EP4.
Simon discusses the importance of brand for early-stage startups, emphasising that brand is about the idea or concept a company is trying to bring to the world, not just the visual identity. He shares three key principles: 1) Startups should aim to be a brand in their customers' industry, not just a tech company; 2) Positioning and messaging are 80% of the job in the early stages, with brand being 20%; and 3) Brand should drive business decisions, not just be an afterthought.
Simon defines brand as the idea or concept a company is trying to bring to the world, which manifests through visual identity, behaviours/actions, and positioning. He emphasizes the importance of customer-centric positioning that clearly explains the unique value proposition.
Simon shares an example of how Retail Express, a point-of-sale software company, rebranded to better reflect the world of its independent retail customers by making the website and visuals feel more like an independent retail store.
Simon discusses how Timely, a booking engine company, rebranded to better reflect the hair and beauty industry it serves, changing its visual identity and behaviors to feel more like a brand in that world.
Simon explains how Glo (previously PayLeader) rebranded to better serve its beauty industry customers, changing its name and positioning to focus on providing membership programs that improve the financial lives of beauty business owners.
Simon outlines a process for startups to develop a simple, essential "brand set" that captures the key elements of their unique value proposition, brand idea, and how they will bring that to life. He offers to create an interactive tool to help startups go through this process.