|
|
| Information |
|
|
Choosing The Right Business Name
Sometimes, new entrepreneurs are in such a rush to get started at their businesses that they jump right into working with customers without giving much thought to their BUSINESS NAME. "I'll just do business under my own name for a while, until I find something I like." While it seems easy at the time, you might want to re-think the plan to change business names down the road. You will find that, as your professional recognition and customer base grow, people have started to IDENTIFY you with the name of your company. A name change in mid-stream can be costly and confusing. First, you will lose ground in the marketing arena -- it takes time and effort to build up BRAND RECOGNITION, and that time is lost when you change names. You may also lose customers to the competition -- what are they to think when they go looking for "Joe's Mobile Car Wash" in the yellow pages and you've changed your name to "Fast and Easy Auto Detailing?" They might think that you've gone out of business and it's time to find someone else to clean their cards. And finally, changing names can cause you increased PAPERWORK and EXPENSE -- changing your bank accounts, credit cards, marketing materials, incorporation documents, DBA registration, etc. So why not get it right the first time? Here are some suggestions for choosing a business name that will serve you well for years to come. IS IT MEMORABLE? When people hear the name of your company, will they be able to REMEMBER it 15 minutes, 30 minutes, 3 hours, or a week later? When they decide to hunt you up on the web or in the phone book, will they be able to easily recall your business name? It doesn't matter if you are choosing a fictitious business name or using your own -- the same rules apply. Your name should be UNIQUE enough that it will stick in a potential customer's mind -- "Smith's Gym" isn't going to be nearly as easy to remember as "Work That Body." You also want to stay away from names that are likely to be CONFUSED with another company. You may think it's a cute idea to come up with a name that closely resembles (without exactly copying) another company's name. But calling your personal coaching company "Joys-R-Us" is confusing, unoriginal, and likely to bring about a lawsuit! And beware of phrases or ACRONYMS that are overused in your profession. You wouldn't believe how many Professional Organizers use some combination of words that spell out SOS (usually "Someone's Organizing Solutions"). Your company will stand out more if your name is truly unique. IS IT EASY TO SPELL? However, the next question is "when they do recall it, is it easy enough to spell that they can immediately find your listing?" You want to stay away from challenging spellings and pronunciations. Calling your restaurant "Phine Phoods" is just asking for trouble -- how is your customer going to know to look under "p" instead of "f" in the phone book? And if your last name is Piccalopoupoulis, you may be better off creating a fictitious business name. A good rule of thumb to follow is to pay attention to what happens when you tell other people your name -- if you are always having to SPELL or PRONOUNCE it slowly, it will be hard for people remember and find later on. This is particularly important if you are planning to turn your business name into a DOMAIN name. Websites with long or hard-to-spell names get overlooked during standard searches. And try to avoid having to include a hyphen or underscore in your name to make it appropriate for the web. Short, snappy, easy-to-remember names work best in the translation from brick-and-mortar to internet. DOES IT DESCRIBE YOUR COMPANY? Will customers learn something specific, unique, or descriptive about your business, just from hearing the name? Will they get a feel for WHAT you provide or HOW you provide it? Many individual service providers try to sound like high-end firms by using some derivative of their first and last name for their company identity - "Joanna Carrol and Associates," or "JC Consulting," or "Carroll and Company." But what does that really tell a potential customer about your company? I don't know if you are an insurance agent or an attorney or a professional organizer. Include something in your name that describes your product or service -- "JC Graphic Design" -- so customers aren't left WONDERING what type of business you have. You can also include some information about those special CHARACTERISTICS that make your business DIFFERENT from the competition. Okay -- so you've told me that you are a printer. Why should I hire you instead of the printer down the street? You might be faster, cheaper, provide better quality, have more experience, offer a higher-end product, or provide more services than the other guy. If it's appropriate and pertinent, include one or two of those traits -- "JC Full-Service Graphic Design" -- in your name. DOES IT LIMIT YOU? If you are joining an industry that allows for "branching out," be careful about giving your company a name that traps you in a very small service area. For example, a company that starts out putting in tile floors -- but has plans to expand into vinyl, hardwood, and carpeting down the road -- wouldn't want a name like "TileMasters." Something more along the lines of "FloorMasters" will give the company the FLEXIBILITY they need to grow and change later on. And if you have intentions of ever expanding your service area, you need to be careful about a GEOGRAPHICALLY limiting business name. "Hair Over