After a lot of time and effort you’ve finally done it – you’ve found the perfect name for your company. It’s creative and it defines who you are as an advisor. But before you print off new business cards there’s still a few things to consider.
Finding that right name is a good way to distinguish yourself from the 35,000 other advisors in Canada, says Jeff Malcolm, president of AdvisorBranding in Toronto. However, finding an effective name can be difficult. “Naming is certainly a challenge,” Malcolm says, “because you want to create that uniqueness and that first impression.”
Here are a few questions to ask yourself before putting that name on your shingle:
> Does your new name stand out?
Double check that the name isn’t similar to that of another company. You don’t want your clients, or potential clients, to confuse your business with another, says Asif Nasim, managing director of Wickware Communications Inc. in Toronto.
> Is it easy to remember?
A name is meant to distinguish you in the business and resonate with your target audience, Nasim says. If people can’t remember it your name, it’s not doing its job.
> How does it sound?
Make sure your name is easy to pronounce. Test it by saying it out loud in a typical sentence. Just because a name is distinct doesn’t mean it has to be difficult, Nasim says. A word with unfamiliar or difficult pronunciation can be a turn-off to potential clients and is a bad choice for a company name.
Once your name has passed that test, be sure to use it everywhere your business is mentioned. Include it on everything from printed materials to emails. Whatever the medium, make sure your name always looks the same. “Be consistent in the naming style and the [font style] you use,” Malcolm says, “so that you are always identified with that name.”
While it may be tempting to keep tweaking the name or try to come up with something better, consistency is now of utmost importance.
“Don’t change it,” Malcolm says. “Once you get it locked in, run with it.”
IE