Well, everything.
One has to wonder if branding has now finally gone mainstream, with even IT magazines now sporting articles about it. Can it possibly be the new universal job skill? Sounds crazy, but somehow, branding is everywhere and everybody's doing it. The media can't leave it alone, and branding consultants are popping up like dandelions on a bad corporate softball field. Everyone's expected to know what it is, how to do it, what it's worth, how to measure one's own...blah, blah, blah.
But very few out there in businessland (save us branding consultants and the Great American Hero, the entrepreneur) have actually created a brand—sat and stared at a blank piece of paper (or napkin) to go about the daunting task of inventing a brand and building it from scratch.