Brand building in startups best practices and influence on angel investor decision-making

Startup-yritykset ovat tärkeitä uusien työpaikkojen ja innovaatioiden synnyttäjiä. Monet niistä kuitenkin kaatuvat ennen merkittävän kasvun saavuttamista. Syitä epäonnistumisen on monia, mutta vahvan yritysbrändin on osoitettu suojelevan niistä usealta. Mahdollisista hyödyistä huolimatta useat start...

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Bibliographic Details
Main Author: Reuter, Aapo
Other Authors: Kauppakorkeakoulu, School of Business and Economics, Taloustieteet, Business and Economics, Jyväskylän yliopisto, University of Jyväskylä
Format: Master's thesis
Language:eng
Published: 2020
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/69670
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author Reuter, Aapo
author2 Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_facet Reuter, Aapo Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä Reuter, Aapo Kauppakorkeakoulu School of Business and Economics Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
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description Startup-yritykset ovat tärkeitä uusien työpaikkojen ja innovaatioiden synnyttäjiä. Monet niistä kuitenkin kaatuvat ennen merkittävän kasvun saavuttamista. Syitä epäonnistumisen on monia, mutta vahvan yritysbrändin on osoitettu suojelevan niistä usealta. Mahdollisista hyödyistä huolimatta useat startup-yrittäjät eivät rakenna brändejään, koska heiltä puuttuu tarvittava tieto tehokkaaseen brändin rakentamiseen pienellä budjetilla. Useat tutkimukset pienyritysten brändin rakentamisesta ovat sekä osoittaneet tarvetta jatkotutkimukselle että peräänkuuluttaneet käytännön ohjeistusten laatimista. Tämä tutkimus vastaa tarpeeseen kuvailemalla yritysbrändin rakentamisen parhaita käytänteitä startup-yrityksissä. Se myös osoittaa, että vahva yritysbrändi vaikuttaa positiivisesti enkelisijoittajien intuitiiviseen päätöksentekoon ja siten auttaa startupeja pääoman keräämisessä. Tutkimuksen aineisto kerättiin sekä kirjallisuuskatsauksella että laadullisella tapaustutkimuksella, jossa haastateltiin kuutta markkinoinnin ammattilaista, kahta startup-yrittäjää sekä kahta enkelisijoittajaa. Tulokset osoittavat että ottamalla kokonaisvaltaisen otteen brändin rakentamiseen ja seuraamalla tässä tutkimuksessa kuvattuja periaatteita, startup-yritykset pystyvät rakentamaan yritysbrändiään käyttämällä rahan sijaan luovuutta ja aikaa. Tutkimus osoittaa myös, että yritysbrändi vaikuttaa enkelisijoittajien subjektiiviseen arvioon startupista suoraan mielikuvan kautta sekä epäsuorasti perustajatiimin ominaisuuksien kautta. Eheästi rakennettu yritysbrändi lisää tiimin intohimoa, uskottavuutta sekä luotettavuutta, jotka kaikki ovat enkelisijoittajien korkeasti arvostamia piirteitä. Tämä työ hyödyttää startup-yrityksiä selventämällä yritysbrändäyksen peruskäsitteitä, sekä tarjoamalla suoria neuvoja brändin rakentamiseen käytännössä. Tutkimuksen merkittävin teoreettinen kontribuutio on siinä luotu viitekehys, joka osoittaa yritysbrändin vaikutuksen enkelisijoittajan intuitiiviseen päätöksentekoon. Aiemmissa tutkimuksissa ei ole vastaavalla tavalla yhdistetty brändikirjallisuutta yritysrahoituksen tutkimukseen. Tämä tutkielma avaa tietä uudelle tutkimuksen suunnalle brändin vaikutuksesta sijoituspäätöksiin. Startup companies are important creators of new jobs and technological innovation, but too many of them fail before reaching substantial growth. The reasons for failure are many but a strong corporate brand has been shown to protect against a number of them. Despite the potential benefits, many startup founders are not building their brands because they are lacking the required knowledge for efficient brand building on a low budget. A number of previous studies about brand building in small businesses have called for the development of practical guidelines and pointed out a need for further research on the topic. The following study addresses the research gap by exploring the best practices of brand building in startups. It also demonstrates that a strong corporate brand can help startups in securing investment by positively influencing the intuitive decision-making of angel investors. The data was gathered both by reviewing the existing academic literature and through a qualitative case study in which thematic interviews were conducted with seven marketing professionals, two startup founders and two angel investors. The results suggest that by adopting a holistic approach to brand building and by following a set of basic principles described in this study, startups can build their corporate brand using creativity and time instead of money. The study also found that the corporate brand influences angel investor’s subjective evaluation of the startup directly through the corporate image and indirectly through the qualities of the founding team. A coherently built corporate brand increases the founding team’s passion, credibility, and trustworthiness, all of which are qualities highly valued by angel investors. This study benefits startups by clarifying the basic concepts of corporate branding and offering actionable advice for brand building in practice. The most significant theoretical contribution of this study is the development of the framework that demonstrates the corporate brand’s subconscious influence on angel investor’s intuitive decision-making. To the authors best knowledge, no previous attempt has been made in connecting branding literature with venture funding studies in this manner. Therefore, this study pioneered a new avenue for future research into brand’s influence on investment decisions.
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spellingShingle Reuter, Aapo Brand building in startups : best practices and influence on angel investor decision-making corporate brand brand building angel investor decision-making yritysbrändi enkelisijoittajan päätöksenteko Yrittäjyys Entrepreneurship 20422 intuitio pienet ja keskisuuret yritykset brändit brändäys yrittäjyys markkinointi liiketoiminta sijoittajat yrityskuva startup-yritykset strateginen johtaminen intuition small and medium-sized enterprises brands branding entrepreneurship marketing business investors corporate image startup companies strategic leadership
title Brand building in startups : best practices and influence on angel investor decision-making
title_full Brand building in startups : best practices and influence on angel investor decision-making
title_fullStr Brand building in startups : best practices and influence on angel investor decision-making Brand building in startups : best practices and influence on angel investor decision-making
title_full_unstemmed Brand building in startups : best practices and influence on angel investor decision-making Brand building in startups : best practices and influence on angel investor decision-making
title_short Brand building in startups
title_sort brand building in startups best practices and influence on angel investor decision making
title_sub best practices and influence on angel investor decision-making
title_txtP Brand building in startups : best practices and influence on angel investor decision-making
topic corporate brand brand building angel investor decision-making yritysbrändi enkelisijoittajan päätöksenteko Yrittäjyys Entrepreneurship 20422 intuitio pienet ja keskisuuret yritykset brändit brändäys yrittäjyys markkinointi liiketoiminta sijoittajat yrityskuva startup-yritykset strateginen johtaminen intuition small and medium-sized enterprises brands branding entrepreneurship marketing business investors corporate image startup companies strategic leadership
topic_facet 20422 Entrepreneurship Yrittäjyys angel investor decision-making brand building branding brands brändit brändäys business corporate brand corporate image enkelisijoittajan päätöksenteko entrepreneurship intuitio intuition investors liiketoiminta marketing markkinointi pienet ja keskisuuret yritykset sijoittajat small and medium-sized enterprises startup companies startup-yritykset strategic leadership strateginen johtaminen yrittäjyys yritysbrändi yrityskuva
url https://jyx.jyu.fi/handle/123456789/69670 http://www.urn.fi/URN:NBN:fi:jyu-202006033926
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