[Music] You  [Music]  All right with no further ado please hit this isn't real for Mr. Berg! Give him a  round of applause as well he's been  called the man behind the brand's the  chief brand accelerator and the six  billion dollar man . Burne Coleman is one of the world's  leading experts in brand development  management licensing and business  acceleration trusted by iconic moguls  and CEOs such as Donna Karan Daymond, John Russell Simmons, Eddie Lampert Kevin, Harrington and Tommy Hilfiger having  created collections for the Rolling Stones, Steven Tyler and American Idol. Mr. Ulman is the go-to man to skyrocket  business growth and shatter yearly  projections his astonishing achievements  include launching the Adam Levine and  Nicki Minaj brands for Sears Holdings earning over 200 million in annual sales as president of fast fashions he  propelled retail sales from 80 million  to 800 million as CEO of mesh he  developed a Jennifer Lopez and Marc Anthony collections for 1,100 Kohl's stores the largest celebrity brand deal  in history worth 3.5 billion and as  president of booboo international he  drove yearly revenue from 100 million to  four hundred million dollars. I want to  acknowledge my buddy here burnt almond who was my company from 100 million to 4  the man in the genius this guy foul out  as the CEO and co-founder of celebrity  lifestyle brands Mr. Ulman employs  digital marketing and social media to  incite massive well through the power of  brand equity. Berndt is also passionate about helping  entrepreneurs utilize the same tactics  that have launched a billion dollar  businesses his mentorship quickly  uncovers the story and strategy behind a  brand to transform followers into  devoted ambassadors proficient marketing  lucrative licensing and distribution  savvy product development. No one understands how to grow compelling and  authentic lifestyle brands better than burnt almond and now mr. Ulman is ready  to share his wealth creation blueprints  with you so you can supercharge your  business build an empire and leave a  legacy a customer they may forget what  you say they may even forget what you do  they will never forget how you make him  feel ladies and gentlemen please welcome  the chief Business Accelerator himself  burnt almond  [Music]  All right thank you good morning good  morning thank you Nate, Thank You  Franklin, Thank You Cory Bergeron. Okay guys so  before we get into it, hey you know what  makes our fulfillment company unique? The  fact that I've been in your shoes  looking for an excellent fulfillment  center. That's right I had a successful  online business when my company started  to grow I went searching for a  fulfillment center that could meet my  high but very fair expectations you know  what I found? That that was very very  hard to find all I wanted was a  fulfillment center that could ship the  right product to the right address at  the right time at the right price should  be easy right  it wasn't I couldn't buy what I needed  so I built it  fulfillment com not just for me but for  thousands of other businesses just like  yours hey we can't help you if we don't  talk to you so we're not going to take  too much your time just a short call to  gather some information so that we can  delight you that's right its fulfillment dot coms goal to delight all of our clients. Book a call today with Fulfillment dot com because we get ship done  [Music]  They already pick up on the fact that I  speak with an accent so I'm gonna try to  take it slow so you can follow and even  though I work in New York City my accent  is not from Brooklyn. I am actually from  Norway and I know what you're thinking  I'm supposed to be tall and blond but  that didn't really happen for me. However  as you all know as entrepreneurs, it can  be tough and when I started out early on  before my journey in entrepreneurship  I was actually six foot five blond with  blue eyes and I have a picture to prove  it so this is before and here you have  the result after. Okay let's get into it  what's a brand right? So a brand is named  the sign a symbol anything that  distinguishes a product from the rivals  in the eyes of the consumer that's a  brand, okay? Why does it matter? Because  what we're going to talk about today is  of course the seven steps of brand  building which ultimately leaves leads  to wealth creation the creation so  what's the power what's the difference  so here it says what makes a consumer  willing to pay more for the same item  it's a basic white t-shirt right and in  the example on the bottom it's the  haints 3-pack the Hanes 3-pack you can  buy for $8.50. Nautica it's a brand a little more  elevated they have a basic white tee for  1950 Ralph Lauren higher level bren 3 or  3950 up to 55 and lastly John Varvatos  at the sign a t-shirt yes $98 to $148 dollars basic white tee. So what makes people willing to pay more for in  essence the same product? Well  it's brand equity. Brand equity is the  value of your brand in the mind of the  consumer and that is a folks is how you make them feel about your brand. when we now start on the seven steps: why? why did I create the 7 steps ? what's the  value in having a brand and brand equity? well if you don't have anything that  sets your product or your services apart  from the competition, what are you left  to compete on? That's right price. Your only left to compete on price and if all  you have to compete on this price you  will find yourself in what I like to say or call a death spiral race to the  bottom because