Top 5 Branding Mistakes That Kill Small Businesses
We have talked about small businesses you can start with little capital and some of the mistakes that fail most start-ups, but we are yet to talk about the deadliest mistake you can make. Branding!
Most of us often think that branding is a big companies problem. You will be shocked to realize how many small businesses fail even before they start due to branding mistakes that most entrepreneurs commit.
Many small entrepreneurs think of branding in terms of big names like Samsung, Apple, Safaricom, and the likes. Still, branding affects small businesses just as much, especially when you just start a business without realizing how important good branding is.
Here are the top branding mistakes that end up killing small businesses before they even take shape.
Bad Business Name
Think of your new business as your baby. Just like you would want to give your baby a unique name, do that for your business. Don’t just go with something that you have seen on the internet or someone else’s name and attempt to fine-tune it to fit your business.
Give your business the identity you want people to recognize it as. Let the name reflect what your business stands for, and please, for the love of God, avoid those cliché names that don’t add value to your business.
Most people, when they start a business, don’t concentrate on the value of pitching. They focus too much on making a profit that they ignore the most important thing. Good business means spending money to get to where you want to be.
Think about this, if you land a client and they come to your office, and you offer them a torn chair, how likely are they to come back? If the working conditions you expose your employees to are dilapidating, your business is not likely to survive the first year.
So the moment you realize that you have to spend money to make money is the time you can thrive in entrepreneurship.
Taking advice from the wrong people
One of the problems that kill most startups globally is taking bad advice from not even experts in the matter.
You want to run a business, and, commonly, you may need the output of some of the closest people in your life. But be careful about taking just any advice and implementing it.
Bad advice had led to the downfall of so many small businesses.
Complicating your brand too much
There is a reason why companies like Safaricom or Coca-Cola continue to survive up to today. It’s in the power of branding. Keeping it simple and communicating your brand most effectively. This means the choice of name and colors.
Safaricom still sticks to its green and Coca-Cola to its red. What if Safaricom was to add all manners of colors, thinking they will communicate better? It would probably not be standing today as the leading mobile service provider in the country.
The same goes for your business. Brand your business in a manner that is unforgettable and at the same time clear and simple.
The crowd mentality
Following the crowd has never led to anything good in life. Going back to the likes of Coca-Cola, the company hasn’t changed its name of the color in like forever, and look where they are today. Find a unique way to sell your products and services instead of doing what others are doing.
We can all agree that Coca-Cola adverts are by far the best we have seen on TV. It’s called being unique and standing your own ground. It doesn’t matter whether you started your business with less than 5K. Is your business likely to survive the next five, 10, or 20 years?
Small businesses don’t fail because they are not able to compete with big brands in the market. They fail because someone forgot the power of branding before venturing out. Don’t underestimate this because it reflects on your business for several years to come.
If you’ve established your brand, you must ensure that it is reflected consistently in all platforms in which your company is present – print, the company site, TV, video, social media, events, PR, and so on.
Inconsistency sends a mixed message to the public, and the one place you must be consistent with is your brand. If you build good brand guidelines, you will be able to help with this.