What is in the name?

What is in the Name? - Freelance WorkTips

Planning to launch your own business? Choosing the right name for your startup business is a critical part of staring your business. It not only distinguishes your business from your competitors but, it also can make the difference between success and failure. The name you choose reflects on what your business is all about and what your potential customers will perceive of your business. Your business name will reflect your company’s values and its distinguishing characteristics.

Moreover, you need to ensure that the name you choose for your business can be registered and is also web savvy i.e. is the domain name available?

Remember there is no singly correct way to choose the right name for your startup business, but the only way your business will succeed if your products or services score well on quality. There are many examples where the business names are ordinary and simple and are doing well in the market. Similarly, there are companies with very unique and catchy names that are not doing very well. So it boils down to this that the business name does create an impression in the mind of the potential customer but , ultimately the quality of your products or services which you offer will decide the future of your startup business.

In general it is advised that the business name should be catchy, simple, and easy to spell and pronounce. Remember that in trying to be catchy and different the name shouldn't be too confusing or vague for the customers to understand or you might end up loosing the customers.

Think about what you want your company name to convey.

The business name you choose will appear on your business cards, letterheads, website, promotional materials, and everywhere else, so you should consider what you want your company name to convey. Service oriented businesses should consider a name that includes or describes what the business does so that it will be easy for their prospective customers to recognise what services the business provides.

It is very important that you think hard before selecting a name for your business because it is going to effect how your customers feel about your business. The more obscure, difficult to pronounce, or spell the harder it will be to remember.

Brainstorm to identify name possibilities.

Once you have decided on what you business name will convey, start your brainstorming sessions. In these sessions think about words that describe your products or services, the benefits of using your products/services. Think of words or phrases that will evoke the feelings you want your customers to feel when they see your business name. Use dictionary, thesauruses, and any other resource which will help you. Form a list, go through any web service and see how many have been taken already. Check www.uspto.gov if the potential business names are not already a trademark.

Once you have shortened the list check the rest of it to see how many have been registered as domain names. This step will likely cut down quite a few potential names away. Lastly, Google your potential online business name in quote to see that no competitor appears on the name you have chosen.

The moment you decide the name of your business, make sure to register it, claim your domain name, your social media identity and if required trademark your name.

While choosing the right name for your business few things to consider:

•While abstract words can be catching, like Yahoo, Google, and Amazon the more obscure a business name the harder it will be to remember and can lead to confusion and set your business back in terms of awareness. So choose a familiar name, which is easy to pronounce and remember.

•Misspelled words not only can make your business name stand out but it can also help you in domain name registration. Examples of misspelled names are flickr, and tumblr. While it may be creative to misspell words it does not always work to your advantage. On the other hand misspelled words will not be easy to lookup in the search engine.

•Two Syllable or Compound words can be used by combining 2 words together to name your business. Examples of this are Facebook, Skillshare. This will not only be useful in making your business name memorable but, it can also help you in registering your domain name easily. Choose words which will not only appeal to you but will also appeal to your potential customers.

•Initials like IBM and Acronyms like AT&T can be used if your business name is long and multiword phrase (an acronym is composed of the first letter of each word in a phrase), but a poorly chosen business name can result in unfavourable acronym.

•The name needs to sound good while saying aloud. Use a name that has meaning and conveys your business message/benefits.

•Avoid names that are too narrow or too literal. So don't use names which will restrict your growth in the future. For example when I started out my business in content writing many of my friends advised me to select a name which had writing or content in the business name, but I decided on "outsource2me", this way when I decide to expand & go into web designing and more I won’t need to change the name of my business.

•You can use Keywords to name you business by making use of words which directly give an idea about the business. No frills, just directly to the point.


In conclusion I would say that it is very important that you think hard before selecting a name for your business because it is going to effect how your customers feel about your business.

As always you are welcome to post your questions and comments below.

Have a great and prosperours life.

5 Esstential Tips for Freelancers

1. Market Yourself – Network, Network.

You need to tell people who you are, what you bring, and how you could be service to them. You have to constantly market yourself for success and build a referral network.

Internet is a valuable tool for freelancers, especially if you have website. It serves as a point of contact between you and your potential clients.

You have to present yourself as to who you are and what you do and the skills and values you bring. Market your business as it is the key to a steady flow of new and repeat clients. Market on how your freelance business is better then similar business.

