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5 Tips for Creating an Unforgettable Name for your Product or Company

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By Mark Skoultchi

In the US alone, 543,000 businesses start up each month. Whether those businesses are large corporations or just one guy selling T-shirts online, they all need a name. Most large companies can afford to hire a professional naming agency, but what about the little guys?

Have no fear!

We believe that everyone, big or small, deserves to have a great name. Let these naming tips serve as a jumping off point for creating a great brand name. And after you feel good about your strategy, you can dive even deeper with our naming guide and other naming resources.

1. Stare at your palm and ask, Who are we?

The first step to any successful naming project is to convene with the key stakeholders of your brand, which could be a product, company, or service. Really think about what makes your brand tick.

What makes you unique? Are you the practical jokers, like Playstation? The sages, like Google? The outlaws, like Xbox?

These are examples of a brand’’s archetype, which, when defined, can help you choose how you will communicate your brand to your audience. This will be the foundation upon which your name will grow.

2. Look up from your palm, and stare down the competition

Explore the competitive landscape to see what sorts of names are out there. Often you will notice that there are identifiable trends.

There are literally hundreds of cloud computing companies whose names include Cloud in some way, like Cloud One, Cloud Web, Cloud Bus, etc. While most brand stakeholders gravitate towards names that sound familiar, this leads them to just regurgitating what’s already out there!

Be brave and go against the grain. Choose a metaphorical name to stand out from a cloud of descriptive names or coined name in a land of real-word names. A great name makes you-you, and not you-them.

3. Now look at who’’s standing with you

You should always think about your customers before embarking on your naming project and remember that there are many customers that you don’t have yet. What language do they speak? What do they enjoy? Who do they love? Your name can address some of these questions.

Clif Bar is a great name for the outdoorsy consumers who buy organic, whereas PowerBar appeals to the consumers who want pure, invigorating energy. Whatever name you choose, make it resonate with your audience.

4. Look over your portfolio or get ready to have one

Brand architecture refers to the way that one company’s products or services are named in relation to each other. Even if you’re naming your first product or service, make sure that you choose a name that can be built upon if needed. Or, if what you’re naming will be part of a line of products that already has a naming protocol, do not stray from it.

Take Lexus’’s alphanumeric car names as an example. The IS, ES, GS, and LS sedans all follow the same naming pattern. Brand architecture allows your customers to easily identify and compare what you have to offer.

5. Now stand up, and take a look outside

Consider in which contexts will you use this name. Are you naming an App for which there is a strict character limit? Will your name be traveling to foreign language speakers where it may encounter unanticipated negative associations?

The name Cosm sounds pretty hip to us English speakers, but in German it sounds very close to kotzen, which means “to vomit”.

Will your customers be spreading your name via word of mouth? If so, it should be pretty intuitive to spell. Also, If you’’re planning on registering a domain for your new name, ensure that it makes sense when spelled out in lowercase letters.

Would you believe that penisland.com used to be an island-themed pen store? Lastly, don’’t get too hung up on getting an exact domain name because these days, you probably won’’t without pretty deep pockets. It’s really not a big deal to add a modifier to your domain name (we did it ourselves).

Ponder these five tips and do the soul searching before you start naming. We promise it will help you arrive at a robust list of names that communicate who you are as a brand. Naming is a long process, but it’s time worth spending because your name is the first thing that your customers will see. It is a vehicle that can drive your customer to images, emotions, and memories. And with some work, you can steer them right where you want.

Author’s Bio: Mark Skoultchi is Principal, Project Lead, and Head of East Coast Operations at Catchword. He is a veteran naming professional with 20 years experience counseling clients in every aspect of product and company name development. As head of Catchword’’s East Coast operations he’s managed projects for Volkswagen, Weight Watchers, McDonald’s, Time Warner Cable, Xerox and many other multinational companies.

Study up Before Going the Franchise Route

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Are you thinking about purchasing a franchise business?