there's always someone  out there that's willing to work on a  lower price or lower margin. So that's  why we brand. step one : one this one mission one brand so first start with a  mission statement. it's the company's core purpose it's what we do it is what  problem do we solve you focus on what's  important it identify core markets and  communicate corporate direction to all  stakeholders and here's a good example. Google to organize the world's  information and make it universally  accessible and useful clear mission  everyone can rally around that now let's  go to division so the vision is your  aspirational description of your  objectives it's what you're aspired to  do it's to what end  why and of course if your why is to  become filthy rich quick that's good and  your mom might like it but you are often  and I always find you're better off when  you're providing a service or a value  for others here's a good example Ford to  become the world's leading consumer  company for automotive products and  services make sure though that you make  the vision statement realistic because  vision without execution as you all know  is hallucination. So we were talking about the Harley  earlier, well that's another great brand  and what are the most important aspects  of great brands they have to be  authentic credible and aspirational. Here  are a couple of very successful brands I  bring them up primarily because as we  are all here as entrepreneurs I want to  remind you these are some of the most  successful brands of our times  so Nike for instance it was founded by a  college athletes and his coach that  college athlete was Phil Knights it was  back in 1964 they had an idea for an  athletic brand their market cap today is  somewhere between 120 - 130 billion dollars depending on what day you check  with the market turbulence. McDonald's Ray Kroc he was a milkshake mixer salesman but one day he got an order for multiple mixers to one  location he thought that was odd anyone  to check it out as they say the rest is  history  and McDonald's has a market cap of 130  billion dollars, if we go to the tech  space Apple , Steve Jobs have they've  topped a trillion and of course Jeff Bezos and Amazon they're hovering  somewhere between eight hundred and  seventy five and again to eight hundred  seventy five billion to one trillion  dollar market cap so the point is these  were individuals these were  entrepreneurs no different than any of  you in the room they had an idea they  had a vision and this is the end result  so if you can dream it you can achieve  it. Step 2: Concentration dominates. You have to  analyze strengths and weaknesses of your  business people. Don't plan to fail, they fail to plan and hope is never a strategy. You have to do  your planning so the SWOT analysis is  start by looking at your strengths. what  is your unfair competitive advantage? Maybe it is your brand. Maybe it's an algorithm maybe it's unique product you should identify it to  optimize your business weaknesses. Well  for instance if you are selling apparel  online the return rate typically hovers  somewhere between 30 to 35 percent; in the brick and mortar, return rates are somewhere around 8%. That would be one  thing to look at, how do you mitigate  that? There are new technology sales  opportunities. Are there opportunities in  new markets new products . what about  voice search and lastly what are some of  the threats again if you're importing  products from China come January if  nothing changes there will be tariffs  slapped on of 25% what will that do to  your business so these are the things  that you have to look at. so we have a  little bit of a system where we said  does your brand pass? So first we look at  product quality.  we anticipate customer needs, we obviously wants to have superior  distribution, we want to optimize the  distribution and lastly strategic  pricing and it comes to strategic  pricing I always like to institute a  treat here to price strategy does not  does no matter what product what level  it can be luxury it can be open end I  always do three tiers good better best. So for instance let me give you an example show of hands how many people  thinks $128 dollars for a pair of jeans  is expensive? Yeah I'm getting hands yes  $128 dollars that's pretty expensive  now I'm gonna assume that I know the  answer to this how many people thinks  498 dollars for a pair of jeans is  expensive  there you go so it is expensive what did  we do when we wanted to sell 128 dollar  coogee jeans all day long we created  coogee Lux and we priced the Coogee Lux  gene at four hundred ninety eight  dollars and then we took every coogee  customer and we walked them past the  Coogee Lux gene and each and every buyer  had to hear that this is the Coogee luck  gene for four hundred and ninety-eight  dollars by the time they got to the  Coogee gene and they were ready to make  a purchase the hundred and twenty eight  dollars sounded outright cheap and we  sold a ton of jeans business jumped out  to over 100 million dollars in less than  one and a half years. Okay brand the feeling so these are the  initial components of building a  compelling brand so brand DNA so the  brand DNA is in essence what makes your  brand unique so you tried to identify  what sets the brand apart what makes it  special what are the aspects I once you  may have seen in the video I was part of  doing the largest celebrity deal ever  done three and a half billion dollars  for Jennifer Lopez and Marc Anthony  would Kohl's and I