The Chief Executive Officer of FourthCanvas, Victor Fatanmi, has advised Small and Medium-scale Enterprises to adopt branding, saying this will make their businesses stand out among others across the globe.
He also advised that a brand should have a personality, and sets of tools that will make the business to stand out and make its impact.
“In embarking on a business plan, there is the need to plan in such a way that the business will stand out from other businesses that are doing the same thing with you. To make a business stand out from the crowd has to do with branding,” Fatanmi said.
He noted that branding should begin with research on the target audience of the business, adding that other attributes to having a good brand had to do with keeping the brand simple, keeping it smart, stating true, consistency and prioritising the brand.
The Chief Executive Officer of Westfield Consulting, Oyeyinka Banjo, said the growth of start-up companies was dependent on team work.
She said working as a team would generate coordinated efforts, which allowed each member to maximise their strengths and minimise their weaknesses.
Banjo advised that sharing of ideas as a team speeds the growth of a start-up, while working alone slows the development of a company.
She added that start-ups could avoid costly mistakes more quickly with the accountability and responsibility that working as a team provides, “because each team member has a specific role to play in the development of the company.”