Many people are drawn to franchises because they allow you to be a business owner with much of the legwork already done.

The business plan, what the store will sell, the logo and the advertising are all taken care of for you.

Franchises are often viewed as the best of both worlds because you run a business and start making a salary immediately, whereas if you opened your own new business, it could take months (if not years) to see results.

Businesses that can be purchased as a franchise include Allstate, Arby’s, Chick Fil-A, Econo Lodge, Subway, U-Haul and hundreds of others.

Study Up Before Purchasing

If you’re thinking about owning a franchise, it’s important to study up beforehand to make sure that it’s the right business for you.

The best way to start out is by reading books on franchising. There’s no better way to understand the scope of the industry than by learning from those who have been there before.

If you’re not sure where to start, check out the top 8 books to read for franchising.

The top three books on the list include The Educated Franchisee by Rick Bisio, Become a Franchise Owner by Joel Libava and Franchising for Dummies by Michael Seid and Dave Thomas.

Is Franchising Right for You?

In addition to reading books on franchising, it’s important to learn all you can about the industry to make sure that it’s what you want to do.

Just because the business plan and product are taken care of doesn’t mean the work is going to be easy. You can expect long hours, little vacation time (especially when starting out) and other stressful situations that will arise.

To be sure franchising is for you, ask yourself the following questions:

  • Are you willing to run the business someone else’s way? – This is perhaps the biggest question you will need to ask yourself. Yes, you are in charge of the franchise, but the systems are already in place and more than likely, the owner is not going to be willing to change them just for you. Make sure you’re willing to work under someone else and adapt to their way of running a business, not your own.
  • Can you afford the start-up costs? – Franchise start-up costs can range from a couple thousand dollars to hundreds of thousands of dollars. Before choosing a company, make sure you can afford the cost it will take to get your store up and running. If you can’t afford it, consider picking up a part-time job, working overtime or selling unused items to bring in some extra money.
  • Is running a franchise something you will enjoy? – The best way to test the waters when it comes to franchising is to talk to other franchise owners. Ask if you can meet them for coffee and learn what they like, what they don’t like and what the challenges are which come with the job. If you see yourself being happy by running a franchise, then by all means, go for it.

Running a franchise requires discipline, a support system and the motivation to see your franchise succeed.

Once you’ve done your research on franchising and figured out if it’s right for you, it’s time to move forward with running your own franchise business.

About the Author: Sarah Brooks is a freelance writer living in Charlotte, NC. She writes on a variety of topics including small businesses, social media and personal finance.

How To Create Work That Is Professional Yet Not Boring

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By Lindsey Tolino

Have you ever had an interview or meeting coming up and found yourself staring at your closet trying to create an outfit that is professional, yet not boring?

I have. Sometimes professional can become sterile, cookie-cutter and boring. It takes a little creativity to come up with something professional, yet interesting. And I’’m not talking just about clothes.

Though we may want professional work from people, we don’t want to work with robots. We want to work with people we can rely on to be professional and personable as well. Moreover, we want to be those people. We want to show we are solid at our work, but be memorable as well.

So how can we demonstrate we are professional and not be boring about it?

First, let’s look at what makes something professional. I think these are the minimum:

  • Doing what you said you’d do – You can only be seen as a solid professional if you deliver on your promises.
  • Expertise and an ability to communicate it – If you’’re a pro, you’ve learned the language of your field. Not only should you be able to speak in the esoteric language, but you should be able to easily communicate what you do to an outsider as well.
  • Clear and concise presentation of work – Your work should be organized and easily understandable because mess is the opposite of professional.

You’’re likely a boss at being a professional. But maybe you get hung up, like I do, in the next area – being interesting and memorable in your work.

We want to be solid professionals, but we also want to be personable and interesting to those around us.