Atlanta" isn't going to work as well when you open locations in Seattle and Los Angeles and New York. Be sure to check the US Patent And Trademark Office's online database (http://tess.uspto.gov) to make sure your name is available for national use before you start printing it on your cards. You also have to stop and think about whether naming your company after yourself -- "Bob's Bar and Grill" -- will limit you in a different way. If you have ever read "The E-Myth" by Michael Gerber, you know that having customers identify your business as an EXTENSION of you brings about its own special pitfalls. You become indispensable to the company -- people get used to seeing Bob behind the counter every night and that's what makes it "Bob's" -- the business can't run without you. And if you ever decide that you want to take a break, let someone else run the place on your behalf, or sell the company, you will run into a roadblock. Quite often, what seems like a great way to PERSONALIZE your business ends up turning it into a stone around your neck. This business is your baby, your investment in the future, and you will have it with you (hopefully) for a long time. Don't short-change your business by skipping out on one of the most important steps you will take during start-up -- selecting just the right name. Ramona Creel is a Professional Organizer and the founder of OnlineOrganizing.com -- a web-based one-stop shop offering everything that you need to get organized at home or at work. At OnlineOrganizing.com, you may get a referral to an organizer near you, shop for the latest organizing products, get tons of free tips, and even learn how to become a professional organizer or build your existing organizing business. And if you would like to read more articles about organizing your life or building your business, get a free subscription to the "Get Organized" and "Organized For A Living" newsletters. Please visit http://www.OnlineOrganizing.com or contact Ramona directly at ramona@onlineorganizing.com for more information.
Latest News:Site: Yahoo! News Search Results for news Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. Help News pick Stadium's greatest moment (New York Daily News) The News is marking the countdown to the final game at The House That Ruth Built by reflecting on Yankee Stadium's greatest moments - and we're asking you - the reader - to help us pick out the best of the best. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. News Corp says Mark Williams interim Premiere CEO (Reuters via Yahoo! News) News Corp. executive Mark Williams has taken over as chief executive of German pay-TV broadcaster Premiere in an interim capacity, News Corp. said after the move led to renewed takeover speculation. Site: news - Google News CNET News Daily Podcast: Facebook, Google open competing services - CNET News
MORE RESOURCES: Site: Yahoo! News Search Results for branding Supervalu picks Fame for branding campaign (Minneapolis - St. Paul Business Journal) Supervalu Inc. has selected the Minneapolis ad agency Fame to handle creative duties for part of a new national branding campaign. Ivy Hotel Checks in to Departure for Branding, Creative Campaign Needs (Marketwire via Yahoo! Finance) Departure, a hybrid advertising agency combining traditional and digital capabilities, and Ivy Hotel, a Kelly Capital Property and San Diego's premier urban resort destination, have teamed up to create branding concepts and associated campaigns that will attract new audiences and captivate its current devotees. Report: Longview branding evaluation (The Daily News) The cities of Longview and Kelso recently hired a Seattle-based marketing firm to evaluate the cities through the eyes of a stranger. Branding history: The tale of a logo (La Crosse Tribune) MADISON ? How do you market the oldest and most ignored institutions in society while incorporating topics both diverse and arcane, esoteric and beloved, academic and entertaining? Branding Datu Piang victims as 'child warriors' a cowardly act - group (GMA News) MANILA, Philippines - A group rehabilitating children on Wednesday criticized the military for branding the children killed in a recent air strike on Datu Piang as "child warriors," adding that air force men involved in the killings should be charged before the courts. Pinkberry serves lawsuits to six frozen yogurt shops (Los Angeles Times) The Los Angeles-based company is accusing the businesses of deliberately emulating its 'highly distinctive branding.' Seeking to freeze out imitators, L.A.-based Pinkberry Inc. filed six lawsuits this week against what it contends are copycat frozen yogurt shops. Children's minister raises doubts over age-banding (Guardian Unlimited) Ed Balls has advised 'caution' over the controversial use of age guidance branding on children's books Fashion Week: Gods of the Garment Center (Portfolio.com via Yahoo! Finance) New York's Fashion District branding efforts have long been half-hearted--a few designer bios embedded in a 'Walk of Fame,' the better for passersby to pay tribute with the soles of their hurried feet, an uninspired oversized button and needle at ... Site navigation (Reading Evening Post) A French restaurant had hoped to paint the town red ? but was told to tone down its branding to honour one of the ?finest buildings in Reading?. Café Rouge was given the green light to transform St Mary?s Church House in Chain Street into a restaurant with an outdoor seating area. Branson bid to block BA/AA merger (ITV.com) Virgin boss Sir Richard Branson is campaigning to block a proposed merger between British Airways and American Airlines. Sir Richard has been vocal in his opposition to the plan, branding it a "monster monopoly". Site: branding - Google News AT&T forms co-branding partnership with ChaCha - CNET News
