steadyhomebusiness.com

Do it right and you will build up value in your business name.

Your name should

• appeal to your best customers
• be different enough to be remembered (a good brand)
• not be similar to someone else’s trademark
• be available through your state’s corporations office

A common mistake is to ignore one of these 4 factors. So, let’s do the process.

Who would be the best customer? Write down some names and try them on whoever will best resemble your best customer. Try a variety of names, and don’t be too plain and just say what your business is. "Restaurant" may not be the most catchy name for your restaurant. Best for your brand would be a word that invokes the emotion that should be associated with the business. You better get several choices, because the next steps will eliminate some of the best stuff.

When you have a few possible names, the next step is to make sure you are not trampling on someone’s trademark. You get a common law trademark by using the mark in trade. You can figure out if someone is using the name locally by checking the telephone book and doing a Google search. Also, a Federal trademark is not to be infringed. You can check the US Patent and Trademark Office database at www.uspto.gov/. At the USPTO site, from the home page navigate to Trademark area on the left navigation and then to the TESS database. You want to do a "New User" search for a "Combined Word Mark". I plan to put up a video to show you how to check the Federal database. Until I do, you can always have a patent and trademark lawyer check for availability.

Once you have determined that there is no Federal trademark to worry about, then you are ready to check your best remaining names in your State’s corporations office to make sure it is available there. If you are starting a Florida business, where to check is set out in the page on steadyhomebusiness.com/forming-a-florida-llc/. You can check a corporate or LLC name there.

If you have an appealing name, that your customers will remember, and that is available, then go ahead and get it by filing your LLC or corporation papers.

The most powerful thing you can do for your business is to

• pick some ideal prospects, and
• ask them what they want

Few businesses do this. If you do it, you will have the advantage you need.

Not everyone will help, but a few will. Remember, your goal is to shut up and listen. Take some notes. Prepare to be surprised.

Once you know what problem is on your prospect’s mind, state that problem in the very first sentence of you materials.

For any business at any stage, there is an ideal customer. If you just think about this, you can descibe this ideal customer. To help you focus on this, name him or her.

So If you are selling power nailers to home builders, we can call him Tom Builder. Tom has been in business for 10 years, has 5 framers working for him, drives a pickup, and is worried about the subprime mortgage problem and the potential recession in home building.

See him standing in front of you? What can your business do to help him today? Your sales material should speak directly to Tom Builder.

This technique keeps you from lapsing into boring sales speaking. It is so valuable that it has a name: marketing persona.

You may need to develop several personas, if you have several types of ideal customers. But you need to give each one a name.

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