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Million-dollar product – ten-cent name? Too many companies today, both large and small, are making the mistake of putting all their time and talent into their product or service and very little into the name. It’s very difficult to build a brand around the National General Corporation, Paradigm Industries, Dynamic Trucking, or the Preferred Dairy Company. All generic, non-descript and boring.
In addition, too many professional speakers and consultants go to market with company names like: Leadership Strategies, Team Builders, Change Managers, or (fill in the name) Speaks! While certainly descriptive, names such as these do nothing to highlight your specific, or creative approach, create a memorable impression, or differentiate you from your competition.
Many professionals make the mistake of being overly creative with names that have tremendous personal meaning to the business owner, but mean nothing to their intended marketplace. I knew a woman who named her publishing company “Laika” after her cat. Some will use the names of mythical figures or make up words like Provenent, Exempla, Innovous. Hard to remember and even harder to spell. Far too many others simply use their initials, or those of their children, i.e.: DLA Consultants, PQR Publishing, etc.
Remember this: If your name requires an explanation, then you’ve just shot yourself in the foot. You can still walk if you’re good, it’s just going to be a lot harder and take far more time to get where you are going.
I’m not suggesting that names such as these cannot be successful – many have been. But if you had the opportunity to do it over again, or you have the opportunity to begin something new, don’t you think the process deserves an investment of your time and resources to do it right?
A company name, product name, seminar title or business moniker should begin the process of educating your prospects. It should, in a memorable, clever or creative way, give a sense of who you are and what you offer. Literal names are rarely successful. Think of the internet. How many times have you visited books.com, searchengine.com or auctions.com. However, I have no doubt you’ve spent time on Amazon, Google and Ebay.
For speakers, trainers, and consultants, (which makes up the lion’s share of my one-on-one Visibility Coach clients) the same hold true for your core message and the titles of your presentations. Here are some examples of my clients who went from good to great:
Mel Abraham is a client who is both a martial arts master and a CPA who does high-end business valuation. But his real passion is about helping people learn how to protect themselves from all the dangers in the modern world, from identity theft to sexual assault. His new brand and his presentations are all about helping people face a dangerous world by creating “Bulletproof Boundaries.”
You may have read before about my client Rob Bell, who is the guru of customer service for the grocery industry, who went on his own with the confusing moniker: “Focus Consulting.” Now, he calls his presentation: “Beyond Paper or Plastic – 8 items (or less) to outstanding service and customer loyalty.” It’s now clear who he is, what he speaks about, and the market he serves.
Randy Haveson speaks to the college market about drinking and substance abuse. His amazing personal story also acknowledges the fact that students are likely going to drink regardless of the “Don’t drink” messages. So Randy has a realistic, effective and engaging program that actually protects college students by showing them how to drink “low-risk.” His program is entitled: “Party With a Plan!”
Marjorie Farnsworth has amazing expertise in international trade. She helps companies create more efficient and profitable import and export operations. Her previously non-descript company moniker, “Farnsworth International” has made way for her new speaking and consulting business now titled: Shipping Channels – Making International Trade Profitable.
Sean Stephenson has suffered from Osteogenesis Imperfecta (brittle bone disease) since he was born. At 26 years-old, 3 feet tall and confined to a wheelchair, Sean gives powerful presentations to college students about not making excuses in life, standing on your own two feet and not letting others define you. The height of irony, his speaking business is called: Sean Stephenson, STANDING – Getting students off their “but.”
Eric Chester spent a decade speaking to high school students and developed a keen understanding about an enigmatic generation just now entering the workforce. Capitalizing on his unique expertise and perspective, he began speaking to corporate America a decade ago about how to recruit, employ, train and retain a tough, new generation. These “kids” were post Generation X and the term Generation Y was too generic. Capturing not only who they were, but also the question that defined them, Chester Performance Systems became: Generation Why.
Does your moniker say something about you, your audience, your market, what you offer and what you believe? Or are you just so enamored with your own initials that you still think they create a memorable and descriptive company name?
When you name your business, product or service, pretend you are naming your own newborn baby – because in a way, you are! Remember, a “Rose by any other name…” isn’t just: Red Flower, Inc.
The Visibility Coach says: “Your business name, like your personal name, is a gift that should last a lifetime.”
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