once spent two days  locked in Jennifer Lopez's closets it  was quite exciting it was all for the  purposes of identify what was the brand  DNA what was unique about the brand and  what determine what it was supposed to  look like and I have no fair  her closet is larger than the room that  I'm staying in and and it's catered to  24/7. So we look at when we look at brand  DNA we look at product design for D then brand name and lastly the brand assets  DNA first here's an example of what we  do with the design so we might just  mentioned coochy coochy was originally a  sweater a multicolored multicolored  highly patterned sweater here models  died by  Dr. Huxtable so when we now created the  street where Brad we captured dose the  movement we captured a color and this is  what coogee streets were looked like and  as I said it worked and we built a  hundred million brand literally in 18  months. when you're looking at product  name please make it simple make it clear  make it work . I ran Phat fashion's Phat farm and baby phats and once upon a time when Russell Simmons formed the founded Phat farm. Phat  was the coolest thing you could ever be  that you could ever say because Phat  stood for pretty hot and tempting Phats  so this was pretty hot and tempting and  it came from the farm that's where you  grow stuff.However by the time the brand  hit mainstream, by the time you were  ready to go into every single department  store there wasn't a kid out there that  used to term phats so the only thing that  happened was aid the brand now dated or  the name dated the brand and number two  no one used to term anymore and the  reality is too mainstream buyers from  the large national retailers retailers  originally thought we were coming with  some formal weight loss products. Another  example, who in here has heard of Justin  Timberlake? Almost everybody right okay  good. Who in here has heard of william  rests william rests ic0 hence william  rests is Justin Timberlake's clothing  collection. it is what happens when you  over think it's so william r ass it's  the middle name of justin's and his  partner's grandfathers names so it's so  cool that nobody knows the connection  and they're getting none of the benefits  from Justin's very large following and  fame  so keep the name simple and  straightforward. Lastly Brant acid packaging so I always say nothing sells  products  as well as product. However you need more  than just product if it was true that  you only needed the product cereal would  be sitting in the clear plastic bags you  could just see the product but as we all  know that's not true is it  so packages packaging is important and  in the Director consumer space it is  specifically important because you  actually have to sell your product twice. First you're selling it when you make  the emotional connection and they're on  your website or they're interacting with  a brand the first time and they make a  purchase then the product gets shipped  out by now they've had a fight with  their spouse it's raining outside  and the other shitty day at work and  your product arrives and it needs to  sell itself one more time it needs to  look unique it leads to look appealing  so you can rekindle that emotion so  that's packaging emotions they matter  emotions make decision nobody needs some  other products so we're buying because  of the feeling your products creates  have a Coke and a smile or Apple think  difference which was a play on IB ends  think so or Amazon the world's most  consumer centric Brent these are all  emotional statements that you can  connect with so as you heard me say in  the video it says here to your customer  will always remember how you make them  feel I'll take that a little further and  say they may remember what you say they  may even remember what you do they will  never forget how you make them feel okay  master to touch so this is about brand  consistency strong and powerful brand  maintain consistency throughout so for  physical its logo its signage letterhead  and business cards  products shop concept events and  experiences and all of these attributes  says something about you and about your  brand so I brought our celebrity  lifestyle brands business card and this  is what our car does so not so unique  not so special however  it sets us apart it says something about  us and our business you need to of  course maintain brand consistency also  in the digital space your website  ecommerce apps social media and even the  smaller things like the email signature  I just mentioned our company celebrity  lifestyle brands and here you see how we  sign off and the reality is consistency  in brands should permeate everything  that you do and it includes you it  includes your brand ambassadors it it  includes every single consumer  touchpoints alright innovates  communicates so you've all heard if you  build it they will come but I've added  really because the reality is in this  cluttered marketplace if you build it  and you don't tell them about it nobody  will come not one single soul they don't  care there's too much information so and  in this group you're all sophisticated  so you know you need to deploy all of  these resources video viral campaigns  consumer engagements social media blogs  editorial paid and targeted ad campaigns  Facebook everything you can think of  guerilla marketing all of the above  way back when before we had all these  social media I launched my first  business back in the mid eighties and it  was Scandinavia's first home delivery