So how can we be more personable and interesting? Here are some ideas:

  • Share stories – Being vulnerable through sharing our experiences with others can certainly make us more personable.
  • References to pop culture – This could mean references to movies, TV shows, events, etc. Throw in a “you’re killing me smalls” on an email and I’’ll be sure to pay attention to your next one.
  • Humor – Robotic machines aren’’t funny. Humor is always attractive.
  • Art – This could be images, music, graphic design or even artistic writing. Showing that our work has a human touch through art makes us far more interesting and personable.

But how do you blend professional and interesting seamlessly? It can be really awkward if you just throw a joke at the end of an email or attach a link to music you like. The best way to do it is to know your audience and serve them accordingly. Here are some great real-life examples I’ve seen:

  • The Skimm is an email newsletter that cleanly, concisely and humorously presents the latest news.
  • A friend of mine adds hilariously fitting hashtags to the end of his work emails. He knows his audience well, so it’’s a great fit.
  • These redesigned resumes are beautiful examples of seamlessly marrying professional and interesting.

It can be difficult to present your work as professional, yet not boring. We may have learned to that in order to be “”professional”,” we shouldn’’t be seen through our work.

It’’s time to bring back you to your work. Otherwise, it will be boring. Don’’t edit your creativity out. Let it shine on your polished professional platform.

Author’s Bio: Lindsey Tolino comes alongside artisans, craftsman and people monetizing their passions to help them craft healthy businesses. She shares her business musings at ToBusinessOwners.com. Follow her on Twitter @LindseyTolino or connect with her on Google+.

8 Apps That Help You Run Your Business Like a Boss

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We live in an amazing time for entrepreneurs and small business owners. Tools and software that were once only accessible to huge corporations are now free (or very inexpensive) via the web. No IT department needed.

Here is my latest list of applications that can help a consultant or small team act like ‘the big boys.’

  • Time tracking for teams – Toggl

    (https://www.toggl.com/features)

    One-click time tracking for projects, with ability to mark billable hours, save data when offline, and share time reports. Free with Pro option for extra features.

  • Personal booking page – Meetme

    (http://www.scheduleonce.com/meetme.aspx)

    Simple online appointment setting. Offers multiple meeting times, locations, and time slots, with ability to delegate appointment management to an assistant.

  • Group chat, file sharing – Hipchat

    (https://www.hipchat.com)

    Collaborate with your team no matter where they are. Create separate rooms for separate groups of colleagues, share images or files, and create on-the-fly video chats.

  • Sales & CRM – Pipedrive

    (http://app.pipedrive.com)

    Visually track your contacts from initial inquiry through paying customer. Graphic pipeline visualization, reporting, reminders, and email integration makes it easy to keep the deals flowing and keep track of next steps.

  • Documentation – Genius Scan

    (http://thegrizzlylabs.com/)

    The easiest way to scan documents, receipts, etc., into your phone and then share them. Pull together a stack of pages into a PDF for emailing in a matter of seconds.

  • Tutorials, Instructions – ShowHows

    (http://www.showho.ws/)

    Still in private beta, but worth checking out. It’s an easy way to make step-by-step instructions that are beautifully designed and shareable. Include images, screenshots, and text, and then grab the embed code to share it on your website.

  • Demos and Screensharing – Zoom & Join.me

    (http://www.zoom.us and http://join.me)

    Instantly set up remote meetings, share your screen, and give a presentation, with audio and/or video. Add notations, record the meeting, and chat with other participants.

And here’s a fun bonus app, in case you find yourself in an environment that’s too quiet:

Coffee shop noises – https://coffitivity.com/

What are your favorite new apps for small business productivity?

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for Social Strata — makers of the Hoop.la community platform. Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

 

What Makes for a Good Career Transition?

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Sometimes you need a change.

Perhaps the career you chose years ago has changed enough so that it doesn’t fit you anymore, or maybe you graduated with one degree, but feel you’re better suited somewhere else.

People change careers throughout their working years, some as early as in their 20’s and some much later in life

If you are contemplating a career transition, think about why….

