Wednesday, December 06, 2006

Naming your Business

Creating a Business name.
When formulating a business name there are many things to consider.

Your name is as important as your business plan. It’s the invisible snapshot—that critical first impression your business develops with every potential client.

For a contractor-if your name says, “Amateur”, or “Caution” or “Cheapest” you may be doing yourself a disservice.

If you want handyman work—it should imply that. “Odd Jobs Wanted”, or “Handyman Connection”.

If you want high-end work, it should give that immediate impression. “Precision Carpentry”, works well for Trevor in Mississauga.

Using your local area in your name works well for the web—but you may pigeonhole yourself and or outgrow it. Re-branding is expensive.

Pitch the name to 10 friends and gains a consensus… beg them to be honest. You want real criticism.

The ultimate test is if your phone rings after adopting the name and getting the marketing out.

Many of our contractors use the name that we know makes the phone ring. The name has worked very well for us—

Changing the name mid stream is tough.

My original business name in 1987 was functional at first. I was 20 and had little experience. I needed to gain the experience so I needed to be busy. The name did that, but it precluded much profit. It got me many low-end basic, price conscious jobs. I think I did 21 jobs on a single street. (When this happens your pricing is too cheap). The name implied that we did cheap work, which I couldn’t justify continuing with.

Many people when confronted with evidence later that their name is hurting them fight it vehemently. It’s worse still when it’s your initials, worse still when it is your nickname.

Spelling errors are to be avoided, and things that imply taste in music or slang should also be avoided, as with cultural and racial terms.


1 comment:

Anonymous said...

Here's a couple to further twist your intellect...

HDR Contracting.... Handy Dandy your service! He tried....he started with a lowered...supped-up S-10...the one rated for a maximum 500lbs payload or screw up the truck....saw him around for 1 year...then no where to be found...

Dirt Cheap've already read the landscape designer blog

Boots Landscaping & Maintenance....Now....he could have went somewhere along the lines of Pathways To Perennials (a name that bugs me for some reason as well...)...with the name know, something along the lines of...a foot above the rest... Instead, he chose to brand himself with a logo of a cruddy looking old construction boot! Because that speaks to someone with $150 g to burn on a fancy looking landscape!....