Having a brilliant product or service isn’t enough. To capture today’s consumers, smart startups are first crafting a brand strategy—one that builds a forward-looking foundation for the company.
Suppose you’ve got an idea for a great new thingamajig. It could be anything—a luxury candle, affordable college education, or a product to prevent male pattern baldness. You can’t get the concept out of your head. You have to bring it to life. But you have no prototypes, and no experience with the intricacies of industrial design. No understanding of production and distribution. No web design experience. No detailed market projections. No money.
In this moment, logic would advise against obsessing over brand strategy—and it would definitely advise against hiring a pricey agency to help you do it. And yet, a growing number of startups are doing just that, seeing great success as a result.
Only a few years ago, product was king. Founders focused on getting a minimum viable product to market, fast—iteration could fix shortcomings. Brand strategy was a back-burner issue, one to address when time and budget allowed.
But today’s tech tools make it easier for founders to, well, produce a product. With design sprints, rapid wireframe and product prototyping, contract manufacturing, fulfillment-as-a-service, web-store design, and hosting services, some entrepreneurs can go from concept to first paying customer in a matter of weeks.
That’s a double-edged sword. Those tools that make it easy to rush a product to market? They’re available to everyone, and have resulted in unprecedented competition in the startup world. (According to Crunchbase, VCs closed more than 22,500 global funding rounds last year, continuing a multiyear trend of increasing deal flow and sizes.) Countless entrepreneurs are discovering that their supposedly game-changing idea has already been launched by others, or at best is being copied by nimble competitors.
Denne historien er fra October 2018-utgaven av Entrepreneur.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2018-utgaven av Entrepreneur.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\" Instead, what I found was a tarot card deck.
10 HOTTEST TRENDS for 2025
Want to buy a brand that buzzes? Here's what to know.
BUILD YOUR MONEY MACHINE
A franchise isn't just a franchise. It should be a Money Machine, creating profit even while you're out of the office. Here's how.
The Top Franchises for Veterans
Are you a military vet looking to become a franchisee, or just want to support a brand that supports the troops? Check out these 150 brands.
20 LEADERS WHO ARE DEFINING ENTREPRENEURSHIP TODAY
In a year of disruption, we wanted to know: Whose work will define the years to come? We reviewed hundreds of names and picked 20 leaders across a range of industries and sizes. Meet them on the following pages, and see what it takes to thrive in 2025 and beyond.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humilityand it changed the way I relate to clients.
I've Been a Publicist for 17 Years.Don't Hire Me.
Entrepreneurs often think they need PR. Most don't. Here's why you're probably better off not hiring someone like me.
The CEO's Advice to the MVP
Kickstarter CEO Everette Taylor knows the formula for a successful launch. NBA champ Jaylen Brown recently launched a shoe and athleisure brand. They have a lot to teach each other.
