How to Name your Business?

“…Name your business with your name and do whatever you want. Change your niche, forget about marketing rules, etc….”

I heard this recommendation so many times that I almost believe in it. But even if this idea works 15% of the time, it’s surely better than nothing. Let’s see when it does work and when it doesn’t work.

It will work for artists, musicians, writers, public people. But it may not work if you build the business and plan to sell it later. When you are going to plan serious businesses, which you can sell later, it’s better to have the name which related and connected with the business.

If you choose to use another name, here is another catch. Is a name supposed to be about the business or it can be abstract?

Here are few thoughts from experience.

The name which has “that’s what you sell” in the name helps you to be memorable as an expert. (Apple Computer Inc., for example, they changed a name after they changed the product line to Apple Inc.) It makes your company searchable online in a better way, especially if your site has the same name as your business. It gives to your potential clients a lot of clarity that these people are in this market segment. Because of the previous points, it’s a bit easier to advertise and promote the business with the very direct name. But with time, it’s harder to get such names.
If your name, however, doesn’t contain the connection with your niche, you can create a powerful explanatory tagline and use it along with the name.

An abstract company name seems like a good solution in the overcrowded market. But because no one knows what does, it means it’s a bit difficult to remember. That mean it will require more promotion, more budget and more creative approach to advertising. I bet you can give me a dozen of the big brand names which means nothing. But I would ask you to remember a few things, how long time ago they become famous and how much money they invested to this popularity.

The another option is to create an abbreviated name. It often works well for large enterprises like PricewaterhouseCoopers known as PwC. You will spend more to promote such names, just like with abstract name.

So what to choose? Your name or some business name. If you do not plan to sell your company you can experiment with your name. You can even add the indicative market word to it, like “Joe’s Jewellery”. If your name is not pronounceable or very ethnic, it will work the same as abstract business name (people will have difficulty in remembering it). Then maybe use the name which people can remember.

I would choose the name which reflects what you do, and if you want to use your name yet add an indicative market word to it. Something like Jackson’s Computers may be boring but use both the function and the family name.

P.S. Don’t be confused or stopped by the business naming.  Many large companies changed their names and logos in the beginning. Just go with the name which seems appropriate and efficient enough at the moment.

Good branding costs no more than the bad one

The only difference the bad one can harm your communication. I saw many people who created really bad brand communication for their business. Then they spent a huge amount of money to publish it in newspapers.

I wish I could say it doesn’t work.

But I’ll not lie to you. It works. If you put any advertisement in a newspaper, on the first page, it will be noticed somehow. If you put even the best advertisement, on the last page or elsewhere, it may be lost. The question is if you put a good advertisement on the first page, and you will do it consistently during the month…what will happen?

You may ask, how is these newspaper examples are related to us? Well, it works in the same way in any media. Let’s say you post random images irrelevant to your brand time to time in 10 Facebook groups. Guess how soon people will notice you? Never. What they will notice is your social skills, and then they will like or ignore, your posts, just because they know you. However, if you go with consistent messages and provide clients with rich content (value, visuals, copy) on a regular basis. They will notice you even if you do not talk to anyone. They may like or not like you, but that’s the personal choice after all.

So effective, strategically build brand and brand communication make you noticeable and create the image in customer’s mind. As a result, you get more clients and more money.

Think about it.

Would you like your customers to recommend your business to their friends and fill your agenda for months ahead? It is time to turn your business into a brand! Subscribe and get your checklist today!

Build your tribe with the right branding

People love brands. They follow the ideas; they share the sense of being a part of a brand community. If you ever loved the brand, you would know who are other customers. Long ago Apple aimed at creative young people; they knew they had a need for the different aesthetics and approach, so they created their products based on their client’s perception about a good UI or good device. If you ever talk to advertising creative teams, you would find that many of them are proud Apple product users. Yes, no mistake, they are proud. They got that community idea from the old times and still follow it.

Check the internet and see how many people talk about the shifted from iPhone to Android. For this type of category, it is a powerful controversy headline. Which means “how dare you switch”. But Apple is no longer so exclusive. It becomes an average expensive product, innovations are in their past as of now they are playing safe, and the charm and magic of the Job’s Apple almost vanish.

Another example is Hugo Boss, Hermes, Burberry, Jimmy Choo. All these brands convey the prestige. People choose them to get into the different world, to be a part of the success community. Sometimes they may have nothing to eat, but they will buy a branded bag or car. Well, that’s extreme and illustrates a dark side of a brand, (big brands in particular).

When you build your brand, you create a centre, an attraction factor where your tribe will gather. They will believe your message, your actions, your promises and they will recommend you to other people. With no reason, just because they love your brand.

Why is nobody buying if I paid for my site logo, and now I’m a brand?

This issue is more common than you think. There are too many people who think their products will sell themselves.  First of all logo and site do not mean that you are a brand. Even a registered trademark doesn’t make you a brand. This is important to know. The truth number two. You do not need a site, a logo and a brand when you have just started (unless you sell physical products then you may need a temporary logo to be put on them because you are going to change it anyway). So what do you need to start your biz? If you have a product and you want to share it with people, all you need is a Facebook page, a Facebook group and several social media accounts. And well they are all free. Eventually, you will need an emailing program and maybe a few others, all within $10 per month.

