Personal Brand Management

1685.jpgFebruary 2008 | By Guillermo de Haro, Professor at IE Business School

We all have our own personal brand, and Personal Brand Management can help us to enhance our image using the same techniques that enable companies to sell themselves better.
Valuing things is always complicated. As someone once said, “only a fool confuses value with price”. In The Undercover Economist, Tim Hartford also gave a masterful explanation of how the utility (and, therefore, the perceived value) is different for each product or service, for each individual and even for each situation, and the price is a key element for making the system work, making it more fluid. That´s why putting a price on something is so complicated. And if we also try to put a price on ourselves, it is even more complicated. If you don´t believe me, ask people how much you are worth.

In Saxon cultures, they have no problem: you are worth as much as you earn. Nowadays, there are certain subtleties. If we ask a BoBo (Bourgeois Bohemian), they give more value to a million dollars that come from a book or a new company than from speculating on the stock exchange, something that would be valued very highly by a yuppie. And if I ask my mother, I would be listed on the stock exchange in less than 24 hours and I would also guarantee its recovery.

In my classes, I always tell my students that we should think of ourselves as another company. This exercise helps them gain a better understanding of things thanks to a new viewpoint that involves us in decision-taking processes. We can calculate our results account, value ourselves as an asset and value our assets, as well as determine our liabilities. And, as such, we can speak of the value of our brand and start thinking how to manage it.

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