I once went to a conference on luxury. The keynote speaker was the APAC head of Rolls Royce Motor Cars
To begin he shared a beautifully crafted video of manufacturing in a spotless factory, draftsmen and women in shirt sleeves, rolls of nubuck leather being expertly cut, milled and stitched and, with music swelling, the image cut to people clad in white overalls polishing the body of a Phantom Drophead convertible to lustrous perfection. Fade to black and the famous double R logo
When the gentleman next spoke, he said, "We are Rolls Royce. The standard that other luxury goods compare to. Watches, luggage, yachts, all are compared to Rolls Royce."
There was a smattering of applause from the audience (executives from LVMH, Rolex, Hermes, Dior...) He continued that when the current company was incorporated - Rolls Royce Motors, they were sold to new owners who, in exchange for their payment, received no factories and no inventory, only the IP for the generations of cars that made them famous and the right to use the Rolls Royce name. Read that again, only the IP for the generations of cars from their history and the rights to use the Rolls Royce Motors name and logo. And it was an eye watering amount they paid
So what was it that made the Rolls Royce name worth so much? I'll leave you to fill in that particular blank. But let's apply that idea to you, to the organization you are building or work for...
If your company sold their name, what would it be worth?
And when you take it a step further, what are you doing to build your reputation? To hone and refine your abilities? To reinvent and reimagine yourself?
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