Name, Identity, and Making the Strongest Foundation Possible Right Out the Gate

Backpedaling can be catastrophic for a developing entrepreneur. Every month of development matters, but costly mistakes can derail an entire operation. Take the example of the company name. The name was chosen and it is perfect. Fast-forward six months and the business is sent a discontinuation and a threat of a lawsuit. The name, of course, happens to already exist. All the progress made has been thwarted. In those early months, brand development and simply letting customers know it exists is crucial. Yet, all that is lost due to poor early development and rash thinking.

A Universal Name

There is also a strict business component to a name that goes outside its marketing. It includes obtaining a name that is universally available. For example, the domain name for the business should be available. But, an entrepreneur can’t forget the other pieces.

  • Is it available as a business copyright?
  • Is the email available? (such as gmail)
  • Is the extension of the name available? (such as businessnamellc.com)

The name has to be available in more ways than one. It may end up splitting the business apart in subtle ways that can damage the brand overall. It isn’t uncommon now to see musician websites that say the musician’s name followed by “band” or “music.” It’s better than nothing, but it is hardly ideal.

The Mistake of Stalling

Yet, there is another inter-related mistake that entrepreneurs do. This is particularly prevalent in the early stages. They end up spending extensive time in pre-development. This is what many may call the “naming stage.” They spend months (or more) working on a name, yet they fail to make any serious progress of any substantial worth. At some point, one needs to make the creative leap of actually doing things and not just planning on doing things. The name, as valuable as it is, can be a crutch for any serious progress.

It is always easier to sit and daydream over the perfect name. By the time it comes, if ever, the business has tripped out the gate and may no longer be as vibrant. Visit littlepinkbook.com for more information on becoming a wonderfully successful entrepreneur.