15 Feb Change through Start Ups
‘Change’ is never an easy thing to do.
Our bodies and minds rely on the 6 C’s to drive Dopamine into our body to make us ‘happy’ and release our stress and anxiety. 2 of the ‘C’s include ‘Certainty‘ and ‘Control‘. So if we have to change anything in our lives, then our negative mind kicks in and predicts failure (see the ‘failure’ School of Life workshop) and hardship that comes with it. We tell ourselves: “You should not do it” or “you should stick to what you have been doing”.
Melville Marketing Solutions (MMS) helps to drive ‘change’ through building Brand Resilience with individuals, teams and organisations – work and outside work. This includes the Start Up business world.
Business failure is the norm:
Business failure stats: US Publisher sector – success rate is: 0.01%
Books submitted to US publishers per year: 3.5 million
Books published by the six large publishers: 4,500
Authors in the US who can live solely off their earnings: 500
Business failure stats: EU Businesses
Businesses that fail in their first year of operation in the EU: 89%
Source: School of Life
MMS has witnessed first hand, running its own business and working with companies at different stages and levels in their journey. As a specialist, MMS uses Marketing and Branding techniques to give insight to identify the opportunities and challenges.
In 2015 MMS was hired by Bink, a start up in the customer loyalty sector. The problem identified was that as customers we don’t fully benefit from our spend with companies especially those with ‘loyalty reward schemes‘. The loyalty reward sector is too complicated, slow digital pick up and most of the companies that we spend with have a separate loyalty scheme.
What is Bink?
Bink is a digital app that connects customers and brands. Customers can aggregate, track and use their points in one easy place (mobiles). In contrast, brands can retain and find new customers as well as up-sell their products and services.
In 2015, Bink was in pure start up mode: great idea, creative and inspirational founders and in need of funds. Bink hired MMS to carry out various projects:
- Research – identify the relevant facts and feedback to ensure that it was a good concept; and find the opportunities and challengers. MMS ran individual research and managed a research agency.
- Strategy – review the marketing and business strategy for short and longer term.
- Funding – identify and contact potential investors and business partners.
MMS is pleased to say that Bink has grown and moving in the right direction. There have been contrasting lows, as well as highs, rather like our own life journeys. Above all when you are on a high, it is time to take a moment to enjoy it and celebrate with yourself and those around you.
Well done Bink!
If you want to talk more about this or anything else, please don’t hesitate to get in touch.