8 Mistakes to Avoid when Naming a New Business #8

Article by Phillip Davis. Reprinted with permission.

Mistake 8: Sit On It. (When in doubt, make no change at all)

Many business owners know they have a problem with their name and just hope it will somehow magically resolve itself. The original name for one of my clients was "Portables," which reminded some people of the outdoor restrooms or the portable classrooms - neither one a good association. This added to the confusion when phone operators tried to explain their new concept of moving and storage. After some careful tweaking, we came up with the name PODS, an acronym for Portable On Demand Storage. The rest is quickly becoming history as they expand both nationally and internationally. Peter Warhust, President and one of the original founders states, "For the record, changing our name to PODS was one of the best moves we ever made."

Exercise Experience, a former Florida-based company, was frequently confused with a health club. In reality, they sold very high-end fitness equipment. This brings up a very key point - it's better to have a name that gives no impression than a name that gives a wrong impression. Much of the ad budget we spent on Exercise Experience was used to clarify that they sold fitness equipment. This was valuable airtime that could have been put to better use selling the equipment rather than explaining the business. Ultimately, the company folded. It's not to say it was solely because of the name, but I believe it was a factor.

Mike Harper of Huntington Beach, CA, bought a thirty-year-old janitorial and building maintenance company named Regency. We both agreed it sounded more like a downtown movie theatre than a progressive facilities management firm. After a thorough naming search, we developed the name Spruce Facilities Management. Spruce not only conveyed the environmentally friendly image of a spruce tree (something important to the client), it also meant, "to clean up." The new tag line fell right in place Spruce "The Everclean Company."

It's only a matter of time before Southwest Airlines and Burlington Coat Factory and others who have successfully outgrown their original markets begin to question their positioning. Much like 3M and KFC, they may need to make a change to keep pace with their growth and image.
In the fever to start your new business or expand a current one, take time to think through some of these issues. According to the late Henry Ford, "Thinking is the hardest work there is, which is probably the reason why so few engage in it." Albert Einstein took it one step further claiming, "Imagination is more important than knowledge." By tapping into your creativity and avoiding these potential pitfalls, you'll be able to create a name that works both short and long term � one that allows for future growth. Like the original cornerstone of a building, it will support upward expansion as your company reaches new heights.

About the author: Phil Davis President Tungsten Brilliant Brand Marketing Phil’s life goal of “creating environments where people thrive” reflects his desire to assist in personal, professional and business growth. Phil founded and ran a full service ad agency for over 17 years and now works full time as a business naming and branding consultant. Phil resides with wife Michelle and four energetic offspring outside Asheville, North Carolina Website: http://puretungsten.com/ Email: Phil@PureTungsten.com

Related Posts:
Mistake #1, Mistake #2, Mistake #3, Mistake #4, Mistake #5, Mistake #6, Mistake #7, Mistake #8.