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Give your business the best start with a solid brand

30 Jun 2022 by Vicky Hutchinson

Not to put a damper on things but 60% of new businesses don’t go any further after 3 years. There is a myriad of reasons for this, such as finance, poor product/service offering, bad marketing, wrong price point etc…

So, what should you do to make your brand sustain and soar? The answer is simple: build a strong brand identity. 🙂 Well obviously on top of having a good business plan in place.

If you build the strongest foundations you can with a solid brand it gives you a better chance to create a business that lasts.

Those businesses that do last are based on value-led goals, not financial ones – finance is central to surviving but should not be the lead in messaging. If you have a values-based framework it helps drive your decisions as a business but also attracts the right people to work for your company, and these are the people that will help your business to succeed in the long-term, they have invested in your vision and will understand your goals.

How will a brand strategy give your business longevity? It helps you define the important parts of your brand such as…

  • Your Why: Starting from the core of your brand, this is your brand purpose, which is, “Why your company exists? Values that inspire you to make a difference.” Once you have this you can develop it into your brand story and mission statement which will help you connect with the RIGHT customers and help your team to understand what they need to do every day to help you achieve your goals.
  • Your brand values:  These are the core set of guiding principles that shapes every aspect of your business. They are not only the beliefs that you stand for they also help to define your brand’s identity, message and personality.  They should then guide your business’s actions, behaviours and decision-making processes, ensuring consistent messaging and in turn attracting loyal advocates with the same ideals to champion your brand. Values also help to attract the right people to your team, and a strong team can help your business fly!
  • Brand positioning: It is only by doing market research and delving into your competitors that you will get a really strong understanding of what your competition/peers do well, where you can differentiate yourself and what you can do better.  Also if there is a need in the market for your service or product, research is key – Understanding your audience and your positioning will ensure you stay relevant for a long time to come.
  • A strong brand identity: Once you have your strategy and understand your positioning, values, brand personality and messaging, you can then look to create a brand identity that reflects your business and levels you up. Good branding based on a solid strategy can elevate your business to look more established, polished, professional and trustworthy even if you are just starting out.  It sets your standards high and gives the best perception of your service or products to your potential clients.

There are so many more reasons to have a good solid brand for your business, but at the end of the day, branding saves you money, not cost you more, and can help your business last past those three years. So while as a start-up, the investment might seem hard to make, in the long run, your brand will prove to be invaluable not only in helping you achieve your goals faster but also to create a business that’s in it for the long run.

If you would like to find out more about creating a strong brand and visual identity for your business drop me a line at  vicky@creativehutch.com

 

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