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!

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?

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!

How Startups Can Prevent Cyber Attacks

As a startup owner, your main priority is probably the growth of your company. You are dealing with long working hours, payroll, and the many hassles that come with building your own business. Most likely, cyber security is not on top of your mind­, but it should be. According to security firm ThreatMetrix, startups are considered to be an especially easy prey for hackers: in 2014, 85% of all data breaches were directed at small businesses and startups. Here are some of the best ways to protect your startup from cyber attacks:

(Curated from Tech.Co)

First, make sure all of your business passwords are protected, and don’t share them with other people. Doing so gives anyone and everyone unlimited access to your startup’s documents, which would be very bad for business. Create strong passwords by using lower and upper case letters, numbers, and symbols.

“Also, periodically changing passwords keeps your device safe from intruders who are out there predicting your easy to guess code.”

It’s also a good idea to back up all of your files in order to prevent damage to important information, which can cost proportional loss to your company. Making copies of important data periodically can protect your files from natural calamities, device failures, theft, and loss due to technical glitches.

“Though cyber attacks are often associated with hi-tech infiltrations carried out from an external location, don’t fall into the trap of letting important information walk out the door on a USB stick or compact disc.”

Make sure that your employees are properly educated -- if they don’t comply with IT best practices, they may unintentionally cause safety issues in your organization.

“Because employees provide such an open pathway to your business, it is recommended to conduct training about the importance of information security and the dos and don’ts. Security threats like phishing and social engineering can easily be prevented when everyone is aware and alert.”

Protect your computers and networks by installing a good anti-virus software. Did you know that it’s illegal to use free anti-virus software for business purposes? A free anti-virus software comes with no guarantee and is seldom or never updated to catch latest viruses and malware.

“The price paid for enterprise anti-virus software is far less when measured against the value it delivers. It is updated periodically to prevent your business against the latest threats.”

Always use a secure internet connection. These days, public and free internet access can be found virtually everywhere. However, a device with crucial information like credit card numbers, usernames and passwords, business data, or anything else important should not be used in conjunction with public Wi-Fi.

“Intruders may get access to your device and ultimately all your information once while your device belongs to a public network. A secure connection is set up with a username and password, and only authorized users can enter that system, this way we can easily trace back in case of any discrepancies”

What other cyber security tips do you have for startups? Let us know!

Here’s What to Consider When Managing Millennials

As more and more baby boomers retire, millennials are becoming the majority of the workforce. What does this mean for business owners? Well, before hiring a millennial, it’s important to consider that this generation’s upbringing has been entirely different from the generations before them. With exposure to technology at a young age, their skill-sets and the expectations placed on them may differ from those that were placed on someone who entered the workforce 20 years ago. When it comes to managing millennials in the workplace, here are some important things to consider:

(Curated from Pittsburgh Business Times)

Provide Exposure

It’s important to millennials that they be exposed to all areas of a business. They want to learn the ins and outs and gain a deeper understanding of the way the business operates.

“One way to do this is by offering internships or hiring college students part-time. It also serves as a prime opportunity to vet a potential future full-time employee’s work style. Doing so also benefits the business greatly as the millennial's unique perspective may provide some guidance on new ways to reach their generation that you may not have otherwise learned.”

Be Flexible

Millennials by nature don't really like rules. If you press too hard on them to comply with the company's position on things like hours, attire, or workspace, you could very easily find yourself losing a good employee.

“Allowing millennials to create their own hours means they’re happier and working more efficiently. Rather than setting hours based on face-time, moving to task-oriented or project-based work and evaluating performance in real time fosters improved happiness in the workplace. As far as the physical workplace, the setup of the office should be evaluated as well. Creating a space that is a collaborative working environment means removing the cubicle walls and eliminating private offices. Having an open office with different workspaces for teams creates a sense of camaraderie, rather than a feeling of being isolated in cubicles.”

Stay Tech Savvy

Millennials are a generation that was exposed to technology from day one, so they will expect their employer to have the most up-to-date technology. They’re also used to being able to work any time of the day or night while having access to what they need at their fingertips.

“Taking advantage of this knowledge will prove beneficial to a small business when it comes to knowing how to select, use and learn software. A great way to get them more involved with the business is to consider getting millennials involved with your social media presence, as it’s generally a strong suit of theirs.”

Give Feedback

Millennials want feedback on how they are doing, they want that feedback often, and they want it right now. Remember to coach and provide a learning opportunity for millennial workers when developing a leadership and feedback style for them.

“Developing a structured feedback style where check-ins are done on a regular basis — perhaps weekly — creates an understanding of what is expected and provides the necessary space for exploration and learning as well. Coupling this with a rewards or recognition program and aligning benefits with the company’s core values and beliefs provides millennials with motivation and the right tools to succeed.”

