For Startups, Making Your Brand Known is Key

By BEN HEINEMANN Startups typically have the biggest dreams but minimal budgets, at least when they first get going. Knowing how or where to spend the capital a startup company has secured is essential to launching the business and letting the public and consumers know that you exist - with an aim, of course, of earning new business. As a veteran of the franchise industry who specializes in consulting and advising existing and startup franchise concepts, Steve Beagelman, President and CEO of SMB Franchise Advisors*, says public relations and social media should be an area you invest money in right off the bat. “When you’re a small company and other people talk about you, it validates your concept,” he said. And while public relations or a social media campaign may not guarantee leads for your new business, at the very least people will start talking about you after they see your business in a paper or online. Beagelman cites an example from client Nick Rizzi, who launched the Smart Tax franchise in 2005. “When it comes to an industry that is so heavily saturated, you need to stand out and give people a reason to choose your business over others,” said Beagelman. “It’s not like Nick created a new industry. However, when you see Smart Tax in CNBC, Fox and Entrepreneur, all of a sudden it validates your business and your concept and the leads you may be working with pay attention.” In addition to the power of public relations, Beagelman cites additional, inexpensive ways to get people to notice your business without dropping a lot of money. “Things like franchise shows, internet advertising and webinars can also be used for self-promotion at a relatively low cost. If you have a database of names, I would send an email blast announcing your business and any available opportunities.” Another thing a startup should pay close attention to is the image they create for themselves. Tim Alevizos, Partner and Copywriter for Minneapolis-based Intercom Agency, a marketing and branding agency whose clients include Famous Dave’s*, Target, Nestle and Dairy Queen*, said a key to launching your business is making yourself look as complete, polished and established as possible. “It’s important to give the impression that your brand is fully fleshed out and thought through,” he said. “You want to imply that it’s been around and that it has a lot of depth to it.” As such, making an initial investment in an agency that can provide branding, corporate identity and website development would be a smart move. “When you come to the table with a well thought-out vision for your startup, you inspire confidence and have the credibility that it takes to win over potential investors, partners and vendors. For example, if a client is a new restaurant, we’ll do things like create a mock menu, have a logo ready to go even if it might not pass trademark, we’ll create ads and do some billboards so that when you go to investors or even present your idea to the landlord of a space you wish to occupy, everyone sees that you’re ready to go.” In the end, Alevizos says that a key to launching your startup or new business is making your perception become your reality since you don’t actually have the money in the bank to do everything from the get-go. “You need to start building your business in order to keep money coming in, so you need to build with an eye towards all the different audiences you’ll be putting your business in front of,” he said. “Be aware of the audiences, all the people who might be interested and take a stake in what you are doing. Create your identity in a way that reassures, excites, and wins the support of the people, not just the consumer.”