of  pizza so it didn't exist until I  launched my business and I thought I had  corner tomorrow  kids when I got the write up on the  cover of the business section of the  weekend paper and the phone started  ringing as soon as people picked up  their for their papers by early morning  even though we didn't open little tooth until 3:00 by early morning my phone  system had broken down and later in the  afternoon one of the pizza trucks broke  down we ended up delivering soggy cold  pizzas three to four hours after people  called for him it was a disastrous way  to launch a business and if it wasn't  for the fact that the idea was so good  we would have been out of business  before we ever started so you only get  one shot at making a first impression  you might as well make it a good one  this was a terrible launch on to a  couple of really powerful launches this  thing is amazing so this is referred to  as the hangman hangman ad and this is  how the Tommy Hilfiger brand actually  launched this is a billboard from New  York Times Square and as you can see it  says the four great American designers  from n R and then you have the R and L  and everyone knows Ralph Lauren the next  one you may not know that's Perry Ellis  Calvin Klein and then no one knew what  the T&H was so that's how the Tommy  Hilfiger brand launched and it got  instant credibility by approximation the  neighborhood of those other leading  designers led to an affirmation of the  brand now it pissed them all off but  they got over it and the Tommy Hilfiger  brand is today a brand that enjoys seven  and a half billion dollars in annual  sales  another great launch was the launch of  Daymond John's FUBU so as Damon said in  his book the power of broke they had no  money so they had to be really creative  when it came to promoting the brand back  in Hollis Queens where they are  originally from there are metal gates in  front of all of the stores  the FUBU guys offered to clean and paint  all the gates in return for putting  their logo on the gates a lot of the  store opener owners agreed and at nights  this start of brand FUBU would have his  logo on every single storefront all over  Queens but that wasn't the launch Damon  then spoke to his friend LL Cool J. LL  Cool J became a brand ambassador and  then they did two things they went to a  trade show called magic and they had six  salespeople and they told every single  one of those guys to call every single  one of their buyers and invite them all  to come to the booth at nine o'clock in  the morning on the first day of the show  and every single one of those  salespeople said can't do that they  won't work but of course they did and  fear is a phenomenal motivator so every  other buyer that hadn't gotten the call  came in to the trade show and so this  one booth completely mobbed and  surrounded by buyers and they were all  petrified of losing out and that was  part of the launch the second part of  the launch was the gap commercial yes  gap commercial a 30 million dollar gap  commercial and gap reached out to the  FUBU spokesman LL Cool J had asked if he  would appear in a commercial forum they  did not had a headwear on the time and  ll asked could he bring his own hats so  I'm gonna play that commercial for you I  want you to look out for LLS hats and I  think you will be able to see F beyond  the hats and then I want you to listen  to the lyrics because foo BER is an  acronym and it stands for for us by us  so listen for for us buyers on the low  in the middle of a 30 million dollar gap  commercial  yes so as it says the price goes to  innovative I will take it one step  further innovate or die a 30 million  dollar FUBU commercial launched a brand  even though sponsored by the Gap okay  step 6  cover your assets this is important  because as you start building your  business and building your brand you  don't want it to be all for naught  so there are trademarks you used ads for  brands logos slogans etc copyrights for  all the creative work books lyrics and  then patents for innovations processes  this is what can happen if you run afoul  of it so Jennifer decided that she  wanted to launch a fragrance with Cody a  million dollar multi-million dollar  company in the space and they wanted to  call it glow it was glow by j.lo and  they were so set on it that even when  they found out there's a company out  there called glow industries they went  ahead anyway  well glow industry file filed the suits  they blocked the launch of Jennifer and  Cody's fragrance they held him up tied  him up for over a year and glow  industries a tiny company had their  biggest payday when they collected  millions of dollars before Jennifer and  Cody were able to launch don't let that  happen to you ok we're at step 7 pedal  to the metal so we talked about brand  equity quick reminder it's the  intangible asset that gives a branding  for mental value in the mind of the  consumer and it's of course created  through implementing the branding  process now here's a quiz so why show  hence it says which comes with a premium  price thanks to brand equity the wants  to think hits the green box show hands  I see no hand soap here in delights the  grey box show ends I got half ahem  purple box no okay how about the  turquoise box okay I'm getting a lot of  hints that's right so Tiffany the  high-end jewelry company has in essence  made their turquoise color cinnamons  with their brand so it's a powerful  message known by by discerning consumers  everywhere so strong brand equity this  is why