Entrepreneur Chris Forbes says an important part of being a business owner is to try and earn recognition for your products, services and brand.
I can’t underestimate the value of earning accolades in the world of business. In my October column I want to stress the importance of entering and winning awards.
The Cheeky Panda brand has been winning awards since we started out in 2016. At first, it was all about enjoying success at local level, such as a regional innovation award in Essex which brought with it a cash prize of £2,500.
We were then finalists at the National Business Awards, which recognised the Cheeky Panda as a leading fledging brand. To date, we have won more than 20 awards, including success in the prestigious Sunday Times Fast Track 100.
Every time we win an award we usually enjoy press coverage, both locally and nationally. Another by-product of either being nominated or actually earning accolades is that you get an opportunity to attend these functions.
At these ceremonies, particularly when it comes to big, prestigious events, you will meet other business owners and entrepreneurs. This is great for networking and learning about other people’s journey to business success.
Winning an award also validates your brand in the eyes of your customers and/or clients. Your product has been judged by a team of independent experts which helps to give your customers confidence when deciding whether to purchase an item.
Consumers recognise independent validation more than anything else. And once you have collected an award, you can publicise this success when packaging your products. This has enabled us to use the words ‘Product of the Year‘ on some of our packaging, which can only boost sales.
There are one or two downsides to being part of an awards’ ceremony. For every winner there are always a handful of losers who may not agree with the judges’ decision.
It also takes time, as well as cost money, to enter and attend an awards’ dinner. So you can’t take a blanket approach to entering. You must carefully choose which competitions to focus your attention on.
Before making your choice, check out how much prestige an award enjoys in your sector and with the general public too. Then only enter if winning it is likely to make a significant difference to your brand.
With so much business currently happening online, promoting your brand or one of your products as an award-winner certainly carries plenty of kudos. You won’t win them all but if you don’t enter you can’t win.
Some of our victories:
- Sunday Times Fast Track Ones to watch
- Product of the Year
- Natural Organic best natural product
- Julie Chen Businesswoman of the Year (MSD)
- Essex Business Awards, Chris Forbes, Entrepreneur of the Year.
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