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Volume 1, Issue 22
Volume 1, Issue 22
November 16, 2007
By Susan L. Reid, DMA
Small Business Start Up Coach, Consultant & Accidental Pren-herô
Author: Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success
An online newsletter about how to start up and successfully launch small businesses for entrepreneurial women who are ready to transform their lives and make a difference in the world, turn their passion into a profit, and bring in a six figure income.
In This Issue
Today’s Topic: Naming Your Business
This e-Zine is intended to be read in 10 minutes or less.
- Special Announcement: Discovering Your Inner Samurai is launched!
- Business Quote: It’s all in the name.
- Five Characteristics of Great Business Names and Five Popular Trends to Avoid
- Accidental Pren-her Blog Highlights
- Q & A: “Help! I can’t handle all the business coming at me. What do I do?”
To ensure we continue to capture the issues most important to you regarding your successful small business start-up and launch, please feel free to contact me directly at: Susan@LaunchYou.com
Click here to subscribe to this e-Zine.
Click here to read our blog.
Note From Susan
This week’s e-Zine was inspired by a question one of our new readers asked about naming her business. As she and I batted around a couple of naming options for her budding business, I was inspired to write this week’s headline article: Five Characteristics of Great Business Names and Five Popular Trends to Avoid. For those of you who have worked with me on your business name, rest assured, you already have a great name. For those of you who haven’t, this is the perfect article to read so you can get it right!
As the business quote for this week says, “It’s all in the name.”
This week’s blog highlights have generated quite a few comments. If you haven’t done so yet, check them out, especially the one about Gratitude Attitude and the inspirational Paul Potts videos.
In the Q & A section, read about a particularly interesting problem that one of our reader’s has: too much business! And stop by my website and order one of my new books for the holiday season. Surely, there is some special woman on your holiday list (perhaps yourself) who could use Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success.
Finally, the first Monday of each month I interview Accidental Pren-hers for my podcast, Stories of the Unexpected. Stop by my blog and listen to this month’s Accidental Pren-her, Marlene Trevisan.
December’s Accidental Pren-her Show will feature Lisa Morelli and Carol Satterlee from Family on the Edge.
Discovering Your Inner Samurai
The Entrepreneurial Woman’s Journey to Business Success
Yes, boys and girls, this is the news we all have been waiting for! On Monday, November 1st, the books rolled off the press. Many of you purchased my book and have emailed me to say you received it and are enjoying its content. Thank you for your wonderful congratulatory emails. I so appreciate hearing from you and knowing that my book is touching your hearts and enriching your lives.
If you, too, are ready to discover your Inner Samurai, head on over to my website and purchase now.
If you’d like to read a chapter sample from the book before buying, you can.
If you’d like to listen to Wayne Kelly interview me about my book, do so.
Business Quote Of The Week
It’s all in the name. —I don’t know who said it!
Click here for more business start up quotations.
Five Characteristics of Great Business Names and
Deciding on a name is one of the most exciting parts of starting up a business.
Five Popular Trends to Avoid
The only problem with choosing the name of your business is that so much rides on your business name. It’s a little like choosing a name for your baby. A little like? Make that a lot like! It’s no easier choosing a name for your business than it is choosing a name for your baby.
What's in a business name? You want it to be everything. Sadly, many business names are nothing. Deciding on a great business name takes time. It takes thought. Moreover, getting it wrong could spell disaster for your business. Getting it right, however, will give customers a reason to hire you, connect you to your niche market, and save you thousands of marketing dollars.
You want your business name to have a big impact on people. This, in turn, will have a big effect on your market. A name that’s too far out may make it difficult to brand. A name that’s too generic and common is easily ignored. Naming your business “Sarah’s Cookies” may make all the sense in the world to you. In most cases, however, your own name means very little to your customers because it says nothing memorable or of distinction.
The key to picking a great name for your business is to make it memorable. Make it distinctive. Don’t make it silly or cute. Your name should reflect your market niche and identity and be able to reach your customer base easily. So don’t mess it up!
Top Five Characteristics of a Great Business Name
It’s specific and reflects a specialized business: Jiffy Lube, Home Depot.
It’s unique. Consider using words that are not in the dictionary: Alkamae, Google, Squidoo.
It’s creative. Don’t copy, borrow, or modify existing famous brand names. Got Milk? has its own branding. Leave Victoria’s Secret to Victoria.
It’s an easy name to say, spell, and remember. Use proper English construction so that when put in a sentence, it will work: “I just purchased a book from Amazon.”
Five Popular Business Naming Trends to Avoid
Don’t abbreviate your business name. Though it may make communication and correspondence easier, acronyms are sterile.
Avoid anything that ends in “global”, “enterprise”, or “Inc.” They’re passé.
Avoid using your own name. Build your brand on your company, not on your name. That way, if you decide to sell your company one day, it will be easier to sell.
Don’t hyphenate your business name. It makes remembering and writing it difficult. Plus, a hyphenated web name is hard to read.
Avoid geographical names unless you're trying to create a strong local affinity. The name “Willow Oak Center for Arts and Learning at Robertson County” works because this is a business targeted specifically for Robertson County in Tennessee.
