Knowing how great your business is and everything it has to offer won’t help you receive the business funding you need. It isn’t you that you are trying to convince, it’s the lender or investor. Following these four branding steps will help you build your brand and tell a brand story they won’t be able to refuse:
Step 1: Define What Your Business Represents
The first step in branding is to identify and define what your business represents. Your whole team should be apart of the task of answering important branding questions. If you’re a one-person show, ask those close to you (mentor, friends, family, etc.) their thoughts and ideas on who you are as a business. Having multiple perspectives will ensure nothing is over looked. Consider the following list of branding questions:
- Who are you?
- Who is your audience?
- What makes you different than other brands?
- What do you stand for?
- What is your mission/purpose?
- What is your customers main problem/concern?
- How does your product/service solve that problem/concern?
- What makes you unique?
Step 2: Develop Your Brand Identity
Once you’ve nailed down your brand identity, it’s time to develop that brand identity. This involves creating a design. Incredibly important to get right, your design – your logo – says more about your brand identity than words ever could. As you design your logo, make sure it is memorable, simple and unique.
If you’re not sure about every detail, don’t worry. It isn’t necessary to have every single detail written down right way. Branding is an evolving process. Just make sure you begin thinking about the different design elements: typography, shapes, color palette and a brand voice.
Step 3: Create a Visual
The next step is to create a good visual. It doesn’t have to be perfect, and doesn’t have to be pretty. But you do need to tell your brand story in a visual way that is impactful and pulls at heart strings. You need to be able to communicate a full range of emotions: worry over the problems/concerns your customers are dealing with, excitement that you know how to solve those problems/concerns, and intrigue about your strategy that details how to get there. All in all, your visual should bring all your data to life.
Step 4: Seek a Flexible Financing Solution
There are many options available for small businesses when it comes to business funding. However, not every option will be ideal. Depending on your business type and industry, working with traditional lending sources and banks may be difficult; they might consider your industry “too risky” and turn you away. Even if you have a strong brand identity and voice, you could still be turned down.
If this happens, don’t despair. Many business owners in this situation turn to alternative lenders like First American Merchant. FAM is a high-risk specialist with years of experience in working with businesses otherwise categorized as “high risk”. Their high-risk business loans provide you with fast, flexible business funding. When researching business financing options, just be sure it will position your business, your brand, for success.