If you have physical products, you can add them on Etsy or Amazon.

It is always harder to advertise a personal site than a place on a popular platform.
Those who tell you that Facebook has its rules and those are not yours, well, I lost three sites because of my provider’s mistakes. Sites also do not belong to you, so there is not much difference except that you do not need to pay in the beginning.

And remember it’s the test stage of your business and all you need to do is to start selling. All you need is marketing at this stage and you DON’T NEED A BRAND at this stage! Money first — brand later!

Here is one of the many FB live sessions about it from my group. (It’s a phone quality video do not judge it hard)

Why do you not need branding when you start a business?

  • How many times do you say that people who want to start their business are full of ideas, but then they never start?
  • Or they talk about business and make their site, biz cards, logo and nothing happens?
  • How many times have you seen or heard about a person who silently sits and reads all this info in the groups and never advertises or makes herself visible?
  • How often do you hear of someone who is ashamed to sell and feels that she can faint if she mentions the price?
  • Have you ever thought that you could do everything alone and one day you will hire people?

If you recognise yourself, it’s great because I’m going to address all these issues in this series. And maybe will touch upon even more.

Ideas can kill your business even before you start. So let’s make them safe.

So, let’s start with ideas. Business ideas seem easy —to make your book or make your app and sell, share your knowledge online and teach. Isn’t that simple? If you’re stuck to some idea and want to invest in a site and logo and a BRAND to finally start a business, STOP IT NOW! There are millions of ways to check and test your idea before you start to invest in it. Answer these questions:

  • What do you love to do?
  • What do you hate to do?
  • What brings you Money or what you were paid for?
  • How much time you want to spend in your business?

Now begin your research. There are many groups, forums and sites like Quora where people answer your questions. Roughly describe your product and ask if they would be interested in buying. If so — why and if not — why not. Mentioned that you are researching. Define your target audience and see what they want and what they don’t want, what problems they have so you can solve them. Build your product based on their pain point and help them to find a solution.

Use your client’s language. Interview your target audience. How they talk and which words they use? Use the same words in your advertising message and share with them how they can solve their problem. All this can be done before you invest in your business. It’s a practical method to see all pros and cons you can face right before the beginning.

The conclusion is fairly simple.
Find what you are going to do. Define your target audience. It may be a tough decision at this stage, all you need to know is their age, gender, income level, geolocation, fears, pain points and desires. You can find all this via research and interviews. Well, it’s not easy, but there is no way you can do without it. And the third part is researching your idea in groups, forums and sites like Quora. (You can also find some new ideas at the same places).

Liked it? Get more in my group for Lady Entrepreneurs 🙂

Boring posts sucks. But it can attract your ideal client anyway.

Want to talk about boring today. For example, I may sound boring, but my clients make millions of dollars because I’m systematic and I sometimes even fight with them for their success. If someone loses an opportunity to work with me and achieve prosperity because I’m not entertaining enough, well, it’s not my loss. By the way, one of the best business trainers I, personally, admire — Ramit Sethi, sound like a hell of a boring person to me, so much so, that I couldn’t read his e-mails five years ago, but he is the best yet.

See, when people are boring they are often systematic. Unlike people who want to manipulate your mind by being entertaining, these guys behave like geeks who do not want to be attractive at all. I think you would remember such people from school.

The was a great phrase — be kind to nerds in your class, one of them will be your boss in the future.

They’re people who don’t want to entertain other people; they’re re not here to make you laugh or be excited or make you happy. They are here to make a change in the world, find success for themselves and other people. They are often different than everyone else. They are like weird scientists and introvert artists. They are not mainstream, and they enjoy what they do on their own. When they write their copy, they often attract only same brainy crazy people like themselves.

  • The question is, can you benefit from them?
  • Can you make yourself study more to get what they are trying to say to help your business?
  • Or would you prefer entertainment because it’s easy to digest?

Whatever you choose it’s up to you. If you prefer a Circus Queen with a hot body to a Librarian with hot brains, that’s your choice :). And it will benefit you either way, just differently.

Now, if you are one who writes boring posts, do one simple thing. Understand that your audience is probably just like you, smarter than average. And write for them with all the passion for the subject you have. Know that it will be difficult to be noticed and appreciated, so it’s a tough way. Any charts, infographics, tables, case studies, etc. are the data content. These are always very informative, but can also be boring; that’s why when it has an appealing look and convey your brand via colours, fonts and style, it can make a better impact on your readers. The only way you can win this battle is to show results which speak for itself. More boring statistics and case studies, my friend, can make a serious change in your copywriting. In fact, results will allow you not to write at all or write less because you do not need words to explain the facts if you can show them.

Now. To make the data content branded you need to follow these simple principles. Use your brand colours. Find a style for your charts and infographics and follow it all the time. Know your target audience and what will work for them. You can make your data look very sophisticated, or you can make it trendy, simple, flat or you can use some volume and shadows and realistic touch. Whatever you choose to stick to it.

This post is the part of the series “Brand Content like a PRO” which I run in my group right now. So if you want to discuss it, or ask questions, or maybe propose a topic you can join my Facebook group for Lady Entrepreneurs (sorry guys).