Brand Your Startup for Success in 5 Steps

About 476,000 new businesses are created each month according to reports. Many will struggle during the first few years -- and half will fail.

On the other hand, half will succeed.

Knowing what separates those that bottom out from those that bubble up is what can make the difference in the health and longevity of a startup. A solid, defined brand -- the driving force within a company and the promise to its customers that both moves the business forward and keeps it on track -- is essential to a business’s success.

But it’s not as easy as it sounds. “We’re going to be green.” “We’re going to be the company that cares.” “We’re going to be luxury.” There are 30 million companies in the U.S. alone -- each one with its own brand. How do you find a place for your new business in all this? How do people recognize you through all this chatter?

While each brand is different, there's a similar path that successful companies take to find their place.

1. Clearly define your business idea

You need to have a clear place in the market. Think about what makes your product or service different versus others in the marketplace. Once clear on what you offer and where you'll play, focus on how you can do it in a superior way.

Cinnabon started in 1985 with a very clear idea -- become “the world's best cinnamon roll." Now they're a global phenomenon.

It all starts with a clear business idea and a compelling, superior offering.

2. Have an 'ideal' for your business

Successful brands are typically fueled by a bigger vision or ideal other than financial success. An ideal serves as a guidepost that will keep your business on track and help it become a brand rather than another product. This will help establish a solid loyalty with like-minded customers. To find this for your business, fill in the blank: “We exist to_______."

3. Identify your target

Your product won’t appeal to all consumers in the marketplace, and it can be very expensive to try to do so. A well-defined target will help you build a better product and come up with better ideas. Create a vivid picture of your ideal target consumer, and focus your efforts on them.

4. Understand your business’s math

You need to understand the basic math that determines how viable your business can be. You should be able to answer simple questions such as: "How much does it cost to produce the product?", "How much do I need to sell it for?" and "How long will it take to pay out?" A successful business is one that creates value and generates profit.

5. Have a plan

Draw up a brand plan -- a physical document that describes what you want your brand to stand for, what you'll offer, which customers you want to attract, how you'll reach them, how you'll make money (this is your business model) and how you'll measure success.

This not only brings discipline to your business endeavor, but also becomes the business plan to share with potential investors down the road.

Remember that creating a brand is a lot like interactions with people: We become acquainted, we try their goods or services, we decide whether we like them or not, and then we begin to have -- or not have -- a longer, deeper and more profitable relationship. 

Movies That Inspire Entrepreneurship

1. Startup.com

This 2001 documentary follows the rise and fall of a promising startup called GoveWorks.com. Despite a lot of buzz and funding for the company, the founders must deal with in-house bickering and getting too inflated too fast.

Why watch it? There are many takeaways from this documentary. For starters, it illustrates just how detrimental it can be when partners aren’t on the same page. Another lesson learned is how to properly manage a budget after you’ve secured funding.

2. Flash of Genius

Greg Kinnear portrays Bob Kearns, the inventor if intermittent windshield wipers. Despite the Detroit automakers embracing the idea, Kearns nevers receives credit. The rest of the film chronicles his battle against these corporate heavyweights.

Why watch it? Having an important idea that can enhance the lives of others, which Kearns accomplished, is important enough where it’s not just about receiving fame and fortune, it’s also important to remember to protect your idea and intellectual property.

3. Gosford Park

Robert Altman’s 2001 murder mystery may not some like an obvious choice, but it’s an extremely entertaining film that will keep you on the edge of your seat. But, most importantly…

Why watch it? Making people happy, like having outstanding customer service, is a crucial part of any business. Helen Mirren’s Mr.s Wilson states this perfectly: “What gift do you think a good servant has that separates them from the others? Its the gift of anticipation. And I’m a good servant; I’m better than good, I’m the best; I’m the perfect servant. I know when they’ll be hungry, and the food is ready. I know when they’ll be tired, and the bed is turned down. I know it before they know it themselves.”

4. Steve Jobs: One Last Thing

PBS released this documentary shortly after the passing of Steve Jobs in 2011. It captures both the highs and lows of one of the most influential entrepreneurs ever.

Why watch it? You can never learn enough from the life and career of Steve Jobs.

