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Business
Identity
Few things are as important
in business as the manner in which your business is
perceived. That's why we strongly believe in an effective
business identity. A business identity consists
of not only a good name, logo, business cards and letterhead,
but also includes things like how you market your services
and how you deal with your clients.
Below we've gathered some information and resources
that allow you to build an effective business identity.
- The Business Name
- The
Logo
- The Trademark
1.
The
Business Name The business name is important. Large companies
spends thousands, if not millions of dollars on creating effective
and memorable business names. Two well know examples
are "Verizon" (which used to be GTE) and "Altria"
(which used to be the Phillip Morris tobacco company).
Choosing a Name
It sounds trivial, but what you name your business
can have a big impact on how your company is perceived
by customers. In fact, many entrepreneurs will obsess
for hours on what to name their company.
It's a very important decision. Think about it, if
you were a customer deciding between "Bob's Computer
Consulting" or "CompFast Solutions Corporation".
Who would you want to do business with? Would
you want to have your DVD player repaired by a company
called "VCR World Inc."?
What if you wanted to do business with a supplier
and your choices were between "Bloomberg Data Solutions
Inc." or "Mike's Computer Service"? The
name matters.
Things to Consider
Choosing a business name
can be fun! Follow the steps below and you'll be on
your way to a great sounding business name:
Make sure the name is easy to understand and remember:
Because you want your business name to be passed along
easily by word-of-mouth, make sure it is easy to understand
and repeat. Those with unusual names know this can
present
a challenge but can also provide for a memorable business
name, once people have it in their minds. Also, shorter
names are usually more memorable and less likely to
be sources of confusion.
Choose a name that can survive the growth of your
company: As in the example above, if you start out
as a VCR repair company and eventually broaden out to
repair DVD players, sell DVD's or offer upgrades; then
the name VCR World Inc. won't do you any good. Choose
a name that is broad enough to give your business growing
room and narrow enough to retain the power to communicate
its focus. Also, make sure the name will outlast current
fads or trends. What will happen to "Jan's Radical
Clothing Design" in 5-10 years? It's likely that
radical will either have changed meanings or will sound
hopelessly dated.
Make it unique: As a business owner, you'll
be required to file legal forms indicating your business
intent and the fictitious name you've chosen. Your name
must also be unique, since two businesses in the same
geographic area cannot legally operate under the same
name. It's a good idea to prepare a list of three or
four alternate business names when you go to file locally
or incorporate your business.
Test it:Try it out with potential customers,
friends, neighbors or whomever. Say it outloud, act
like you have to answer the phone saying "Thanks
for calling COMPANYNAME". Does it sound right?
Does it make sense? Does it convey what you do or want
to impress upon people?
Business Naming Resources
2.
The
Logo Along with a great sounding name for your business,
an effective logo can do wonders for the impression your
company makes and serve as a pivotal point in your marketing
efforts. Some businesses are known only by their logos,
think of the McDonald's "Golden Arches" or
the Nike "Swoosh".
Don't make the mistake so many first-time entrepreneurs
make by having either no logo at all or a cheesy, home-made logo.
Do it right from the start and impress your competition and
especially your potential customers.
Click here to see our preferred
logo designers.
3. The
Trademark
Click
here to learn more about protecting your business
name or logo with a Federal Trademark.
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