Once you’ve found your name, consider trademarking it through the U.S. Patent and Trademark Office and registering it through the Secretary of State offices. If your business operates on the Internet, be aware that domain names are not registered through state or local government, so just registering them at domain registration sites is not enough to protect your great business name.
There is more to naming your business than just coming up with something that sounds good, is clever, or you just happen to like. Naming your business is a serious matter. Your business name reflects your image, your brand, and your position in the marketplace. Because your business name is crucial to your overall branding success and marketing efforts, make your business name count.
Make it great!
Accidental Pren-her Blog Highlights
In the Accidental Pren-her blog, I write about the process of turning entrepreneurial women into successful small business owners. It’s a great place to come and build community while embracing your inner Samurai.
Each week, I will post four different segments with the entrepreneurial woman in mind. They are:
- Monday--interviews and stories about Accidental Pren-hers
- Tuesday--alchemic wisdom from the inner Samurai
- Wednesday--reflections on the pren-her life
- Thursday--a book review from the inner Samurai bookshelf and pren-her reading room
Here's a sample of the posts I've added to the blog in the last couple of weeks. Just click the link.
Interview with Accidental Pren-her - Listen to this month's broadcast of Stories of the Unexpected. Our featured guest is Marlene Trevisan. Learn about Marlene's transition from the corporate world of CPA and CFP to the life of health and wealth coach with Isagenix. She has a brand new blog site called Launch Your Life where she posts health and wealth tips and ideas -- stop by and check it out! Take a listen to her interesting Accidental Pren-her story.
Most Inspiring Video of 2007 - This 4-minute video is the most inspiring video I've seen all year. Every time I watch it, I get a lump in my throat and a big ole grin on my face. This video touches me, deeply. And it touched many of our readers, too. Read their comments.
Paul Potts is Following his Inner Samurai - This is a 6-minute video clip of the semi-finals of the Britain's Got Talent show.
Gratitude Attitude - Do you have the gratitude attitude? Some people don't, you know. Read this highly commented upon blog post.
Women-Owned Businesses Not Doing Well - Ever wonder why there aren’t more women millionaire business owners in the world? Click here to read more.
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Weigh in. Make a comment. Let us know what you think!
Ask The Accidental Pren-her
Q: I’m in an enviable position. I am now at the point in my business where I can't handle all the business coming at me. Help! What do I do? I’m not ready for business expansion, so how do I turn down the work without alienating potential customers?
A: Congratulations! You must be doing something right. Many business owners would give their eye teeth to be in your shoes.
Although most business owners want to keep as much business flowing their way as possible, it can sometimes be overwhelming when more work comes in than can be easily handled. If this were just a once-in-awhile occurrence, I would say hire some temporary or seasonal staff to help out. If, however, this is a long-term situation and you aren’t quite ready to expand and grow your business, then it’s important to turn down work in such a way that it actually strengthens your relationship with the customer you’re turning down.
3 Ways to Turn Down Business Gracefully
- Express regret for not being able to take on the additional business at this time. Let the customer know how much, under normal circumstances, you would enjoy working with them and that you would really like to have another opportunity to work with them once your schedule frees up. You might even provide a date when this might be (e.g., "I am currently working on a big project. However, I should be finished with it in 3 weeks. If you have some flexibility, perhaps we can re-schedule for around that time.").
- Avoid taking the "full bucket" view (i.e., once the bucket is full, no additional water can be added). What if you could drain some of the existing water out of the bottom of the bucket and replace it with some fresh, high quality water? In other words, mull over carefully if this is truly a customer you want to turn down. How about taking a sharp look at all of your current customers to see if any can be culled. Perhaps this new customer is exactly the type of customer you have wanted to attract! If so, make room. Make room . . . don’t add on.
- Refer them to another trusted and qualified business.
Tip: When turning down work, treat your customer with the same level of care and respect as you would if you were wooing them.
Disclaimer: I am neither an attorney nor an accountant and am not qualified to give you financial or legal advice. If you are starting up a business, it is important for you to contact qualified law and tax experts and seek their advice.
Do you have a burning “how to” question about starting up or launching your small business? E-mail me at Susan@LaunchYou.com, and I’ll answer it either in upcoming LAUNCH YOU! e-Zines or in our blog.
That’s all for this issue, folks.
Until next time, happy launching!
Susan L. Reid, DMA
Small Business Start Up Coach, Consultant & Accidental Pren-her
Author of: Discovering Your Inner Samurai: The Entrepreneurial Woman's Journey to Business Success
At Alkamae we specialize in taking the fear out of starting-up and launching successful small businesses . . . so you can get on with the business of transforming lives and making a difference in the world.
p.s. Below are the “Hot Links” to our most frequented and requested sites:
Small Business Start Up Coaching for those who are ready to partner with a small business coach and position your new business for success.
Link to our new booklet: 62 Ways to Boost Your Business Success. It’s especially valuable for entrepreneurial woman wanting to grow and expand their business. This booklet offers immediately usable, bite-size networking insights from professionals in various fields throughout the United States. These surefire tools and techniques really work for them. Find out how they can work for you, too, no matter where you are in the world or in your business development.
Recommended reading for successful small business start ups.
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LAUNCH YOU! ISSN# 1935-0473
Copyright ©2007 by Susan L. Reid, MS, DMA. All Rights Reserved.
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