The MVB: Why every startup needs one

In the fast-paced world of startups, where innovation and agility reign supreme, the notion of building a brand may seem like an unnecessary luxury that can wait until the product or service is ready for market. After all, isn't a minimum viable product (MVP) enough to kick-start success of a Lean Startup? However, overlooking the importance of a minimum viable brand (MVB) can be a critical mistake and a missed opportunity. In this article, I explore why every early-stage startup needs to prioritise brand building from the start.

If you are an entrepreneur or a founder of an early stage startup, you will be familiar with the concept of a minimum viable product (MVP). An MVP is the most basic version of your product that you can release and receive feedback on. It’s functional, but it doesn’t have all the features and functionalities that you envision for the final version. But have you ever thought about your minimum viable brand (MVB)?

A Minimum Viable Brand (MVB) is the foundational representation of a startup's essence, values, identity, and unique value proposition, communicated through consistent brand elements and messaging. It’s not just a logo or a name, but a strategic foundation that guides the product development, marketing, and customer experience.

The Illusion of Irrelevance

In the early days of a startup, founders commonly prioritise product development and customer acquisition, leaving brand building as an afterthought. They believe that branding is only necessary when they have a substantial customer base or a sizable marketing budget. However, this narrow perspective overlooks the power of a strong brand to create differentiation and establish an emotional connection with potential customers, even at the early stages of development. Founders routinely underestimate the value of a brand due to a series of misconceptions.

• Limited Resources: Founders believe that in the early stages, their limited resources are better allocated to product development and customer acqusition. They also mistakenly associate branding with logo design and visual elements, dismissing it as unnecessary in the early, pre-product-market-fit days. Consequently, they choose to focus on product development and forego brand development.
• Early Adopters Will Come Regardless: Another common belief is that a groundbreaking product or service will automatically attract early adopters, making branding irrelevant. The assumption is that customers will flock to the startup solely based on the product's merit and innovative features.
• Flexibility and Iteration: Startups often prioritise agility and the ability to pivot quickly. They believe that branding might restrict their freedom to adapt and evolve their business model, as branding decisions are perceived as more permanent and less malleable.

Connecting with Your Audience

While startups may have a brilliant product or service, they often struggle to communicate their unique value proposition effectively. This is where an MVB comes into play. It serves as a guiding compass, helping startups craft a clear and compelling narrative that resonates with their target audience. By defining the brand's personality, values, and tone of voice, an MVB enables startups to connect on a deeper level with their customers, fostering trust and loyalty from the outset.

Building Credibility and Trust

In a competitive market, trust is a valuable currency. Establishing a credible brand identity can make or break a startup's success. An MVB enhances a startup's credibility by conveying professionalism, expertise, and reliability. Through thoughtful design, consistent messaging, and a cohesive visual identity, startups can instill confidence in their potential customers, investors, and partners, gaining a competitive edge in a crowded marketplace.

Even in the B2B realm, where relationships and rational decision-making often prevail, a compelling brand is essential as it builds trust, establishes credibility, and facilitates meaningful connections between businesses, paving the way for long-term partnerships and differentiation in a competitive landscape.

Guiding Decision-Making and Growth

Startups face numerous decisions as they grow, from product enhancements to expanding their target market. An MVB serves as a strategic roadmap, aligning all stakeholders around a shared vision and purpose. It provides clarity during decision-making processes, ensuring that every action taken is in line with the startup's core values and desired brand experience. This, in turn, helps maintain consistency and fosters long-term growth.

Creating your minimum viable brand

1. Start with your?brand essence. This is the core of your brand, the one thing that defines who you are, what you stand for and why you exist. It captures your core belief, purpose, mission and vision.
2. Define your?brand values and personality. These are the beliefs and principles that guide your actions and decisions as a brand. They reflect what matters to you and what you stand for as a brand. They also help you attract and retain like-minded customers and employees. This, together with the brand essence forms your identity as a brand.
3. Identify your?target audience. These are the people you seek to engage with your brand, the ones who will benefit from your product or service. You need to know who they are, what they need, what they want, and how they behave. You can use tools like personas, segments, or jobs-to-be-done to create a clear picture of your ideal customers.
4. Determine your?key differentiators. These are the things that set you apart from your competitors, the reasons why customers should choose you over them. They can be related to your product features, benefits, quality, price, or customer service. They should be relevant, credible, and sustainable. This, together with your target audience forms your positioning in the market.

Once you have created your MVB you can start building it out, as you grow as a business and a brand. The next step is to design and nurture your?overarching experience. This is the sum of all the interactions that customers have with your brand across different touchpoints and channels. It’s how you deliver on your promise and create value for your customers. It should be consistent, memorable, and delightful.

And finally: Your?logo, look, and lines. These are the visual and verbal elements that represent your brand identity and positioning to the outside world. They include your logo, color palette, fonts, shapes, images, tone of voice, tagline, slogan, etc. They should be aligned with your brand essence, values, audience, differentiators, and experience. But, they are not your brand.

Of course, creating an MVB is not a one-time event, but an ongoing process that evolves as you learn more about your market and customers. You should always be open to feedback and experimentation to refine and improve your brand identity. An MVB is not a shortcut or a compromise for building a strong brand. It’s a smart and strategic way to start with the essentials and grow from there.