|
|
|
|
RELATED ARTICLES
Branding Mistakes - Brand Identity Guru 1. It "sells itself. Value-pricing Strategy: Were not The Cheapest but... In this highly competitive online marketplace, it can be difficult to persuade customers to buy from you when you offer a similar product to your opposition but with a higher price tag. And trying to beat competitors on price alone is a cut-throat business, very risky and not recommended. Tips for Creating Brilliant Business Names Imagine if Yahoo! had been named TheInternetDirectoy. Or StarBucks was christened "Premier Coffees". Value Proposition Writing - Brand Identity Guru Your Value Proposition, or as I usually call it, your Core Marketing Message, is still misunderstood by most professionals. It's not just a tagline, sound bite or even an "Audio Logo. Brand Love, Part 2 Last issue, I talked about increasing your Brand Love-- meaning to increase the affection that prospects and customers feel toward your business.Why?Because increasing "affection" will build relationships. Business Branding - How Character Affects Customers and Your Business Image The public buys far more than just your products, services and so-called image promotions. Whenever they interact with anyone or anything associated with your business, they are automatically branded emotionally, good or bad, by the totality of your business character. Effective Branding...Whats in a Name! Ask any marketing executive and they will tell you that a company's name is golden. There are certain associations that people have with a name, one that invokes emotions -- good or bad. Corporate Internet Branding is only Part of A Business Success Gaining new clients that are excited about developing a corporate Web site, and are gung-ho to get started is a dream come true. Trust me - as a creative individual with a keen understanding of what the Web can do for a business - I know what I'm talking about. Importance of Business Branding Branding is very important to a business, whether it is an online or offline business. Your brand will be the first impression the public has of your business and could very well be the most important one. Brand Identity and the CEO This week I spent a few hours with a highly successful CEO discussing his brand identity questions and concerns. "What do the most successful brand initiatives have in common?" he asked. The Positioning of Success Many businesses of today are often driven to compete striclty on price, quality, and features of their products and services. Companies who prosper over the long term don't simply offer the best deals, the best quality, or the most impressive bells and whistles. Branding Is Not Selling Out: ITS SELLING IN Ever see an amazing band perform and wonder why you've never heard of them before? Ever see an astonishing artist on the street and wonder why isn't their work isn¹t in a gallery? Ever see an astounding independent film and wonder why people all over the world don't know about it?Me too!It breaks my heart to know that there are musicians, painters, sculptors, and filmmakers everywhere starving. Starving. 7 Branding Secrets: Ready or Not? Every company has a brand (how people think of them) whether they created it through design or accident. By creating your brand through design, you shape the way you wish your company to be viewed by customers and potential customers. Logo Design - Corporate Identity Branding - Brand Identity Guru Like it or not it's who you are. Your corporate Identity touches all aspects of your business and plays a vital role in your customer's overall feeling with your organization. Clouds Gather Before A Storm: Utilizing The Power Of Brand How brand management can help utility organisations to create a 'difference'.Ever thought why are many consumers willing to pay more for a trusted name brand instead of a store brand, which often is the very same product with a different label and higher price tag? Reputation. Acquire, Then Rebrand Acquiring another corporation usually means that the acquiring company's name will be the name of the newly merged entity. There is one factor that can change that -- one that is stronger than anything else. Hiring the Right Graphic Designer for Your Small Business Every small business needs it, but not many have it. I am not talking about cash flow, clients or even your product or services to sell. Internet Branding Having been in the franchising business all my life and understanding how hard it is to build a brand, I have probably read every other popular book on the subject. Some are good and most are excellent, as each one helps give you ideas on setting the stage for your brand marketing objectives. Whats In A Name? When It Comes To Your Business, Plenty! Q: How important is the name of a business? Should the name of a business reflect what the business does or is it better to come up with something catchy and easy to remember?-- Randy P.A: What's in a name? When it comes to your business, Randy, a lot more than you might think. Is Your Logo Helping or Hurting Your Business? The quality of your logo can mean the difference between success or failure. It can be that simple!Trademarks and Logos make up the most international language in the world.
|
| Home | Site Map | Resource Links |
