The Tribune

By D’Arcy Rahming

In 2010 I went to Singapore to the first ever Youth Olympics. I was honoured to be a part of the Bahamas team and to coach my daughter to a fifth place finish in Judo. It was one of the greatest experiences of my life. We were determined to win while we were there. My daughter trained 20 hours per week during the school year, and 40 hours per week each summer.

She did this for 18 months in a row. We were in Singapore for about three weeks and enjoyed every minute of it. This was not only due to the competition but also to the show the Olympic people put on to expand their brand. Strong friendships developed between the Bahamians who were away from home, and respect developed even between opponents.

Businesses can learn a lot from the Olympic brand. One of these lessons is how the brand is built by tying stories to values. Excellence, respect and friendship...., these are the Olympic values. When we hear of the Olympics we definitely get the excellence part. We have a good idea of how tough it is to be an Olympian, how much dedication it takes. And it is not only because of the statistics or the excitement of the events. Sure, we know that records are broken. But while few people know how fast the Jamaican Bob Sled team made it down the course, they all know of the Jamaican Bob Sled team.

We know of the excellence because of the stories. Stories are what make up the Olympic brand. When we hear of what it takes to get there, we are inspired. We are often curious about what someone did to get to the Olympics. The Olympic values are shared in stories. The harder the journey, the more intriguing the story. No one really wants to hear about perfection. They want to know about the struggle. Then they want to root for you to win.

So, what does this have to do with your business? Everything! Don’t be afraid to tell the stories that built your business. And when you tell the stories, tie them to the values of your business. The reason why you do what you do makes people come back and humanises your product. Make sure that your business has values, and that every employee and customer is aware of what your values are. Then be sure to stick to these values. No matter what your business is, when you personalise it, it ceases to be just a business.

NB: D’Arcy Rahming holds an MBA from the Kellogg School of Management at Northwestern University. A lecturer at the College of the Bahamas, Mr Rahming has clients in general insurance, retail, the health and medical fields, sports federations and financial services. To receive his marketing newsletter FREE go to http://darcyrahming.com