Though managing millennials can certainly be challenging—particularly for managers who have no experience in this area—it can yield many benefits as they are smart, creative, tech-savvy, and resourceful workers. What other tips do you have for managing Millennials?

How to Stay Productive When Working from Home

Working from home has several benefits, but is increased productivity one of them? While some people find they are more productive when working from home, many others experience difficulties that those in an office setting don’t. Fortunately, there are a number of ways you can be just as productive at home as you are in the office.

(Curated from Entrepreneur Magazine)

Avoid Sleeping In

Rather than sleeping in until the minute you have to start working, try getting into the routine of waking up early, as if you were actually going to work. The reason? It takes about two hours for your body to fully wake up and adjust to its best concentration level.

“In the morning when you first hop out of bed, your melatonin levels are still relatively high, which is often the reason for early morning grogginess. Jumping right into work when you haven’t given your mind and body the appropriate amount of time to adjust can inhibit your productivity.”

Make a To-Do List

Working from home can make it difficult to keep important tasks at the forefront of your mind. Creating a to-do list of important tasks will help keep you on track and reduce your ability to procrastinate. It’s also a good idea to schedule 5-10 minute breaks in between tasks to keep your level of focus up.

“When you schedule your breaks, you also tend to stress out less about taking those breaks. You give yourself more of an opportunity to truly relax in those 5 minutes rather than hitting yourself over the head for wasting time.”

Stay off the Couch

Working on the couch may seem tempting, but the problem that often occurs is that one can get a bit too comfortable.

“You should set aside some space that is solely for the purpose of work. If you work from home and you don’t have a separate space or office, you should at least have a desk. A huge part of productivity is getting into a focused mindset.”

Make Plans After Work

The majority of people go home to get away from work. When you work from home, you don’t have that option. Try making plans after working from home whenever possible to avoid turning into a recluse. This doesn’t mean you have to do something extravagant, but give yourself a reason to get out of the house.

“Being alone every day and isolated in your own living quarters can have negative psychological effects. Just because you are working from home doesn’t mean you should work on the couch in your pajamas every day. It’s important to structure your days and separate yourself from your house if you truly want to be productive.”

How do you stay productive when working from home? Share your tips with us!

How to Boost Creativity as an Entrepreneur

To be successful, entrepreneurs need to be innovative, and that requires a lot of creative thinking. Unfortunately, even the most innovative thinkers run out of ideas every now and then. Next time you suffer from a creative block, use the following techniques to hack your brain into being more creative and productive.

(Curated from Tech.Co) 

For entrepreneurs, being surrounded by art is a great way to find inspiration. Unfortunately, the approach to business can be rather clinical in nature, and therefore very restricting when it comes to creativity and innovation. Adding some artwork to your workspace can give you the creative boost you need.

“There is a real tendency to opt for sanitized, lean workspaces, designed to encourage staff to just get on with their work and avoid distraction,” psychologist and researcher Dr. Craig Knight says. “If you enrich a space people feel much happier and work better; a very good way of doing this is by using art.”

Spending too much time in your office can also have a constricting effect on your creativity. Every once in a while, it’s a good idea to switch things up by rearranging the layout of your workspace or working in a different location altogether.

“A change of scenery can completely alter how you get through a day,” says Deborah Sweeney, a proponent of switching offices on a rotating basis. “Maybe you work best when working by a window, or you need to be in the back of the room where it’s less noisy and there’s less foot traffic.”

Another great way to spark creativity is to spend some time outdoors. Being surrounded by nature can make entrepreneurs more receptive to new ideas and creative thoughts. Next time you feel like you’re stuck inside your own head, go for a walk.

“Don’t assume that you have to wander through a national park to enjoy the benefits of being outdoors. Even a walk around a crowded city block can yield fantastic results. The point is that you are getting out of your bubble and stimulating your senses.”

One of the best (and often most difficult) ways to ignite innovation is to get out of your comfort zone. Deviating from your normal routine and trying new things takes a lot of work, but it can do wonders for your creativity.

“Make time for getting out of your comfort zone. Schedule weekly networking events. Meet with people who are different from you. Find something that scares you and chase it. This is how you stumble upon new opportunities.”

Creative thoughts can be hard to come by. Whether you do your best thinking after your morning cup of coffee or late at night in bed, it’s always a good idea to write your ideas down.

“One tangible tip is to always have a creativity notebook nearby. This is a physical notebook that serves no other purpose than scribbling down ideas. By training yourself to put ideas on paper as soon as they appear, you can ensure you don’t overlook anything.”

What other tips do you have for entrepreneurs to boost their creativity? Let us know!