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Start-up Brand Stamina

By: Karen Post
Sleepless nights, a staff of three to do the work of 20, and the doubters -- will all test your will to survive the start-up game.

I suppose if it were easy, every person with a brain would be doing it. Start-ups require lots more than possession of a brain. They require an uncanny drive, a fearless spirit, a sense of humor and thick skin.

In my last column, I introduced you to my new start-up company and brand, Oddpodz.com. I promised uncoated truth, lessons learned, and wisdom earned.

When my column posted, a blog entry on FastCompany.com appeared with the question posed, "Do brands matter when you are a start-up?" Here's what I think.

Absolutely, brands matter at any stage in business.
Your company brand may be a mere seed in the beginning, but the day you open your doors for business, you've got at least two brands, 1) your start-up business brand, and 2) your personal brand, both equally as important.

Let's start with your personal brand.
Will a serious vendor give you the time of day, when you are a small potato with little much volume? Will your friends write angel-funding checks without a proven concept? Can you recruit great staff with no office and no benefit plan? Probably not -- unless your personal brand is rock solid.

I did the math and decided that in order to jumpstart Oddpodz, we would need to raise $500,000. Without my business partner and my personal brands, fundraising would have been an impossible task. Start-ups are high risk, in most cases, and have no track record -- it's all about the founder's personal brand, everyone is betting on you.

Make your personal brand a daily project way before you dive into the start-up pool. Here are a few basic disciplines that helped us.

Be an expert.
Whether these are academic credentials or life achievements, have your story down, both in written form and be able to quickly articulate it in conversion.

Package yourself, look like a trusted leader.
You never know when you will encounter an opportunity. I was on an airplane and sat next to a businessperson, who ended up becoming an investor in my company. If I would have looked like a travel bum, instead of a successful businesswoman things may have ended up differently.

Don't over promise. But do deliver on promises.
When you tell someone you are going to do something, do it or don't promise. Commitments honored, big or small add a lot of integrity equity to your personal brand.

We were fortunate that it only took us about 90 days to meet our early stage funding needs. Raising money can take a toll on your esteem, it takes time and the act of asking for money can be uncomfortable to many. If this is the case, yell at yourself and say, "you are not begging on the street with a tin can, you have created something awesome and you are enrolling a few lucky, qualified investors to be apart of it and share in the prize."

Every time you make an investor deposit, it feels great and it should. That's a major accomplishment that goes on your milestone poster. My poster is hanging on my office wall. I see it everyday and when I'm feeling the heat of stress I read it out loud and remind myself of the positive goals I've met. This is an important exercise. Because the pressure picks up when you have other people's money in your deal.

From Issue | October 2006

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