5. The Godfather

Here’s another film that everyone should view at least once. Francis Ford Coppola’s 1972 masterpiece is arguably one of the greatest films in cinema history.

Why watch it? For a moment, forget the fact that this is a movie about organized crime. Instead, learn how Michael Corleone (Al Pacino) took a small family business and transformed it into one of the most powerful and influential families in the country. The Godfather perfectly illustrates what it take to get the top, and how to remain there.

6. Risky Business
In 1983, Tom Cruise became a pop-culture icon after sliding across the floor in a pair of socks and button-down shirt. While he’s a good time enjoying the place to himself (literally), things get out of hand after he wrecks his father’s Porsche.

Why watch it? Cruise’s character Joel has to think quickly on how to raise some cash to fix the car. Sometimes the best ideas are formed when we’re desperate.

7. Beer Wars

This 2009 documentary follows a group of friends trying to take on the major breweries by launching their own craft beer company.

Why watch it? It’s challenging to succeed when jumping into an established market. However, educating your audience on how much better your product is than the competition is a valuable lesson we learned from Beer Wars.

8. Up in the Air

Both George Clooney and Anna Kendrick were phenomenal in 2009’s Up in the Air. The film focuses on Ryan Bingham, who is hired to travel across the country and lay people off. Kendrick plays Natalie Keener, the nob who is trying to change this tactic through technology.

Why watch it? Clooney’s character is not only efficient, he is also driven by a goal that doesn’t involve giving people the axe. However, the main lesson from Up in the Air is that sometimes it’s best to understand a business model before tinkering with it, which is what Kendrick’s character discovers.

9. Session 9
In this 2001 horror/mystery, an entrepreneur in the asbestos removing business takes a questionable job in an abandoned mental hospital. And, this is where the crew, led by Phil (David Caruso) run into some chilling and frightening events.

Why watch it? Sometimes, even if the money is good, you just can’t accept certain offers.

10.  Call of the Entrepreneur

This inspiring 2007 documentary follows three driver men; a merchant banker, a failing dairy farmer and a refugee from Communist China.

Why watch it? It doesn’t get any more uplifting than watching these three different men from different parts of the world risk everything  to follow their dreams. If they can do it, why can’t you?

11. Cocktail

We know. Another Tom Cruise flick! But, what can we say? This is a guilty pleasure from 1988 that follows young Brian Flanagan and his journey in opening up his very own bar – despite all the bumps in the road.

Why watch it? For starters, it’s just fun. But, as an entrepreneur there’s a lot to love about Cocktail. For starters, Flanagan tries to go by the books, taking business classes and reading guides on how-to-start a successful business. But the real lessons that he learns is from actually getting behind the bar and learning what customers and how to become the best bartender in town. He also has a mentor who isn’t afraid to show Flanagan the tricks of the trade, as well as how cutthroat the real world can be.

12. October Sky

Homer Hickman, played by Jake Gyllenhaal, and his friends are inspired to start building their own rockets after the successful launch of Sputnik. Unfortunately, they don’t have the support of their hometown since it’s expected of the young men to become coalminers. With passion and the assistance of a teacher (Laura Dern) they reach for the stars.

Why watch it? Always chase your dreams, no matter what you’re destined for. And, you can never go wrong with a mentor you can help you give you that little push.

13. Tommy Boy

After losing his father, Tommy Callahan (Chris Farley) and a reluctant employee (David Spade) set out on a road trip to save the family business. Of course, hijinks ensue, but there’s a lot of inspiration in Tommy Boy as well.

Why watch it? Tommy never gives up, no matter how difficult times get. Even when all hope seems gone, he discovers his inner salesman and figures out how to save the day. You’ll find that being an Entrepreneur you’ll want to give up all the time.  Don’t do it.  Keep going!

14. Something Ventured

Something Ventured is a 2011 documentary that is from the perspective of Silicon Valley venture capitalist.

Why watch it? Understanding the thought-process of VC’s can be a useful card-up-your-sleeve when searching for funding.

15. Boiler Room

You could say that this is an updated version of Wall Street, meaning that it shows the extremes people will go to to make a fortune – especially when it comes to the stock market. By the end of the film, however Seth Davis (Giovanni Ribisi) discovers that making a fortune at the expense of other’s hard-earned money is no way to live life.

