Branding for startups, small businesses and Entrepreneurs…
Some “branding experts” are saying that you should spend thousands of dollars on branding. Don’t believe them.
First, I must explain, that there may be a valid reason for some companies to spend thousands, even millions, of dollars on branding, however, these are typically large corporations and other well-established companies – the ones that can afford to spend this kind of money on a brand.
Why would you spend thousands of dollars on branding when you may not even know who your target-market is? Or maybe you haven’t even made any profit yet? If that’s you – you still don’t know if what you’re getting into is going to work. Take things one step at a time.
What should you do now?
It might still be a good idea to spend some money on a logo, a nicely designed website and promotional materials…. but don’t overdo it. You probably won’t need to spend more than $300 on a nice logo and could realistically get a website (with a branded design based on your logo) for less than $1000.
Everyone needs a website, it’s an essential marketing tool for your business… but don’t be fooled into spending thousands of dollars when it’s not necessary. It might be necessary depending on what you want to do with your website, but honestly, most businesses don’t need that much to get a great start. Seriously, you might really never need to spend thousands of dollars on these things – take it step by step and see how things go.
One of the first things you should do, before branding, is BRAND IDENTITY… this is the process of figuring out what your target market is, what you are best at, and where you want to put your focus. Your target market should not be everyone. You should specifically define your target market and focus your business on that. That doesn’t mean all of your clients/customers are going to fit into your definition, but it means you’re more likely to enjoy what you’re doing.