When people found a new business or startup, the business model itself usually takes center stage.
Building and refining that business model can become an obsessive process, as whilst most founders start with a set of ideas and goals already in mind, these can quickly change and adapt.
In the midst of brainstorming and refining business ideas, it’s tempting to defer laying the other foundations required for startup success.
Here’s what you need to consider:
Branding has always been central to business success. Consider some of the most famous brands in the world like Coca-Cola, Google, McDonald’s, Facebook, Apple, etc. They all have long-established logos, typography and brand messaging.
When you try to loosely segment your target audience, be mindful of how to brand your business to that audience. At the start, it’s prudent to keep an open mind as your clientele can develop into something slightly different from what you expect.
Be aware of the psychological challenges of founding a startup or running a small business as there will be some. Read our post on the psychology of startup founders here, and also read about how successful business people created huge businesses from humble beginnings. Both can provide some insight into what it takes mentally to catalyze startup success.
Over half the world uses social media and most people now expect businesses to have some form of social media presence. 73% of marketers believe that using social media is either somewhat or very effective, according to Oberlo.
Social media is time-intense, but automation and scheduling tools alleviate some of the strain. Learn more about social media tips and tricks for small businesses here. Social media ties in closely with branding, especially given that social media is moving towards more image and video-based formats.
In a practical sense, the more bases you successfully cover early on into your business journey, the more you can concentrate on growth and scaling in the knowledge that other crucial processes are running smoothly in the background.
In a psychological sense, the peace of mind that no crucial puzzle pieces are missing from your business in its early days is very valuable.