I have been involved with Maine Startup and Create Week for the past four years. After three years of increasing my volunteer-driven participation I had to scale back this year, as I focused on launching my DIY branding software: Branding Compass. The week did not disappoint and it inspired me as usual.
Here are my four, somewhat random, take aways.
When you’re trying to find investors or make early sales for your tech startup, getting people to understand your new offering is key.
The essence of new, tech-based products and services is that they are original and based on some sort of technology. Therefore, by their own making, they can be difficult to explain.
If no one understands what your new product or service does, or the problem it solves, they won’t be interested.
Here are three ways to overcome the potential pitfalls of pitching your tech startup.
80% of people are going to hate your rebrand because it’s change. The question is, are you willing to sell it?
It’s a great reminder. Even if your logo is beautiful and professionally-designed, if there is compelling reason why you need to rebrand—for example your brand identity is not accurately expressing how your want to portray your business—you need to ignore the initial backlash and find an identity that you know will work for your brand.
This week is Maine Startup and Create Week. Whenever you gather together business owners and aspiring entrepreneurs, you hear a lot “why I started my business” stories.
But often missing from these tales is why anyone else should care.
In Portland, Maine I am involved with several groups that help businesses grow.
One that runs a bit under the radar is House of Genius. These monthly sessions are closed to the public to protect the confidentiality of the entrepreneurs, but as part of the organizing team, I get to see all the business owners present themselves. Each entrepreneur has 5 minutes to give background information about their company and ask for help with a specific issue they are having.
It has been eye-opening for me to see how many entrepreneurs struggle to distill makes their product or service unique. Many have trouble quickly tell the story of why their business is important in the marketplace.