Start-up motivation – three challenges you face
I was recently contacted by students from the University of Maastricht, as part of a seminar on founding start-up companies.
They were asked to analyse the motivation of different founders. In an interview, they asked me questions about my motivation to found Dietrich Identity 20 years ago.
Just for our new Branding-blog readers: We are a full-service brand consultancy based in Munich, Germany. Launched in 2003 as an identity consultancy start-up, we have since accompanied over 100 brands in more than 500 projects. We work on an international level by increasing corporate value through strong and authentic brand advocacy.
What led you Fridolin, to start your business?
Fridolin: I have always wanted to start-up my own company. Freedom of choice has always been an important value for me. That naturally comes in handy when you have your own company.
Were there any significant influences (people, books, tv shows, nature, etc) that shaped you before you started your business?
On my travels to southern Africa, I observed the specialty of identity-relevant features in zebras. The individual shades of colour and shape of the zebra’s stripes characterise each animal and make it unique. In addition, the stripes serve as camouflage against predators. They thus form a necessary survival strategy.
Identity development as a (survival) strategy is a principle often successfully applied in nature. And for us it represents the foundation of our brand consulting approach. I call it the ‘Zebra Principle’.
Did you have any relevant knowledge before deciding you wanted to begin your own business (example. from a previous job or just curious research)?
During my career I was responsible for marketing and brands for 10 years, and with ESTEE LAUDER, I learned the significance of high value brands at an early stage. Later, I came to know the strength of competence-based corporate identityDie Gesamtheit der Kommunikations-, Marken-, Gestal... concepts through my spiritual mentor Benno Keysselitz.
Because of this experience and my training in business administration and organizational psychology, I am convinced that an organizations’ strength lies in the discovery of their own identity, and of the leading role of the corporate brandEine Corporate Brand heißt übersetzt nichts ander....
If you could describe your business culture in one word, what would it be?
In the early start-up time it was CONVINCING (employees and clients with my consulting approach)
Today it is: EMPOWERING (my employees)
How would you explain your business to someone who knows nothing about business?
Our business is about using the lever of a brand. To increase company value. And turn companies into self-confident and culturally strong organizations.
What was your process when recruiting your first employee?
First finding the right people with the same missionDie Mission zielt auf die Emotion, schließlich so... and values we have. You can learn process and methods. But it’s all about values and personality. And the willingness to trigger enthusiasm for change among customers. That’s basically what I focussed on as a start-up and still today.
What were the three biggest challenges faced when the business just started?
- Formulate the service offer in such a way that it meets the customer’s needs.
- Build awarenessBekanntheit einer Marke oder eines Anbieters beim K... so that potential customers recognise you in the first place
- Develop a business plan and cost-structure that fits the order situation
What is your customer recognition at first place?
I have just returned from a trade fair where I visited customers and people interested in our work. They were unanimous: you are the one with the Eiffel Tower. Everyone who knows our consultations knows what that means. Dietrich Identity and the Eiffel Tower are one and the same. Feel free to contact us to experience, what that means.
Is the business unique compared to competitors (potential competitive advantage)?
We live holistic brandingAls Branding wird der gezielte, aktive Aufbau einer..., from consulting to strategy, to design, marketing and living the brand. So that the branding is not only visible, but also perceptible and tangible. We say in german: “We bring the brand strategy to the road.”
Do you believe innovation is important to your business (and in what ways)?
In any case, innovation is important in business. At Dietrich Identity, we had to overcome three economic crises. The dotcom crisis, the financial crisis 2008 and the Covid crisis 2020. We would not have survived all three crises without service innovations.
How did you fund the startup process and did you raise more after starting?
My start-up was funded by private assets.
What key lessons did you learn?
It’s all about ideas, details, people and managing brand advocacy to make a difference.
What advice would you give to aspiring entrepreneurs when it comes to handling setbacks and failure?
I would advise that real development does not come through success. Success is good for self-confidence. Defeats and crises are necessary for the further development of a start-up. They challenge an entrepreneur to take action.
What legacy do you want your business to leave behind?
First of all, I would love to leave behind strong brands that will still be visible, tangible and making a difference in the market years from now. Secondly, our consulting approach is unique in terms of credibility and sustainability. I would be happy if I could find people who would carry this approach into the next generation.
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- Start-up motivation – three challenges you face - 16. Mai 2024
- Nachhaltiges Design für eine bessere Zukunft - 10. April 2024
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