Why watch it? Again, money isn’t the only thing in life, and Boiler Room proves that succeeding financially isn’t the end-all-be-all. However, Boiler Room also shows how you can unleash your inner salesperson when your driver by a goal. And, the film also displays how powerful a passionate leader can be, just watch Ben Affleck round-up the troops (warning NSFW).

Any other inspirational movies that should be added to this list?

A Wise Man will Ask these Questions

Chanakya says “How is this situation, who are my real friends, how is my home’s condition, what’s my earnings and expenditure, what are my talents and weaknesses. These are the questions that a wise man asks himself all the time“.

Those lines from chapter 4 of Chanakya Neeti tells us to think about the outcome before doing anything. You can try the other way, but in that case you won’t reach too far.

Relation Between Your Desires and Your Situation:
It’s good to desire and desires definitely add to the worthiness of your life. The problem arises when your desires and the situation are a mismatch. For example: It is perfectly normal for a billionaire to plan an expensive vacation, but not for a man living on daily wages and without enough savings.

For sure the non-wealthy man has all rights to have such desires. It’s all about waiting for the situation to turn favorable or creating the favorable environment with own efforts. Without any question the second option is more appropriate. Most of the things can be achieved by mixing hard work with smart work. Hard-work alone, might prove insufficient.
 
# Hard work is necessary, but it must also be a smart work. Abraham Lincoln said that “Give me six hours to chop down a tree and I will spend the first four sharpening the axe“. Hopefully, you got the point.

Real friends:
It’s a boon to have a true friend in life. The ugly and basic truth is that most of the people in this competitive world envy you. Those who fall in same hierarchy are the ones who envy most.

Everyone tries to excel high in life, but at the same time they (most of them) are ever-ready to pull the leg of anyone trying to do so. A man must have discretion to identify people and their motives.

Also, there are men who promise to help and also there are a few who will really help. The biggest mistake one can do is to depend on help from someone who has nothing more than a promise to offer. I have made such mistakes and most probably you are not an exception.
 
# Help from others should be considered as an added benefit. You are the only person on whom you can rely most.

* Most of the help is available in the form of mutual benefits. If you don’t have anything better to offer, then why should someone offer you anything? There is a great difference between being good to others and in being useful to others.
If you don’t have a real friend?

If you don’t have one, then nothing much can be done about it. Either you have them or you don’t. Maybe you will get one in the future. At least you can try to maximize the number of your friends (with benefits). In addition to that, you must also work towards reducing the count of your opponents.

* I never asked you to make everyone happy. This goal is second to impossible and usually leads to wastage of efforts, resources, and energy.

Self Evaluation:

It’s very difficult to perform an honest self-evaluation. Most of the times we either overestimate our potential or underestimate it. No one can judge you better than yourself. Do not allow the external factors to guide you.

* Just don’t walk like a sheep following the sheep in front of you.

It’s your duty to:

•     Identify your area or areas of expertise.
•     Evaluate your level of expertise in those areas.
•     Prepare the list of improvements to be done.
•     And to Improve in reality.

* Not your skills, but what matters most are your accomplishments. History  remembers men with great deeds, not those with great skills. Acquisition of skills is important, but is an intermediate step towards achieving something big.
The Time:

Improvement requires a certain amount of time. The required span of time will vary depending on what you are trying to accomplish. The results might not be instantaneous, but provided you do it with proper planning and dedication the situation will change for sure.

For example: There was a time when I had no knowledge about PHP and after a year people were asking about my opinion. The improvements made per day were really insignificant, but it’s really huge in comparison to day-one and today.

The summary:

•     Have high expectations from life.
•     Identify your strengths and weaknesses.
•     Improve yourself and your skills.
•     Fulfill your dreams by doing hard work in a smart manner.

Little Brief About Chanakya :

Chanakya (350 – 275 BCE) was an Indian teacher, philosopher, and royal advisor.

Originally a professor of economics and political science at the ancient Takshashila University, Chanakya managed the first Maurya emperor Chandragupta's rise to power at a young age. He is widely credited for having played an important role in the establishment of the Maurya Empire, which was the first empire in archaeologically recorded history to rule most of the Indian subcontinent.