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Do the People in Your Organisation Dress For Success?
What really amazes me, with all the personal and professional development seminars people attend, from executives in corporate world, business owners and employees alike, very little investment has been made into the way they look ... personal...
How To Hire Like The Fortune 500's: A Guide For Small Businesses
A recent iLogos Research study revealed 94% of Fortune 500
companies now hire employees online, a stark contrast from 1998,
when only 29% of them were doing the same. If you own or manage
a small business, that means the vast majority of your...
How To Set Up Your Small Office Home Office And Avoid Paying $2,000, $3,000, Or More
When starting out in business there are great temptations to buy
"the best of everything" and spend too much money in the
process. This is one of the potentially devastating mistakes
that new companies make and it can be a killer from the...
How To Use Small Business Value As The Ultimate Performance Indicator
Business performance measurement and management promote the use of carefully selected key performance indicators to evaluate the performance of a company, its management and employees. Management theory has long recognized that the primary purpose...
Why You Should Learn HTML
Do you have a website or are you planning on creating a website in the near future? You owe it to yourself to at least learn some basic HTML (HyperText Mark-up Language). Even if someone else is creating and maintaining your website there are some...
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Small Business Q & A: What's 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. In fact, deciding on a business name is one of the most important decisions you will ever make. The right business name can help you rise above the crowd while the wrong business name can leave you trampled in the rush.
With the economy in a slump and competition on the rise, now more than ever it is important that you put considerable thought into coming up with the perfect name for your business.
Unfortunately, this is a task that is easier said than done. It seems like all the good business names are either married or… no wait, that's a different subject, but the analogy holds true.
We live in an age when a business called "The Body Shop" might repair wrecked cars or sell skintight jeans to teenagers, so before you send your letterhead to the printer, consider the following points to help you select the business name that's right for you.
The first thing you should do is conduct a little research to determine if the name is already in use by someone else. You would be surprised at how many entrepreneurs forget to research this point and open a business with a name that is already in use. Check with the county clerk and the secretary of state to make sure the name isn't already licensed for use or incorporated with the state. Also check with the U.S. Patent and Trademark office to see if the name is already trademarked, i.e., owned, by someone else. Using another company's trademarked name exposes you to legal action by the trademark owner. Even if your name is just similar to the trademarked name, you may find yourself in court defending your right to use the name. And odds are it's a battle you will lose.
If the name you choose is not in use, you should immediately reserve the name with the secretary of state (if you plan on incorporating) and apply for a trademark to ensure your legal ownership. If you do not trademark the name someone can come along later and attempt to steal the name out from under you. Imagine spending years building up your business only to have some upstart trademark the name and engage you in a legal battle over rightful ownership. This is one fight you don't need, especially when the hassle could have been easily avoided with a few bucks and a few forms.
Another important thing to consider is the domain name for your business. The domain name is the website address a customer will use to find you on the Web. Is the domain name for your business name available? If not, is there a domain similar to the business name you're considering?
You will undoubtedly discover that securing a suitable domain name is actually harder than choosing a business name. Most logical domain names are already reserved, but you might get lucky. Keep in mind that domain names should be short and descriptive, and preferably have the .com or .net extension. You can use other extensions (I've even used the ".to" extension on occasion) if necessary, just keep in mind that you will need to put forth a little extra marketing effort to promote the website address as people
typically assume a .com extension as the norm. Whatever you do, don't use a domain name that is a confusing amalgam of letters and numbers that is hard to remember and even harder for your customer to type in.
One good way to approach the task of naming a business is to do so from your customer's point of view. Your business name should clearly define your offering and communicate your message to customers. Put yourself in your customer's shoes for a moment. If you were looking for a business that provides your product or service, what would you expect that business to be called? If you were in the market for computer parts, for example, wouldn't you look for a business that has "computer parts" reflected in the business name? Jim's Computer Parts may not sound as snazzy as Jim's Electronics Emporium, but snazzy doesn't pay the bills. Happy customers who quickly identify you as the source of their purchase do.
The name of your business can also spark subconscious reactions in a customer that may drive them to you or drive them away. Words like quality, complete, executive, best, low-cost, and on time often spark positive reactions in the mind of the consumer. Words like cheap, discount, and used tend to create negative emotions. You'll notice that no one claims to sell used cars anymore, but the dealer lots are loaded with vehicles that are "previously owned."
