How to Turn Your Software Startup Into a Successful Brand
When it comes to dreaming big, every single person on this planet is in the lead. Who of course, doesn’t dream of uncountable riches and undying success in his/her life? However, things that are worth achieving are not so easy either. One needs to put in a lot of brains and dedication to make things happen in this truly crazy world.
You might be possibly wondering right now – “We know that, say something we don’t know or at least speak out something that isn’t too obvious as this!!” Well, to be frank, no matter how obvious this particular saying sounds, it isn’t half as easy as it seems to envision your dream and build something out of nothing in just a day. A few rules to be followed, a few mistakes along the way, a few perceptions to be made – most of all, it is all about how you take your business from one level to another.
One of the easiest and contentment-providing ways to be successful and rich in today’s world is to own a Startup!! But just owning a Startup isn’t everything. You also need to turn your Startup into a successful Brand if you want to climb the ladders of success, fame, and money. For now, let us discuss some ways and tips on how to turn your software startup into a successful brand. Read On…
FIRST AND FOREMOST – AVOID THESE MISTAKES
- ‘Inspired’ Branding Of Your Startup
If you are highly influenced by Nike’s “Just do it!” or Microsoft’s “Be what’s next!” and are trying to imply the same for your brand, you are committing a HUGE mistake. They are highly successful brands and with high market values and share a percentage of around 61-70 approx in the market. Just trying to apply such a branding for your startup isn’t going to land you anywhere!
- Long Tagline Instead Of A Short One
If you are thinking about this idea, well, it is the time that you dump it. This is because when it comes to taglines or slogans that will accompany your brand, having a long descriptive tagline can be disastrous. Instead keep a short tagline for your Brand, and this short tagline should clearly express the mission and vision of your Startup Company. Such a tagline will not only differentiate your Brand from other brands, it will also provide exclusivity to your Startup, and thereby helping it to grow higher!!
PUZZLED?? I WILL TELL YOU WHAT TO DO
Well, if you cannot finalize a short brand tagline/message for your startup, there is no need to be puzzled or worried. This is because it is not completely necessary to give a tagline that goes along with your Brand. Just announcing a new Startup with simply its name will surely attract people’s attention if done in the right way through proper channels. Moreover, if you disclose it all, where is the game even left?!! The branding aspects of your startup/business also depend on the Industry and Market it is related with. Hence, it is best advised that you study the market carefully before you zero-in on the Branding strategy for your startup.
THE RULEBOOK FOR BUILDING YOUR SOFTWARE STARTUP BUSINESS
The following points or ‘Rules’ are not just intended for Software Startups but they can be adapted by Startups in any field of Business. Consider this as a rulebook of sorts for devising your business strategy if you intend to turn your Startup into a BRAND!!
- Plan Your Target Market Carefully
Planning and targeting the right kind of market will improve your chances of turning your software startup into a brand. Doing this will also improve the performance of your Startup and thereby raise its financial standards on a comparatively larger scale than expected. In other words, the first and foremost thing that you need to do if you want to make your Startup a Brand is to identify your target audience and devise your brand strategy keeping them in mind.
- Create Awareness About Your Startup
Spread the name of your Startup as much as you can, especially among your target audience. Expand your reach with the help of social media channels as far as possible. Remember, if you spread the word about your Startup to 50 people, chances are that around 10 of them will at least take interest in it. If the reach is 100, imagine the kind of market you are creating for your brand.
- Devise A Marketing Strategy
It is highly important that you devise an exclusive marketing strategy for you to survive in this industry. This strategy of yours should include both: Short-term Goals & Long-term Goals. Always remember, there are a hundred others like you trying to sell their Product/Service in the same market. What is in you that makes you different from the rest? – The most basic question the customer/client will ask! And so you must have a proper solid marketing strategy in order to answer this.
- Perform ‘SWOT’ Analysis
Every successful brand was once a startup, your way of thinking and doing business makes you the best or the worst brand in the given market. For this, you as the Startup owner should definitely perform the SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis of your business. This will make the vulnerability of your Business low and will provide you with Strategy Building options for improving your business standards.
- Be Highly Flexible And Available
Always remember, first and foremost, the primary purpose of your Startup business is to get recognized, have a client circle and how to retain that circle. For this, you have to give up on your comfort zone and personal rigidity and be as flexible as you can in various categories such as Time, Resources, Communication, Deals, etc. You also need to be available for your clients and prospects whenever they contact you regarding your Startup Business.
- Be Patient
You might be wondering about how even after doing everything you could to take your Startup higher in the branding space, you are not getting your desired results. Well, running a Startup is all about patience and persistence. You cannot expect to be a millionaire in a day. And, if you own a Software Startup and wish to build a successful brand based on your vision, things got to take their own time buddy!!
And yeah, Do not worry if things don’t work out the way you intended them to. They don’t all the time. It is Natural. It is Business! Remember?!!
THE 3 MAIN REASONS WHY STARTUPS FAIL:
Dr. APJ Abdul Kalam once said, “If you want to be successful in life, read the many failure stories which didn’t quite make it to success.”
There is quite a deep meaning behind these great words of this genius of a Man. You can learn a lot more from failure stories than from success stories, as they make you realize the various ways in which you can fail. And this realization will help you avoid those ways and thereby increase your chances of becoming successful!! Interesting, isn’t it?
I have given below the 3 main reasons why some startups fail and the lessons learned from them. Hope, these will come in handy for you too.
- Do not invest your everything into one main thing and always have a secondary source of income.
- Be prepared for taking risks and the subsequent setbacks, they are a part and parcel of startup.
- Be prepared for change – the one simple thing which many IT giants could not meet and thus ended up getting owned by others or even closing down their operations.
Well, above-explained are all the concepts that I think will immensely help you in turning your Software Startup into a highly successful brand. If you have any further suggestions regarding the same, feel free to discuss it with us in the Comments section below. Thanks !!