Avoiding Mistakes Fatal To Your Business: #2
Posted by Dannye Williamsen at 5/30/2008 3:13 PM and is filed under Personal Growth,Business,Entrepreneur,Creative 
As an entrepreneur, you have to take action to avoid mistakes that could be fatal to your business. Last time we talked about the importance of creating a vision for both near and long term goals. We made the point that if you don't break your goals into bite-size pieces, you may not be able to swallow them. In other words, you may not be able to accept them as realistic for you.
Action #2: Choose a name and a tagline for your company that's appropriate.
Sometimes a company name can be so informative that it is able to stand alone. That's great if you can pull it off. Quite often, however, a descriptive tagline is necessary for further clarification. For example, the first time I heard of Vonage™, I had no idea what it was. But when I saw an ad, their tagline at that time was "the Broadband Phone Company." That told me what I needed to know. Years later nearly everyone knows what you're talking about if you refer to Vonage™, and it's not because of the name of the company.
The experts say, "Don't be cute when you name your company" because your customer won't know what benefits you offer. I disagree with that as a hard and fast rule. If you have a word or expression that you have coined that describes the heart of what you do, use it. Then add a tagline that either spells out the products or services you sell or identifies the needs of your perfect customers.
We call our company MindSlap! because this is a word that we coined because it creates a visual for a critical element in a person's spiritual growth. It is the element that sparks your movement from one level of understanding to another. We are comfortable with MindSlap! as our company name. It defines what we're about. We also provide a PDF on the welcome page to explain what MindSlap! is in more detail for those who are curious.
Our tagline is : Shake Off Your Past & Design A New Life! which tells you what our products and services help you do.
When you have an unusual name, and your tagline and promotions clearly outline what you offer, your unusual name will eventually separate you from the pack. People will remember you.
My advice:
- Don't be afraid to use something unusual as your company name.
- Make sure it has real meaning for you and is connected to the nature of your business, however.
- Be sure to have a tagline that lets your customer know what your products are or what benefit they will receive from your products or service.
- Be true to yourself. If it feels really good, don't worry what the "experts" say.
All the best on your quest,
Dannye Williamsen
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