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    The simple business plan: Can you describe your brand in one word?

    By Eric Michaels

    Business strategists always suggest having a great "elevator pitch." In other words, if you were to encounter an influential figure in an elevator or at the theater, could you pitch your business in 30 seconds or less? Now what if you took this concept one step further and were able to boil down your business's essence into a single word? Here's how this simple business exercise can help define your brand and measure the success of your marketing strategy.

    Benefits of brand simplicity

    No matter how complex or esoteric your business is, you gain an advantage by presenting it to customers with a one-word description. Whether it's "innovation," "beauty," or "efficiency," you make it easy on your ...

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