  • Have you lost the fulfillment you once found in your job?
  • Are you looking to improve your financial situation?
  • Do you need something more flexible to better suit your family?
  • Have you hit a dead end in your current career?
  • Are you simply ready for a change

All of these are valid reasons to seek a career change.

The key is making a smooth transition. A career change is enough transition within itself; you want the adjustment to be as easy as possible.

Try some of these tips:

  • Research – If you are interested in something, take the time to really research it. As the following article looks at, if you’re thinking about home inspection, learn 5 reasons to train for a home inspection career, which include strong market need, salary, and flexibility. You may want to search the negatives as well, just so you know all the angles.
  • Talk to someone in that career field – If you know a home inspector or realtor, have coffee with them and find a first-hand perspective on the job. Use them as a source of information to answer any questions.
  • Budget – You may go a little while without the same income you’ve had. Take this into consideration and be smart financially during the transition, even before.
  • Be realistic about your strengths and weaknesses – If you are unorganized, you may have trouble running your own business. If you are an extrovert you may go a little stir crazy working at home alone all day.
  • Have a timeline – Know how long it will take. For instance, you need not only the client base and solid reputation to be a successful home inspector, but you also need training and licensing. This won’t happen overnight, so plan accordingly. Figure out the best time to leave your current job in accordance with a beginning a new one. Do you want all of your training done before leaving your current job? Do you want some time in between for home projects? Think about it and have a plan.

Most people don’t stay in the same career all of their lives, much less the same job.

There’s probably going to be some transition in your work life, so make the best of it and turn it into a smooth, positive experience.

With some thoughtful, thorough research and planning, you can be off to a successful new career before you know it.

About the Author: Heather Legg writes on topics related to small business, working for home and social media.

SMART Goals – Or Better Yet Smart-ER Goals!

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By Deb Bixler

When experienced business professionals tell you that you need to make SMART goals, they are referring to more than just using your intelligence to guide your planning.

The SMART goal concept for developing and achieving goals has been around for a while and it has been used by business professionals to grow their businesses and find success.

smarter goals
  • S (Specific)

The ““S” stands for creating specific goals that you can reach for.

Too many people say that their business goal is to ““make a lot of money”,” or “‘hold more direct selling parties”‘ or something equally as generic. A specific goal would be to grow sales in a particular product line by 10 percent or to date 12 shows per month and actually hold 10 after cancellations.

With that kind of specific goal, you can then create a plan of attack.

  • M (Measurable)

If you cannot measure your goals, then you have no way of knowing whether or not you are on the way to achieving them. You may have to get creative to be able to measure some of your goals, but specific goals can always be measured in some way.

  • A (Attainable)

Business goals need to be attainable to be practical. If you set goals that you know you cannot achieve just to try and motivate yourself, then you miss the point of business planning. You can make your goals aggressive, just be sure that you can attain your goals with hard work.

  • R (Relevant)

Entrepreneurs can sometimes allow personal feelings to get in the way of setting business goals. If you set a goal to “crush your biggest competitor”,then that is not really relevant to your business. Keep your goals focused on growing your business and the things you need to do to make achieving those goals a reality.

  • T (Timely)

In business, timing is everything. Your business planning needs to keep up with current trends and keep your company ahead of the competition. If you are basing your business goals on trends that have already passed, then you are putting yourself in a hole.

Smart-ER Goals Work Best

Now take it a step further and make them SMART-ER goals!

  • E (Evaluate)

Part of the reason that your business goals need to be measurable is because you have to be able to set milestones that you can use to evaluate your progress. The process of evaluating your plan and making necessary changes is critical to its success.

  • R (Re-evaluate)

When the plan has been completed, you need to re-evaluate what happened and pull as many lessons as possible from the results. There is no such thing as over-evaluating the results of a business plan.

Setting goals is the way that successful entrepreneurs find success.

When you use the SMARTER method for planning, you will be able to take your business where you want it to be.

Deb Bixler specializes teaching party plan consultants systems for business success. Visit her website, www.CreateACashFlowShow.com to learn how to create systems for your business.