The reputation of CEOs or founders and the impact it has on the brands that they represent is increasingly in the spotlight. Internationally there have been quite a few celebrity CEOs/founders that have become synonymous with their brands such as Steve Jobs of Apple, Richard Branson of Virgin, Elon Musk of Tesla and Jeff Bezos of Amazon. However, the story of Indian CEOs and founders has been different. Most leaders did not enter the race to become the face of the company. If we look at the bigger players like Reliance, Adani Group, Muthoot, Bajaj, Unilever etc, the brand in itself was large enough and they saw no need for leaders to lend their persona.
Richard Branson (clockwise), Elon Musk, Jeff Bezos, Steve Jobs
To think of it, two people that came close to successfully using their personal brand in India were Vijay Mallya of Kingfisher and Subrata Roy of Sahara India Parivar. Mallya created an aura of flamboyance around himself and the brand associated with him, becoming truly the king of good times. Roy became the face of Sahara and its values. And, the downfall of both Mallya and Roy saw the decline of the brands as well. But now, with the start-up culture gaining momentum and the advent of new media in India, the focus on leaders has increased. In the current scenario, Anand Mahindra of Mahindra Group really stands out for me. The reputation he has built for himself and his brand are completely in sync. We’ll come back to his brand in a bit.
In India today, where medium businesses are rising and start-ups have taken centre stage, I see a hustle where everyone wants to be a poster boy of their brand. And, in that pursuit many founders and CEOs are damaging the brand instead of building it. Recently, BharatPe founder Ashneer Grover (of Shark Tank fame) landed in trouble over his alleged abusive call with a bank employee. Social media blew up with calls for a brand boycott, throwing the fintech start-up brand in the eye of the storm as well. The backlash was so strong that Grover went on “voluntary leave” of absence until the end of March. Much like Better.com CEO Vishal Garg’s mass firing over Zoom that forced him to go on a sabbatical.
So, the question is whether a leader should create a personal brand? If you want to become the face of your brand, it’s important to remember that while there are many advantages, it can be a double-edged sword. Here’s what you must keep in mind:
Humanise the brand: It is a good investment for a founder or CEO to develop a personal brand, as it helps humanise the brand. For the consumers, associates and investors there is immediate brand recall as they can put a face to a name. It creates a meaningful and memorable connection with your audience, making room for meaningful conversation. An example here would be Richard Branson who built a brand that people could identify with. Whether through comprehensive advertisements or simple communication, the flamboyant Branson became the face and marketing asset of the Virgin Group.
Authenticity is key: What does the brand stand for? That should be clear through the leader’s vision. I’ll use the example of Anand Mahindra to demonstrate this. He has built a brand reputation beyond just the company. With over 8 million followers on Twitter (check out his tweets), Mahindra’s content resonates a lot with users. What stands out is his authentic persona, whether he is talking about a social cause, making jokes and sharing funny content or expressing excitement over employees’ accomplishments. Yet, his personal brand resonates with what his company stands for. Remember the leader’s brand and company’s brand can’t be different. Let’s look at the opposite: I’ll talk of Gautam Singhania, Chairman of Raymond’s. While the slogan of the company is ‘A perfect man’ his persona in public eye is different. His conflict with his dad and the family feud is no secret. This clashes with the what his brand portrays.
Attract investors and talent: It’s no secret that investors back people rather than ideas. Accordingly, investors are more likely to invest in your company if you’ve garnered exposure for your personal brand and have built a tangible trust with your audience. It quickly makes up the minds of potential investors to put up larger stakes behind your brand. It also acts as a magnet for innovators, fresh talent, and industry peers. However, if as a leader you court controversy, the impact can cost you. Going back to the example of Better.com’s Vishal Garg, the damage from the Zoom layoff was so big that the company is reportedly seeing mass attrition since he joined back.
Be cautious: Whether you are a start-up or a small business, you have to be careful to not damage the entire ecosystem. The younger founders and CEOs are striving to become the face of the company but in that race, they often make mistakes that adversely impact the brand. You have to make sure that you do not erode the faith of investors, employees and customers as you are the guardian of VC money and employee wealth. Let’s talk about the show Shark Tank. It has created a lot of excitement amongst the audience, but I see the founders or sharks on the show trying hard to come cross in a certain manner. But if they are not themselves and are aping someone else, that is going to have an impact on their brands. BharatPe founder Ashneer’s call with a bank employee might not have created as much buzz had he not been on the show. In fact, he’s garnered a lot of publicity (not necessarily positive) thanks to the show where his comments are often seen to be brutal.
To summarise, in a cut throat world of business, to stand out as a founder or CEO means gaining good traction in the press, building a strong personal brand and establishing a rapport with your target audience. If you are a leader then you must build a personal brand that is perceived well by your peers, competitors, employees and investors and rest assured your company will reap the benefits. However, that hasty tweet or brash behaviour when you think no one’s watching will definitely impact your brand adversely. And no one is spared. Former PepsiCo CEO Indra Nooyi’s comment on finding ‘asking for a raise cringeworthy’ landed her in a soup, forcing her to explain herself. Or remember the backlash when Jeff Bezos thanked Amazon customers and employees for paying for his brief space trip or when Elon Musk tweeted that he had funding secured to take Tesla private? So, if you want to become the face of your company keep in mind that the CEO/founder becomes the brand’s “celebrity spokesperson” and is subject to scrutiny be it personal life, professional action or political views.