Use science to select your brand colors!
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100 Steps 2 Startup - The Entrepreneurs Newsletter
Bright yellow background with a young woman wearing a rainbow knit sweater. She is pointing to title in bright colours "Optimal Colors for a Logo
How to Select the Optimal Colors For Your Startup
My favorite color is red. Should I use it for my company’s logo? The answer is…that depends. The color is going to become as central to the brand’s identity as the logo itself, so before you choose to use your favorite color for your logo, do a little research on what each color means so that your color choice doesn’t work at cross purposes with your brand identity. There’s actually a science to color and it pays to spend a little time investigating how color will affect the perception of your brand before you finalize your logo.

For example, red can indicate activity, energy, love and its use can create a very stimulating effect, but too much of it can come across as aggressive. Even within a type of industry, there might be different reasons to choose different colors. For example, a PR company that focusses on clients in the fashion or entertainment industry might choose one color, while one that specializes in crisis management might choose another. One might want to elicit excitement and perhaps another wants to convey calm, rational emotions.

Interestingly, in their research in the Journal of the Academy of Marketing Science, researchers, Lauren Labrecque and George Milne found that Red is found in 0% of apparel logo, but over 60% of retail brands. Blue is used in over 75% of credit card brand logos, and in the logos of many law firms and financial institutions because it is the color of loyalty, trust and security. 43% of Fortune 500 companies used blue for their logo. Of course, there are other reasons why certain colors are chosen.

FUN FACT: Facebook’s logo is blue because Mark Zuckerberg is color blind and blue is one color he can always see!

Check out this color guide to see what messages your logo conveys about you & your company.

Did You Know...
Entrepreneurs cite wanting to “follow their passion” as one of the most common reasons for starting a business?

In fact, entrepreneurs with a real passion for their venture have a higher chance for success.
Passion also provides the motivation that entrepreneurs need to keep going, in the face of the inevitable challenges that arise. Research shows that passion is a key predictor of entrepreneurs' creativity, persistence, and performance.

Steve Jobs believed that the passion he had for his work made a huge difference in its success.“The only way to do great work is to find what you love.” he said.


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Ask Professor Wise
Q:  Do you need to know people in the right places to be successful?
... Shahab P

A: Yes, you need to know people in the right places to be successful, but not before you start  :)

Entrepreneurship is a team sport. One needs to know not only how to work with co-founders, but with various other stakeholders (e.g. governments, NFPs, banks, universities, etc.). BUT you don’t need that to start, you build those connections through collaboration and engagement within the larger startup ecosystem you live in. 

The best advice is to just start. You’ll meet people along the way and create your own contacts who will be beneficial to your business. Don’t be afraid to ask people you know for introductions to others who may be able to help. If you don’t ask, you don’t get.

Startup Spotlight

LocAlley (formerly Biz-Wiz) is an early stage networking company founded by a young female entrepreneur; Michelle Fedorowich. According to Statistics Canada, more than 60% of the 1.1 small businesses in Canada with 1-4 employees had to close permanently because of Covid lockdowns. Customers need clarity on whether or not their small businesses have reopened to support them, and businesses need increased digital marketing efforts to communicate with past, and future, customers effectively.

LocAlley provides small business owners with the networking connections (platform) they need to communicate with current customers and expand their business.

The company’s biggest challenge has been securing enough funding to continue developing the community-minded project. Their biggest success has been mobilizing available resources to form a core staff of 5 and a startup team of 20 as a pre-revenue company in the fall of 2020.

Michelle found the 100 Steps 2 Startup program particularly useful for starting her business, validating her idea and building her MVP. She is very grateful to her coach and mentor, Ryan Wilock at Ryerson for his help and encouragement.

LocAlley is currently targeting the approximately 400k Ontario businesses with 1-4 employees, and will expand nationwide next year. Goals for 2022 include expanding to include a focus on low-income communities.

Good luck Michelle!

To learn more visit:
Or visit them on Facebook and Instagram @loc.alley

See how 100 Steps works
Do you dream of becoming your own boss? Of doing something you’re passionate about? Of having enough flexibility to work when and where you want? Starting your own business, either full-time or as a side hustle, requires commitment. But it is also the most rewarding job you’ll find anywhere. So take the leap, if you haven’t already, and start today.

100 Steps 2 Startup follows a proven process and will lead you, step by step, to success.

Questions? Email me at

100 Steps 2 Startup
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