we love it  that is a profit faucet do we all want a  profit faucet of course we do we get it  through strong brands so what does a  strong brand and brand equity allow you  premium pricing increase cash flow it  lowers customer acquisition costs and  the asset can be sold or licensed so  that's what's so powerful about brands I  have the utmost or respect for anyone  that builds a business anyone that is in  business is wonderful but if you have no  brand and if you have nothing else as we  talked about you're forced to compete on  price not only that you have to reinvent  your business over and over and over  again and you're just as strong as your  last transaction with a brand not only  do you get to benefit from the business  you build a today you are creating an  assets fad fashions - remember I said I  ran fat farm and baby fat the company  was sold no I take that back the company  wasn't sold the IP the intellectual  property only was sold for a hundred and  forty million dollars to a company  called Kel woods and Kel wood had to put  a hundred and forty millions on their  books as an assets under goodwill that's  the power of building a brand that's  what Russell Simmons did I am NOT  working closely with Bethenny Frankel  one of the original housewives from  Housewives of New York she has created a  brand called skinny girl skinny  cocktail Skinnygirl margarita maybe some  of you heard of it she gave birth to  that brand while on the TV show and a  couple of years later only a couple of  years later she sold the alcoholic  beverage rights only again just the IP  there was no company she just sold the  alcoholic beverage rights to Bheem  Centauri for a hundred million dollars  that's the power of brand and brand  equity now the brand equity can be  enhanced how step one with celebrity  endorsements target the right celebrity  influencer structured optimal deal  leverage their fan base every celebrity  worth their salt has now a massive  social media following top right that's  Gigi Hadid Gigi Hadid  has around 45 million followers on the  Instagram alone she did a partnership  with Tommy Hilfiger they created the  Tommy Gigi collection we heard earlier  Tommy Hilfiger was mentioned that's one  of the format's Tintin for most  influential men's collections or men's  designers was never asked relevant with  women went out and did the deal with  Gigi and overnights  they had instant credibility they blew  the business up now this may sound  complicated but we are here to help have  no affair  so celebrity lifestyle brands our  company we have a booth outside if  anyone is interested in working with  celebrities please see Greg Ryder my  partner or myself outside and we can  help you with that and it does a lot hey  what are other ways you can put this  brand equity on steroids and blow up  your business with licensing two ways  well if you are one of those guys that I  would forced to compete in price get  yourself a license you can license a  strong brand name and all of a sudden as  you could see you can charge a lot more  for your products or your service if you  have built a brand  or if you have a brand well sign  licenses these are brand extension you  grant another company the rights to  manufacture their product but on your  own brand name and they pay you a  royalty of fee so there are product  licenses their territory licenses this  is what you can do if you sell apparel  you can add other items add fragrance  bags shoes for instance when I took over  fat farm and baby fats the company was  actually losing a couple of million  dollars a year  I changed the operating model to 100%  licensed and overnight. literally we went  from losing a couple of millions to  having between 40 and 50 million dollars  in annual royalty revenue licensing. why  do we love it? it's easy it's fast its  cost-effective and its profitable so the  last way to put your brand equity on  steroids simple get yourself a board of  advisers they provide non-binding  strategic advice and they leverage their  rolodex for your benefits as we often  often say your network is your net worth  it's informal it's flexible and it's a  revenue multiplier let me give you one  other example a lot of people have  sought out tommy's Hilfiger's advice  over the years Michael Kors legendary  designer came to Tommy back in early  two-thousands not for advice on how to  grow his business no for how he could  seamlessly actually end it all go out of  business Tommy said not so fast firstly  I think you should do this this and that  to your business which entail focusing  more on eye on accessories secondarily  he leveraged his rolodex he called two  of his former backers Lawrence troll and  Silas chow he got them involved they  deployed the necessary  capital and michael kors have gone from  being on the verge of going out of  business in early 2000 to having a  market cap of nine and a half billion  dollars today so that's the power of  having a good or strong Board of  Advisors so on that note we have gone  through the seven steps and my timer  here in front of me is now blinking red  so I will leave you with just one final  time one final thought hmm I had wanted  actually to add for another thing and  that is just I went through the  licensing part a little quickly I want  to say if any of you are interested in  talking to us about that we can help  with that as well and then on to the  last final thought and the final thought  is really very simple: build a brand, create wealth, leave a legacy. Thank you  [Music]