When To Rebrand, Refurbish and Re-equip Your Business
Sometimes it’s important to give your business a rehaul. There may come a point when old business ideas no longer work. Bringing in new ideas could be essential for the future success of your business, even if it does mean having to adjust to change.
There are three big ways to refresh a business: rebrand, refurbish and re-equip. Just when is the right time to undertake each change? This post explains.
When to rebrand…
Rebranding is recommended once your messaging becomes outdated or no longer supports your values and goals. Experts recommend that companies rebrand themselves every 7 to 10 years to keep their brand current.
An obvious time to reband could be if your logo now looks ugly or if your company name or slogan is now offensive. For example, the Cleveland Indians changing their name to the Cleveland Guardians was the result of the previous name now being no longer politically correct.
However, this may not be the only time you want to rebrand. Perhaps you want to bring in new products, target new customers or support new causes. Your current brand may not embrace these changes, which could make a rebrand worthwhile. For example, if you’re a coffee bar that wants to branch out and also become an ice cream store, but your branding is focused solely around coffee, it could be time to rebrand.
There are marketing companies that can help you with the rebranding process, including refreshing your logo and redesigning your website if necessary. Consider investing in the help of these companies.
When to refurbish…
Refurbishing a workplace is often necessary once the decor starts to look old or worn. Tired decor could suggest to customers that your company is outdated and could demotivate staff. Fresh decor is meanwhile likely to re-motivate employees and convince customers you’re a company with fresh ideas.
Refurbishing your workplace could also be worthwhile if the space is no longer practical. If people are getting in each other’s way or communication is getting difficult, it could be time to rethink the layout.
When refurbishing, it could be worth hiring commercial interior designers to help. There are companies that specialize in certain types of commercial interiors such as medical clinic design. Choose these companies to get the best results.
When to re-equip…
A good time to replace your equipment is when it is no longer efficient for your needs. Equipment will generally become slow to use or faulty over time. Equipment like office computers should typically be replaced every 5 years, while software should be replaced once it begins to lose support.
With general machinery, you may want to consider replacement once you start having to regularly spend money on repairs. Poor energy efficiency could also be a driving factor in wanting to replace machinery.
There may also come a point when you feel you’ve outgrown your equipment. If your manufacturing company is growing, you may reach a point when you’re operating at the limits of what your machinery can produce – bigger and faster machinery may become necessary to keep up with orders.
Always do your research before buying new equipment or migrating to new software. There are consultancy services that may be able to advise you one the best solutions for your business.