No, you're not going to remodel the kitchen in your startup. This is an analogy. You see, when you renovate your house to increase its value, there are two areas most recommended: the kitchen and the bathroom. Doing this adds the greatest increase to a home's value.
Is it out of the question to think that design could be the equivalent to increasing a startup? Not unlikely. I was at a pitch competition last month and all of the judges made comments on the design of the winning team's slides. How well they flowed, the ease of reading information, and the personality they added. There were other participants that had ideas just as good as theirs, but good design made them win.
Furthermore, in comparison to other things startups might do to increase their value, design isn't that expensive. A solo freelancer can make a run-down, scrappy startup look like it is worth millions for under $30,000. If it results in the recoup of millions in fundraising, that sounds like a drop in the bucket.
Here's the thing: if you're looking to tremendously increase the value of your startup, you might want to consider design as a starting point.
This is the fourth article in a small series of punches surrounding April Dunford's Obviously Awesome! and how good positioning relates to good branding. Please read the first article, second article, and third article, before jumping into this one.
You know what the alternatives are, you know the special things that your startup unique, and you've established what makes that valuable. All of these are great, but fall to pieces if no one buys.
The first approach most startups will take in finding customers is shotgunning any and every kind of market. Decent plan of action if you have time to experiment. Truth is, hardly anyone is capable of making this happen effectively, especially when concerned with time. It makes sense to be hyper-focused and test with less variables that you can either pursue further or pivot away from.
Because you need to communicate and trigger a response from someone who cares. Someone who feels that the solution you bring to the table is worth more than the dollars they will pay for it.
How do you do that? You think about them and craft messages around them that fit within their lifestyle.
What kind of person are they? Where do they work? What do they do for fun? What about their life sucks that they want to fix? Your goal is to get to know someone and find out if the solution you provide is of use to them. If not, it might be time to switch.
Tactically, you can do this with interviews within a particular segment or you can think of aspirational personas. The point is to have someone to make stuff for and be targeted. You're chances of hitting something become a lot higher if you know what you're aiming for.
A buddy of mine and I have started looking for apartments to rent. Scammers have been rampant, so we're extra cautious.
One realtor had sent my friend an application, his license number, and lease agreements. My buddy sent them to me asking, "is this legit?"
I could see where he was suspicious. The design of the application was shotty and it made his ears perk up. It was a lot of small things like misaligned typography, no consistency in colors, no logo for the company, no footer. Not only from a design perspective, but things like not have a dedicated domain for this company and instead using a Gmail address made this entire experience feel scammy.
Despite the fact that he did indeed have a license number, his brand and legitimacy were being put to death by a thousand tiny cuts. Small wounds that bled his company of its worth and value.
Point being, the small interactions are where you get a chance to prove yourself as something legit and unique. Never underestimate them.