How the public perceives a small business is an incredibly important thing. Without a positive view of the company, its staff members and the products, it will be much harder to support a financial plan and increase profits. 

Therefore, all ventures should place a significant value on a brand. This company image is often the first thing people think of when they consider a small business, as it should be an accurate, reasonable reflection of the firm. Unfortunately, this is easier said than done. Too many businesses make mistakes regarding their brands, and that can have widespread consequences.

So, here are three tips to create a quality, cost-effective brand and stay current with the changing times:

1. Determine if it is really necessary
The first step a small business should take in regard to a brand is determining whether or not it is necessary. According to Inc. magazine, many companies attempt rebranding without first figuring out if the associated costs are worth it. Will it result in an uptick in customers? Is the existing brand already doing well? The answers to these questions can determine a future strategy, and possibly save the firm money in the process. Before moving forward, decide if a new brand is the right thing for a small business.

2. Create a fresh logo
If a rebranding strategy is in the works, the next step would be to create a new, unique logo for the company, wrote Laura Sherman, a Yahoo Small Business Advisor. Many options can be affordable and effective. For starters, the company should figure out some key elements, such as functionality, aesthetics and timeliness. The logo has to work on multiple forms of media, including letterheads, business cards and posters. In addition, it must be current and fit into the existing trends in the industry. 

3. Decide on an elevator pitch
Interacting with other people is another important aspect of a small business brand. Sherman explained that a logo should be complemented by an elevator pitch. This includes a few quick sentences that will sum up the company, and should be used to convince other people to take a look at the products or services. Before actually talking to strangers, the pitch should be practiced in private. This way, it will become second nature to the person saying it, and that will make it feel more cohesive when used in public.