Ben and I will both admit that we could find a way to spend money on anything. It’s our weakness, and we know it. Several ventures we have been involved with in the past were characterized by spending money in ways that did not bring value to the project. It’s not that we were reckless, we were just a little loose with the checkbook. It’s important to admit mistakes, and we’ve learned from them.
Knowing how to spend money is important, but knowing how not to spend money is critical to success for the early stage venture. Additionally, knowing what you don’t have to spend money on is also important; knowing your skill set can help you save tons of money. We learned this lesson yesterday with an important part of our granola project: brand identity.
We know that we need a trustworthy, attractive, and impactful brand for our granola product. Neither Ben nor I claim to be excellent graphic artists or creative geniuses. However, I know my way around Adobe Photoshop and have found a little success in creating attractive websites.
Yesterday, I launched a search for the right brand identity partner. I thought we should spend some money, bring in some professionals, and do the brand the right way. Ben quickly brought me back down to earth: “No, this is the fun part, solving problems.”
So I loaded up with some coffee, Estima Blend from Starbucks, and launched Photoshop. A couple of hours later, a brand emerged. Impact Foods, a Dare To Give company, launching a gourmet granola product, Winter 2009.
Challenge yourself: do you really have to go hire the professionals to bring you closer to launching your startup? Do you really have to bring in consultants to find ways to boost sales? Do you really have to pay an identity firm to get your brand up and running? I’m not doubting the abilities of these firms, I’m just asking you, do you really need it? Right now? For that much money?
- Blaine
