As the New Year begins, businesses have the opportunity to reassess themselves, to look back and reminisce on the positive, critique the negative and emerge as a company that is a year older and, ideally, a year wiser. The New Year means new beginnings and an opportunity to rebrand in order to capitalize upon success. Or it could possibly mean expansion into new markets to seek new opportunities. Ultimately, it’s a chance to set new goals and establish a strategy to achieve them.
Self-reflection is critical for future success, so consider your brand as objectively as possible. Don’t get so caught up in your own personal work and idealization of brand image that you neglect to have an objective outside view. You may find that the ideology that you wish to convey to clients, coworkers and potential partners is not perceived in the manner that you envision. Don’t be afraid to take risks, but be sure that they are controlled and focused. Consider Huntington Beach-based action sports apparel manufacturer Quiksilver Inc.
The company recently released a statement that they will be spending funds “over the next three to five years [on] the acquisition, repositioning, development, and operation of active lifestyle hotels and resorts throughout the world’s most popular travel and leisure destinations.” As a brand, Quiksilver is established throughout the action sports world as an iconic manufacturer of quality apparel. Their brand has run parallel with top action sports competitions throughout the globe, in destinations noted as being exotic playgrounds for thrill seekers.
Last year, Quiksilver tested the market by opening Quiksilver Holiday Rental Apartments in Byron Bay, Australia. Although these apartments were initially referred to as being a “one-off” project by a company spokesperson, it would appear that Quiksilver received enough positive feedback from the project to feel comfortable breaking into an industry dominated by hospitality juggernauts like Marriott, Hilton, Hyatt and InterContinental – and they should feel comfortable doing so. They have the coolness and the network to create a division that excels where chains fail. They have the ability to bring back a personal sensation to travel destinations that embody the “surf-inspired” ideology they were founded upon.
Use this move as an example as you forge new paths this year. It takes courage to move into new markets, but if the move reflects the vision of your great result, then it may be worth making.
Click here for more info on the Quiksilver expansion and have a happy New Year!