It’s not enough to what you know but, who you know. Use social media networks like Facebook, Twitter, and Linkedln and other online communities like freelancer.com to meet, greet, and expand your network, and get your business in front of prospective clients.

Through these networks get feedbacks to fine tune your product or service. Not only that, you can get your first break through these networks and referrals. These sites can also be used to develop and maintain relationships with clients. 

2. Get to know your competitors.

Study and research your competitors in trade journals, social sites, freelance forums, and visit their website.  Pay attention to what your competitors do. Learn from them, they may be doing something right which you can be implemented in your business. Understand that you don’t know everything and be open to new ideas and new approaches for your business success.

You need to know who all your competitors are, not just the obvious ones, but the ones who are meeting the needs of your customers with products/ services which you do not offer.

Resist the urge to compete on price. Trying to undercut every competitor is a losing race. Instead, focus on providing greater value.

3. Follow-up.

For a successful business it is very important to follow-up to maximise opportunities. Stay in touch with them long after the sale, puts you ahead of the competition. Customers will feel appreciated with a follow-up. People do business with people they KNOW, LIKE, and TRUST. A committed follow-up strategy will increase your referrals with your customers and clients. By doing a follow-up you can remind them about your product or services you are offering. Follow-up can also be an acknowledgement for using your product or services.

4. Get Organised.

To be successful in any business it is very essential to be organised especially for a freelancer as he/she is responsible for everything. You need to have a good plan and organisational skills. Take your time and plan out all necessary steps to achieve success.

Make sure your work environment is conducive to maximise productivity. Keep it neat and tidy and minimise distractions. Schedule your work hours and set a routine. Being organised will help you complete tasks within time. Have a check list or to-do-list as you complete a task heck it off your list. Schedule your time; keep a calendar of meetings and deadlines. Set up a system for your workday; effectively prioritise email correspondence by using an auto filter.

5. Stay Focused.

You are not going to start making money the moment you start your business, it takes time so stay focused in achieving your short term goals. Constantly keep doing the things necessary to be successful, because success will not come in one night. Set goals so as to measure how well is your business doing, devise a plan to reach and achieve these goals. Always be on the look out for ways in improving your business and make it stand out from the competition. Keep a positive attitude, as a good attitude is a great asset for a freelancer. Believe in yourself.

Conclusion:

Starting and running a successful business can be rewarding and challenging. There are few things more satisfying than launching and owning your own freelance business. Starting a business is not complicated, but running it successfully requires focus, discipline, perseverance, and motivation. However, success will not come over night - it requires a long-term focus and that you remain consistent in challenging environments. Be prepared to adapt, innovate, and invigorate, so that your freelance business will break-out to the next level of profitability. Remember in business the only constant is change, so adapt and prosper.

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Finding Your Niche

A “Niche” is defined as a "situation or activity specially suited to a person’s interest, abilities, or nature". (American Heritage Dictionary 4^th edition)

Knowing that we want to start a business is not enough; the important thing is knowing what kind of business to start.

Your online business should be something you are ‘passionate’ about, it should be something which interests you or suits you nature. Working for something you are passionate about will yield great results. If you are passionate about something your commitment towards it will be very high. Your passion should dictate your ‘niche’.

Having a specific knowledge/skill or your work experience can also be your niche. I recommend grabbing a pen and a paper and start jotting down atleast twenty things which you are passionate about or have knowledge about.

While brainstorming for new ideas for your future online business, keep in mind that a successful business is the one which is providing a product or service that others will actually buy or pay for. Satisfy the need of your target market, and your target market will keep your business profitable.

Beware that an idea may seem promising, and destined to make you rich, but the real test will only come when you actually launch your online business. So what ever the idea/niche may be, it should be researched well before investing your time and money into it.

• Some of the questions which need to be asked:
• How big is the niche?
• How competitive is the niche?
• How profitable is the niche?

Google your idea/niche (in quotes) and look for these things:

• How many results?
• What kind of sites are in top 10?
• Who is your competitor?

If the results are few, then your niche may be too vague. If it is too many, then you need to zoom in on a tighter niche.

Action Steps

Gain the knowledge of your niche and what the market wants. There are so many online business ideas to choose from, so be sure to pick one that you’ll enjoy running and that will keep you motivated.

As always feel free to ask question or leave your comments below. 

Until next time take care!

outsource2me