Finally, let's talk about things to avoid. Experts agree that you should avoid using generic terms like enterprise, corporation, partners, and unlimited as part of your everyday business name. These terms are fine for the legal business entity name, but are often too unclear for everyday use. Can you tell me what any of these companies do: ABC Corporation, Big Dog Enterprises, M&B Partners, and Discounts Unlimited sell? I didn't think so.
Also avoid abstract names like Yahoo, Google, Monster and Flip Dog (I am not going to list the names of the numerous local high tech firms that have bucked this rule :o). Abstract names will require a subtitle to explain what the business does or an expensive marketing campaign that brands the name into the minds of consumers. Unless you have deep pockets, I suggest you go with a name that describes your business at first glance and leave abstraction to the likes of Cher.
Finally, you should avoid hokey names, unless of course, you are starting a hokey business. Crazy Dave's Stereo Shop is a great name if the business is really run by Crazy Dave and his personality is exploited in the marketing of the business.
However, if you want to be taken serious, then give your business a serious name.
Would you go to Crazy Dave's House of Dentistry?
Neither would I.
Here's to your success.
Tim Knox tim@dropshipwholesale.net For information on starting your own online or eBay business, visit http://www.dropshipwholesale.net
ABOUT THE AUTHOR
Tim Knox as the president and CEO of two successful technology companies: B2Secure Inc., a Web-based hiring management software company; and Digital Graphiti Inc., a software development company. Tim is also the founder of dropshipwholesale.net, an ebusiness dedicated to the success of online entrepreneurs. http://www.dropshipwholesale.net http://www.smallbusinessqa.com
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United States Small Business Administration |
An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
www.sba.gov |
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SBA |
The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle. ... |
www.sba.gov |
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Main Page - SmallBusiness.com - Small Business Resources |
Find Small Business plans, advice, tutorials about organization, corporations, entrepreneurship, and smallbusiness. |
www.smallbusiness.com |
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Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
smallbusiness.yahoo.com |
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Small business advice business start up small business finance ... |
business start up small business finance start up advice. |
www.smallbusiness.co.uk |
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Smallbusiness.gov.au redirect to business.gov.au |
Business Entry Point - Helping small business in big ways. An Australian Government initiative. The content from this website has now been consolidated into ... |
www.smallbusiness.gov.au |
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Business & Small Business |
Online and print small business publication. Information to help start, grow or manage a small business. |
www.entrepreneur.com |
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Microsoft Small Business Center |
Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
www.microsoft.com |
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The Small Business Advisor - advice for starting and operating a ... |
Advice and assistance for starting and operating a small or home based business. |
www.isquare.com |
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SCORE "Counselors to America's Small Business" |
A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
www.score.org |
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Small Business and Self-Employed One-Stop Resource |
IR-2006-2, January 3, 2006 - Temporary and proposed regulations will significantly reduce tax filing burden for nearly 950000 small business owners. ... |
www.irs.gov |
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Welcome to Small Business BC your business resource in British ... |
BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
www.smallbusinessbc.ca |
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Small Business Service | Home |
Provides information and advice to help small businesses realise their potential. |
www.sbs.gov.uk |
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NSW Small Business |
A site developed by the NSW Department of State and Regional Development for small businesses. Topics include management, resources, current issues and ... |
www.smallbiz.nsw.gov.au |
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Business Management & Advice: Small Business Resources & Information |
Looking for business management and advice? Our website includes small business resources and information that can help you. Visit the small business ... |
www.businessweek.com |
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Small Business Lawyer, Attorney, Law, Legal Help - FindLaw for ... |
Information and legal sites relevant to small business. |
smallbusiness.findlaw.com |
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Small Business Funding Opportunities (SBIR and STTR) |
Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
grants.nih.gov |
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Microsoft bCentral Small Business Directory |
Directory categorized by industry with company business card feature. |
sbd.bcentral.com |
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Facilitates the sharing and exchange of information among small business development centers, the small business administration and other business-oriented ... |
sbdcnet.utsa.edu |
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Small Business Development Corporation |
Our business information services provides guidance to improve business skills and knowledge on advice on starting, buying, selling and expanding a small ... |
www.sbdc.com.au |
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