Over the last few years of having worked with startups and scaleups across various industries, if there’s one thing I recommend to everyone to increase their probability of success is – BRANDING. Yes, the impact of branding is way more than just a look and feel you give to your business.
Yes, spending time on getting your logo, tagline, vision and mission, value proposition, and all the collaterals might seem like something you could do later.
But even a study by Researchgate, that monitored the success of 15 of the largest and most successful startups and reverse engineered what they did right, suggests branding is what got them there.
The paper establishes an overview on the current practices and rationale of the brand building activities, and on the emblematic pitfalls regarding branding of new ventures. It suggests that young companies should not be forced to compare their branding strategies to multinational firms and proposes a framework and key guidelines for start-up branding. It also includes a detailed section on the impact of branding across all domains and functions of your startup/ scaleup.
And if you do have your branding in place, let’s measure if you have all ground covered. Get your growth score with the Traction Tracker today.