Launching a startup is difficult enough on its own but during the COVID-19 pandemic, it’s even more challenging. In our latest episode of the Entrepreneurship Success Formula Series, Nexus IT Consultants’ Earl Foote sits down with Vic Gil, CEO of STRT to talk about branding and marketing strategies to help young startups thrive during the pandemic:
As CEO of STRT, Vic Gil works with plenty of new companies, providing key insight into developing products and brands. Here are a few tips he shared in this episode of the Entrepreneurship Success Formula Series:
As the leader of your startup, you have to have a high-level view of everything that’s going on. While your background may be in marketing, sales, or something specific, you can’t focus solely on that one effort; you have to balance the many parts of your organization and learn when to prioritize what.
When you know the problem you’re trying to solve, and who else is trying to solve it, you can determine what Vic calls a “position”. It’s your take in how to solve that problem, and the more you know, the more effective and valuable your position will be.
Once you know your market and your position, you can start developing your brand. Make sure to develop your brand so that there’s room to grow and pivot. As proven by Apple and Uber, the brand doesn’t have to be the product. This allows you to change as the market does.
To close, Vic noted that a silver lining of the pandemic is that there’s never been a better time to be an entrepreneur. The risk is low, and the rewards are great – so get started today.