Failures are good as they leave us with lot of experience. Thomas Edison says, “I haven’t failed but I have found 10,000 ways that won’t work.” Saying so, feels good that yes failure is not an end it is only an event which no one would like to repeat. Start-up Brands mostly look for constant encouragement and sometimes even go hunt for a dose of positivity to overcome the failures. But what could be the steps, decisions which one can be careful of, to save themselves from such negative outcomes which can be termed as failure. Have a look.

This post is exclusive for the Start-up Brands. Product/Service brands which are launching everyday should be watchful of their decisions.

Planning is better than Rushing.

Many start-ups rush into decisions without proper planning. Plan before you jump into, doing your own thing.

Chances are you will soon be rushed into a closing dilemma if you are left without things to execute and without any plan B, there are chances that you will suffer from a initial low-down. And even if you are able to excel it for a while, you need to plan for the latter stages as well. Entrepreneurship is ever evolving and a start-up brand needs constant fodder of thought & ideas. When we are small, we need to offer more to become big.

Here are stories of 2 brands I worked with, one with huge investments and no planning, one with just an idea and no planning.

Some brand owners risk it too much at the beginning without tasting the initial bites of success. One of my clients invested into an idea with huge competition already into the market. She had worked into the same field in past in a different market and launched it with a grand office where even the brand elements were incorporated, they could not sustain the brand for 2 years and now they are not even keen on keeping the domain. I wonder, many wannapreneurs can do magic given such investments.

I briefly worked with clients who were keen to venture into social media. We did the initial brand design and by then the client had realized they were missing out big time on the planning. The postponed the idea and are happy with their jobs.

In a way, it helped them and saved the amount they would have spent on an idea which was yet to be explored for execution. Plan before you proceed working on your brand.

Myopic Idea is Harmful.

Many a times, the ideas are myopic and they result in myopic brands. Some of the brands we worked with end up into a re-launch, a closure and some postponements.

Reasons are numerous and different for various entrepreneurs. An idea which is not well explored, studied and checked on feasibility and for which the markets are not tested is bound to bring failure to your brand.

In some cases, the stakeholders stopped the work on brand in the design phase itself. The brainstorming sessions with client, end up in so many points to ponder, that the client decides to take a break and re-work on the idea.

That is why, it is necessary to make sure that your idea & markets both are tested. You are aware of the target segment and its availability as well as the competition.

One of my clients Mr.X got swayed with an idea and he wanted to launch it now and did not want to invest his time, effort and money in it. We did our bit but he could not take the brand forward, reason the idea is still good but it is not well executed.

Hire Smart, Value your team.

One of the most important reasons why start-up brands fail is the team behind it. You need to hire smart and value them. Tea behind the brand is its prime ambassador, you need to make your team believe in your brand and advocate about it. Even if you hire freelancers, they should appreciate working for your brand and not merely take it as a project they are put on.

You cannot end up hiring someone based on the past. You can hire someone who is passionate about the work s/he does, the kind of projects he executes, someone who could be nurtured as a strategic partner, who sees growth as well as profits instead of the latter.

At the same time, one basic ingredient of a healthy team is ‘internal branding’. Your team needs to believe in it and only then they can become the advocates of your brand. It is also important that you understand the capabilities, strengths and weaknesses of your team members and delegate accordingly. Favoritism is a big no in start-up brands. Equality brings synergy and is good for overall brand health.

Mind your Investments but DO NOT Choose Discounted

Almost all the start-up brands of the world follow a skewed pricing which is a good decision in terms of investments made. When you are yet to test your brand, you must tread slowly.

For the same, follow a prioritized approach instead of asking for too many discounts or going cheap. Many-a-times, start-ups opt for cheaper options available, be it design, print or websites.

One of our clients actually ends up designing their own logo in MS-word and then went on for redesign in 2 months. Such situations end up terribly and are a major brand loss.  Like I mentioned in ‘myopic idea’, Mr.X also suffered because of the discounts on a myopic idea so the execution suffers right from the ground work. One shall not over-spend but to explain the basic idea and to make it appealing to the customers, you need a basic investment, brands which hop too much on the cheaper/discounted options end up changing the idea or launch it with too many compromises.

Partners/ Associates can Make or Break the Brand

When we are starting-up, naturally we tend to seek partners, associates to make the journey smooth and successful. Those who choose to run along alone need right mentors.

This is important for Brands and their success. Like a business, a brand needs right mentors with right energy and spirit. Many will be interested in your idea and would offer to join in as a parallel path for them. This is alright if they are really investing their time for your brand and adding value to it. Before you welcome a partner, it is crucial to check their potential and the interest level in your brand.

Start-ups are a fancy. Everyone welcomes an idea and wants to be a part of it. But for a start-up brand, interest is not enough, passion is what we need.