Last night, Healthy Nibbles won Best Scottish Innovation at the Scottish SME Business Awards.
Amid the initial excitement, I took time to reflect on what an award win meant for us, and how awards may add value for other early stage businesses. By the very nature of an early stage business, both resources and time are limited; life is exciting, invigorating, challenging and exhausting!
What sets successful early stage businesses apart from less successful ones is the buzz they manage to build. Advertising gets costly. That’s why entrepreneurs turn to organic press coverage or social media buzz. That said, many startups forget about a critical piece of the puzzle that can go a long way towards building more buzz: business awards.
What stands out most from an award win, is external validation. Building a business can be an insular place, centred around a visionary idea. There is often a fine line between valid idea and obsession. Receiving external validation is a nod to the fact that as an early stage business you are heading on the right trajectory, it also means that much more to prospective investors, customers and employees than any advertising ever could.
An award win is also an opportunity to take a few minutes to reflect on the business journey so far. From an initial idea to a scalable and sustainable business. The successes, the failures, the lessons learned and most importantly, the future.
An award win is a tool to recognise the talent, hard work and dedication of the team; and also a way to attract future talent to the business. As humans, we all like reward a recognition and to be associated with success; it is no different for a team within the business or a prospective employee.
In short, business awards are a valuable tool to start building a brand and recognition for an early stage business. We’re delighted with our win last night, but recognise that today is a new day, full of more early stage opportunities and excitement!
Comments will be approved before showing up.