There are several steps to building your brand, and so many things run in parallel. For a young start-up, it may get difficult to know exactly where to start. We, at yellow pebble, recommend you start by answering these 10 questions right here. These will create a clear basis of what you need to build your brand on.
Start by defining yourself: Self-awareness is important for people, and even more so for a business. You should be able to define your purpose in 1-2 sentences. 3 questions that help you answer this
1. Who are you as a business?
2. What do you stand for?
3. What’s your story?
Next, clearly state your business model. Simply put, define the attributes, benefits, pricing and positioning of your product/service.
4. What value are you offering?
5. Do you want to be a value-volume player or premium?
6. What problem are you solving?
Third, understand your environment. This is critical to creating a differentiation in the market in a way that still resonates with your audience. Find the points of parity you need to maintain and the points of difference you want to create to be unique.
7. Who are you speaking to? What do they like to talk about?
8. Who are you competing with?
9. What makes you unique? How will you differentiate?
And finally, draw your future, but do it in pencil. If this succeeds, you should know where you go from here and how you plan to expand your business, via product/business model innovation or geographic expansion, or acquisitions. This is important to ensure that the brand you create doesn’t restrict your future growth.
10. Where do you see yourself (as a business) in 5-10 years?
Next up, what do you do once you have the answers to all these questions? We will give you a step-by-step walk through of building a brand in our next blog post. Until then, Au Revoir!
