Thursday, October 27, 2016

6 Major Branding Mistakes and How to Avoid Them

Branding, a commonly used term throughout the business world, essentially means to create an identifiable entity that makes a promise of value. While branding is not an easy task, it’s one that should be taken very seriously. Numerous startups try, but many fail at creating a successful brand. Here’s how to avoid some common pitfalls and branding mistakes.

(Curated from Tech.Co)


1. Don’t Forget to Trademark

Have you registered your brand’s trademark yet? If not, you’re not alone -- many brand owners fail to do so. However, as soon as you create a brand, it’s important to file a record of the trademark itself under your name with the right government offices.

“Deal with every single infraction of your brand use guidelines and any possible violation of your trademark. If you don’t, you may lose the chance to take any action at all. The point of your trademark is to protect your brand reputation, and keep the competition from copying your work or diluting your brand value. Make sure it does that by addressing infractions.”

2. Do Your Research

Before you choose a name, logo, look, and voice for your brand, do thorough research online. Not only will this help you make the right choices, it could also help protect you against infringing on the intellectual property rights of others.

“Use Google for your research, and when it comes to choosing names, domains, and other branding elements, also search visitcopyright.gov before you make permanent branding decisions.”

3. Choose a Good Domain Name

One of the most important elements of your branding is the right choice of domain name. You want something that reflects your company’s name, but nothing that’s too long, too confusing, or too irrelevant.

“First, make sure you get a good domain name extension. The most popular right now are “.com” and “.co” for general business. But there are many new options out there. There is nothing wrong with picking an industry-specific or even country-specific domain. In general, avoid dashes or numbers in your domain name, and make sure it’s easy to spell. You can also check for similar social media profile URLs.”

4. Pick a Unique Name

Choosing the right name for your business seems simple enough, but before you even start brainstorming names, you need figure out what your company is really about. Also, be careful not to pick a name that’s already popular or has some seriously negative online history.

“Don’t forget, a name that’s too close for comfort may be infringing. Imagine building up your business for 10 years only to find out that you are no longer able to use that name.”

5. Carefully Choose Style Features

Before choosing your brand’s colors, it’s a good idea to know the meaning of them. Have a consistent visual picture and logo that comes to represent your company. The graphics and visuals that represent your brand evoke an emotional response in clients and potential customers.

“Choosing colors, images and other visuals that just don’t work with what you’re doing can dead-end your branding strategy. For example, pink may be your favorite color, but it may work against your new software brand.”

6. Check Cultural Significance of the Name

Your name says a lot about your startup. Be sure to check every reiteration, reference, stigma, or foreign swear word that could be associated with your name, or else you could end up in hot water with another country.

“Content can go viral in hours, so don’t set yourself up for an embarrassing failure in the cultural awareness department. Make sure to review how your name is interpreted in all the major countries you will be doing business in.”

What are some of your top branding tips for startups? Let us know in the comments below!

Friday, October 21, 2016

How to Know If Entrepreneurship Is Right for You

Many people dream of opening their own business, but not everyone has what it takes. How do you know if you’re cut out for the job? While there is no simple way of gauging whether you are or not, there are certain traits and characteristics that come as red flags for someone looking to start a business. Here are some signs that you are not cut out for the entrepreneurial life:


(Curated from Tech.Co)

You Get Along with Everyone

People-pleasers make great salesmen and customer service reps because they are empathetic and shy away from confrontation; however, these are not good traits to have as an aspiring entrepreneur.

“Startup founders and business owners need to be able to put their foot down and demand the things they need. Whether it’s funding, employees, or the right influencer, an entrepreneurs need to be able to stake their claim, regardless of the people that need pleasing.”

You Follow Orders

The world is made of followers and leaders. Which one are you? If you’re comfortable with being an order-taker for the rest of your life, perhaps entrepreneurship is not for you. If, on the other hand, you thrive at making tough decisions and giving some orders, that may be the spark of entrepreneurship.

“Entrepreneurs don’t follow orders. They make their own path and create the circumstances needed to succeed. Even if experts advise otherwise, an entrepreneur acts on well-informed instinct, and those instincts are usually right. Following orders gets in the way of the creative process, and an entrepreneur without creativity might as well start greeting people at Walmart.”

You Love the Status Quo

The status quo helps regulate the business world in many ways -- It lets potential candidates know what it takes to get hired, it keeps employees informed on how to keep their jobs, and it makes it easier for managers to keep track of their team. However, true entrepreneurs are always challenging the status quo.

“Entrepreneurs have no business in the status quo. They’re all about mixing things up, innovating new technologies, and revolutionizing the standard way things get done. As far as entrepreneurs are concerned, “status quo” is a curse word that should never leave their lips. Unless, of course it’s in the sentence, “to hell with the status quo!”

So, based on the above: are you cut out for the entrepreneurial life?

Friday, October 7, 2016

Major Challenges Startups Face and How to Overcome Them

Startups deal with a number of growing pains, but knowing and anticipating the roadblocks you may encounter in your startup journey could help you prepare beforehand, and possibly avoid common pitfalls. Here are four major challenges startups face and how to overcome them:

(Curated from Tech.Co)


1. Rapid Growth

It may seem like a dream come true to see your startup grow at an enormous rate; however, many startups fail because their owners aren’t prepared for rapid growth and don’t know how to handle it.

“Experienced entrepreneurs consider this kind of phase to be one of the best opportunities for their startup, though, and not an obstacle. By realizing that this is the right time to move out of the startup mode and leap into the scale-up mode, startup owners can start hiring the right kind of talent and carry out the organizational changes that are required to handle this massive shift in their paradigm.”

2. Financial Management

What exactly goes wrong to cause a startup to run out of money? Often, it’s because they fail to achieve the next set milestone before they run out of funds.

“The real issue is that it becomes tough to secure more funding in such a scenario since the results don’t match the expected growth. Even though it’s still possible for startups to raise more funds and keep the ball rolling, the valuation would be much lower.”

3. Competition

Competition is fierce and poses as one of the biggest challenges for the survival of startup businesses, especially if your business operates online. The competitive environment keeps startups on their toes, as there is no margin of error available. But if startups can find a niche market and differentiate themselves from their competitors, the reward is great.

“Though many businesses can choose to offer rock bottom prices for specific products or services to lure in potential customers, implementing this could be tricky if the associated industry or manufacturer has specified a MAP Policy,” says Daniel Relich, CEO and co-founder of Tradevitality, a MAP monitoring software.”

4. Tough Market

The current market is always changing, which can make it difficult for startups to keep up.

“Although a vast majority of startups across the globe strive for innovation, they are highly likely to get easily distracted by starting multiple projects, trying to penetrate new markets or adopting latest technologies. This often makes them lose sight of their niche market and core projects.”

Another reason why startups fail is because they don’t create a product or service that meets the market’s current needs. This could either point towards an issue with basic execution or a bigger strategic problem. The solution is to build something which truly adds value to the market and has a large audience that needs it.

What are some of your suggestions and ideas for startups to find success? Let us know!
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