What’s In a Name?
You’ve got your business “Big Idea”!
Excellent, now where do you go? Creating a new product, real estate development, or commercial business is an exciting, intense project. There are many moving parts that require scrutiny and attention to detail. One of these is determining branding and market strategy.
One of the first steps is determining what you are called and how you want to be perceived as a brand.
Where are you looking to fit in with your competition, and your market? Research your key consumer target and ensure that you are speaking the same language. What emotions does your name evoke? Does it align with your business proposition?
Using your name is also an option. You are your brand, so it is a natural progression. How does it fit with your business model? Are your goals for your company to stay relatively small, or to become a global powerhouse?
Go through the exercise to ensure that what you are selling matches with your brand. You are going to spend more time adjusting misconceptions rather than doing your sales pitch.