Why Should You Try To Make Your Startup Look Bigger?
In the US, about 20 percent of startups do not survive their first year and only a little more than half, about 56%, make it past the fourth year. Considering your life’s work and savings may be on the line, these do not seem like encouraging numbers. You may even balk at spending much on marketing and branding since these don’t necessarily bring a direct return that you could immediately observe, which may make you feel like you’re throwing money away.
However, there are good arguments to be made for taking the effort to make your business appear bigger than it is. Here are some reasons why you’d want to invest money in making your startup look like the size you want it to be.
1.) It implies stability
Most people just instinctively feel that larger organizations are more stable, even if this doesn’t always logically follow. This may mean that clients may be more willing to enter into longer-term relationships with you because they don’t see you going away all of a sudden. This can be especially important early on in your startup when you’re trying to get a decent cash flow started.
2.) Size implies professionalism
This definitely doesn’t follow either but there’s just something about bigger organizations seeming more professional. At the very least, there is an expectation that larger businesses will conduct things more professionally. Working backward, a professional business may possibly be large as well.
Of course, we know that those arguments that don’t make logical sense. Nevertheless, people are more willing to deal with businesses that exude professionalism, which means looking big (and professional) is worth exploring.
3.) It suggests you’ve had past successes
Some businesses just have large capitalization, perhaps thanks to angel investors or perhaps a loan from a mom and dad. This doesn’t always mean that they are successful. In any case, larger businesses do seem to be more successful as far as most people are concerned, which can do a lot to build confidence.
By appearing bigger, a small business with deft branding can look like it’s had years of success behind it, which can make it seem that they’re a better choice. If you can back up your branding with a great product or service, then there’s no reason you should feel bad about looking a bit more successful than you really are.
4.) Most people are drawn to better-known brands
People go with what they know. If they know your startup and can feel confident about it, then most of their journey towards becoming a regular customer is already through. All you have left to do is to give them a reason to buy.
5.) It gives you a fighting chance in today’s crowded startup scene
Everyone seems to be creating a startup these days. With the means to starting and running a business being more accessible than it’s ever been in history, you’ll need to have something extra to distinguish yourself from the crowd. In many cases, a larger-than-life brand may just be what’s needed to take a smaller business to the next stage of its development.
There are lots of reasons to invest in your brand but taking it to the next level by making the market believe it’s bigger than it is one of the most important. If you’re ready to start developing your brand, 500 Designs offers a wide selection of branding and marketing services that will take your startup where you need it to be.
