What Can Young Entrepreneurs Learn From Apple And BP?

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Apple and BP, two massive companies, operating on a global scale in their respective markets. On the face of it, there’s no real connection between the two other than they’re huge corporations making a lot of money. However, dive deeper into their history, and you find one common theme; branding.

Yes, both these companies have made headlines in the past regarding their brand image. The only difference is that Apple represents a fantastic example of a brand image recovery, while BP shows what happens when a branding disaster hits. Apple went from a company with very low share prices, and hardly any brand recognition, to a massive business that is at the head of the technology game. On the other hand, BP went from a widely known and respected business to one embroiled in controversy, and a negative image was born.

The question is, what can we learn from these two titans?

It’s Never Too Late To Revive A Dying Brand

In the late 80’s Apple were a dying business. Now, they’re one of the most recognizable brands in the entire world. How did they do this? By completely reinventing their brand. You can learn from this, and realize that it’s never too late to revive a dying brand. As it mentions here, a dying brand needs the help of a branding agency, so that can be your first step. Then, it’s a question of reviewing your business and possibly changing your approach to products, etc. Apple did this too, they changed what was being offered, completely redesigned products, and made them more sleek and cool. This aligned with the new brand image that Apple was a high-end company with high-end products.

Be Conscious Of Your Actions

You don’t have to cast your mind too far back to remember the downfall of BP. They had a massive problem when they created an oil spill at one of their drilling posts, killing loads of wildlife. Their share prices have never truly recovered from this moment. What you can learn from this is that you must be conscious of the actions your business takes. If you get exposed for doing something that damages the environment or is unethical, then it could be curtains for your brand image. BP is still operational and making money, but that’s only because they’re a huge business. For a small startup business like yours, a brand disaster could be the end.

Things Can Change In An Instant

Both these brands are proof that your business can change in an instant. All it could take is the release of a new product along with a new brand image, like in the case of Apple. Or, one scandal can ruin your brand overnight – BP aren’t the only example of this, there are loads of others here. Always be on your toes, and realize that, when you’re down, you can still turn things around quickly. But, equally, you can always go down if you’re on the up.

Hopefully, this piece has helped you think about branding and your business in more detail. I think it’s good to call on real-world examples so you can see how easily things can change in business.

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