with the names you come up with, especially if you sell to a conservative marketplace. Obscure or vague sounding names tend to lose their impact in certain markets. If you can’t relate or connect with your target market on their level, how could you possibly help them connect with their marketplace?
1.1d Reinforce your company’s position
It should help reinforce your company’s position in the mind of your client. Not all names are self-explanatory. You may find that the name you come up with doesn’t help clarify what you do very effectively. To help you achieve more clarity you might consider using a tag line.
Tag lines are short descriptions that are attached to your business name. They can be a helpful addition when a business name isn’t 100 percent clear. Tag lines remove the mystery of what your company does by helping your prospect achieve instant clarity. Although tag lines are not a necessity, you may want to consider using one if you feel it will increase communication (e.g., Mindwalk Design Group — Web design experts for small business).
Keep your tag lines short and as descriptive as possible. Many designers are tempted to be clever, use humor, or take a tongue-in-cheek approach when using tag lines. This often makes their message ambiguous and leaves the interpretation up to the viewer. Don’t be clever; be clear.
1.1e Communicate size and stability
If you are starting out alone in your business, it’s important to realize that many businesses feel most comfortable dealing with other “companies” as opposed to individuals. Your name can play a large part in avoiding the “size” issue all together. There are simple ways to appear larger than you are simply by adding words such as “& Associates” or “Group” to the end of your name (e.g., Michael Huggins & Associates or Mindwalk Design Group).
Having a name that implies you are a larger sized company often means you can rely on the impression clients get from your name and avoid the discussion of talking about it. You can simply take the position that if your client’s doesn’t ask, you aren’t telling. However, it’s important to note that you should never mislead clients when they ask about the size of your firm. Always answer truthfully in a positive way. When asked how many people are in your company you can inform your clients that it is just you, but that you use a network of people as required to accomplish many of your projects. You will find out that a good name can help you avoid this discussion almost 95 percent of the time, because your clients have already drawn their own conclusions.
1.1f Be simple
Make sure your business name is easy to say and spell. No name is worth having if people can’t pronounce it or spell it correctly after hearing it. If they can’t pronounce it properly, it means it is not memorable and future confusion could result. If prospects can’t spell it, it will make your business hard to find and locate in directories especially when it comes to finding your website. How will they find your site if they can’t spell it?
Also, avoid using acronyms for your company name. These tend to be more generic sounding and less distinctive and therefore a little harder to recall.
1.1g Be able to register it
You’ll want to know if you can own or use the name you select. In many cases your name must be registered with local and state or provincial authorities in order to ensure that your business is in compliance with local and state or provincial laws. It can also help ensure that there isn’t another business operating under the same name.
Although there is an exception to registering your name if you are a sole proprietorship or partnership, it’s always wise to check with your local and state government offices to be sure.
1.2 The importance of choosing a good name
When I first started my company I was working for another firm while developing my own personal business part time. I chose the name “Graphic Impact.” During the first five to six years I worked on building my business part time using this name. It seemed to me to be a good business name.
It wasn’t until I went full time and seriously tried to get work from scratch that I realized there was a disconnect between my name and my prospects. Most people thought I was a printer. Many prospects would focus on questions regarding printing services even after I had sent them literature on my company explaining what I did. As a result, I found that many prospect meetings were awkward and difficult. Often clients would have to “think about it,” meaning they probably were not going to use my services. This meant that I didn’t get the job.
I knew I had a problem and I slowly realized my name was a big part of it. Prospects interpreted my name differently than I thought they should. The problem was that many printers referred to themselves as “graphic services.” Naturally many people I talked to assumed that was also my business’s focus and they had a hard time believing anything else. It didn’t matter what I thought my name should be. It only mattered what other people thought about it. My name was clearly affecting my ability to get the kind of clients I wanted.
When I discovered this, I legally changed the name to a new company name and made a marketing event over it (complete with a client party celebrating the new name change). To be honest, I had no idea about the scope of the negative impact the company’s name had on my business until I changed the name. The contrast was very noticeable. From that moment on, my prospect opportunities increased, my meetings greatly improved, and I started to convert more prospects into paying clients than I had under my original business name.
1.3 Getting personal with your business name
Many design firms and businesses begin by using their own personal name as their business name (e.g., John Smith and Associates). This can be an advantage when you build your business to the point in which you have a reputation in an industry niche. It is not overly valuable at the beginning of your business when you don’t have a niche. You’ll have to build your personal business name reputation just as you would any other business name — with consistency and frequency through your marketing and sales efforts.
One advantage of using your own name as your business name is the differentiation you’ll have against your competitors’ names. You probably won’t have a design competitor who uses the same name. Plus, if you have a very distinctive name, it could make your business name stick in the mind of your prospects, which makes it very recognizable. Another advantage is that a personal name creates a type of legacy that you can leave behind when you decide to retire and pass on the business or sell to another.
However, there are some drawbacks of using your name. For example, your name might not be that distinctive or memorable (e.g., John Smith Design). Even if there isn’t another direct competitor in your marketplace, there are plenty of businesses that use this model.
Consider also that when you use your personal name as your business name you make yourself the focus of your business. That means you could find it difficult to sell your business in the future if you were interested in doing that. Buyers would be concerned with what would happen to the business if you are no longer in it — both in name and in person. Buyers know that the business equity will be mostly in you and your approach. You may never ever get to the point of selling your business, but it’s something to consider.
1.4 Discovering your business name
Try to have a vision for your company when developing your business name. Think about what your business could be in the future. Try to imagine the types of people you will attract and the kind of businesses you will be working for. This will help you to start thinking about the tone and positioning of your business name.
In order to come up with a name that sticks, you’ll have to know a little about where you are going with your business. This isn’t just an exercise in fantasy; this is casting vision.
Let