of their skills and some of their ideas were basically how to figure out and make a shared vision work.”
3:25 [On his mother as his role model] - My mom decided to do everything she could to contribute to our ability to move to a new country and to acclimate.”
4:16 Yu tells about his move from Taiwan at 3 years old to Berkley, California.
4:39 [On his ideal client] - “Folks who are very interested in learning and have a high degree of curiosity, who know they have a lot of unique skills, capabilities, and experiences, but also are sort of seeking leveraged guidance.”
5:50 Yu tells about his recent work with a company who had a very interesting product and an even more interesting challenge - “Their key challenge was that they had a very distinctive product proposition, and a wonderful story because the products were all made based on empathy…their challenge was how do they come into a mature market and be the eighth competitor in that market?”
8:09 Yu explains the ins and outs of breaking into a complicated market by not going for the lowest hanging fruit.
8:39 “We help them focus on this idea of instead of going really broad, going really narrow.”
10:06 “Do you know which of your brands or your product franchises are delivering most of your profit? And of those, do you know which of them are truly iconic?”
11:47 “Take your cash cow, milk them, and butter them up.”
12:37 [On his inspiration for writing Iconic Advantage] - “I always veer towards wanting to do new things – new product lines, new initiatives, new technology…but what I learned over those 30 years was that I had a hard time commercializing new ideas.”
13:58 [On the approach that longstanding successful companies have] - “They took a lot of their shiny new ideas and applied it to franchises that had momentum.”
14:46 Yu explains that most companies don't know what makes them iconic.
15:19 [Why it’s critical to keep people in love with your brand] - “Just like consumers fall in love with people, they also fall in love with brands. And just like people, when you fall in love with somebody, you don’t want to fall out of love with them. And if somebody’s in love with you, you’re not going to do things to hurt that relationship.”
15:35 “It’s critical for those of us who are caretakers of brands to take care of that relationship as a love relationship.”
15:59 Basics of the Iconic Brand Pyramid
17:18 “That’s where it starts off - What do you care about?”
View all episodes
By Bill Ringle
4.9
148148 ratings
Soon Yu, Author, Consultant, Speaker, Professor
Soon Yu talks with Bill Ringle on My Quest for the Best about his new book, Iconic Advantage, and what it means to develop a signature brand.
>>> Visit MyQuestforTheBest.com for complete show notes and more expert advice and inspiring stories to propel your small business growth. My Quest for the Best is a top-rated small business podcast with over 300 episodes of thought-provoking and insightful interviews with today’s top thought leaders and business experts. Host Bill Ringle’s mission with this show is to provide the strategies, insights, and resources that will unlock the growth potential of your business through these powerful conversations.
Interview Insights
Key points that you’ll learn from this interview:
Why the ability to collaborate is such an essential skill for entrepreneurs.
How Yu helped a small company simplify their strategy so they could break into a competitive American market.
The benefits of looking for the highest point of entry in marketing.
The question he asks Fortune 500 companies to help them focus.
The special approach that longstanding successful companies have.
Read the Show Notes from this Episode
1:25 Yu tells about his early experience starting an Asian Funk Band.
2:08 “Even when met with odds that seem insurmountable, it didn’t stop us, we went out and created an Asian Funk Band.”
2:30 “I leaned on a lot of other folks and some of their skills and some of their ideas were basically how to figure out and make a shared vision work.”
3:25 [On his mother as his role model] - My mom decided to do everything she could to contribute to our ability to move to a new country and to acclimate.”
4:16 Yu tells about his move from Taiwan at 3 years old to Berkley, California.
4:39 [On his ideal client] - “Folks who are very interested in learning and have a high degree of curiosity, who know they have a lot of unique skills, capabilities, and experiences, but also are sort of seeking leveraged guidance.”
5:50 Yu tells about his recent work with a company who had a very interesting product and an even more interesting challenge - “Their key challenge was that they had a very distinctive product proposition, and a wonderful story because the products were all made based on empathy…their challenge was how do they come into a mature market and be the eighth competitor in that market?”
8:09 Yu explains the ins and outs of breaking into a complicated market by not going for the lowest hanging fruit.
8:39 “We help them focus on this idea of instead of going really broad, going really narrow.”
10:06 “Do you know which of your brands or your product franchises are delivering most of your profit? And of those, do you know which of them are truly iconic?”
11:47 “Take your cash cow, milk them, and butter them up.”
12:37 [On his inspiration for writing Iconic Advantage] - “I always veer towards wanting to do new things – new product lines, new initiatives, new technology…but what I learned over those 30 years was that I had a hard time commercializing new ideas.”
13:58 [On the approach that longstanding successful companies have] - “They took a lot of their shiny new ideas and applied it to franchises that had momentum.”
14:46 Yu explains that most companies don't know what makes them iconic.
15:19 [Why it’s critical to keep people in love with your brand] - “Just like consumers fall in love with people, they also fall in love with brands. And just like people, when you fall in love with somebody, you don’t want to fall out of love with them. And if somebody’s in love with you, you’re not going to do things to hurt that relationship.”
15:35 “It’s critical for those of us who are caretakers of brands to take care of that relationship as a love relationship.”
15:59 Basics of the Iconic Brand Pyramid
17:18 “That’s where it starts off - What do you care about?”