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Saturday, May 1, 2010

What's in a Name?

Ah, finally, the end of a very busy week.  Though, now I am trapped inside, trying to catch up on things that didn't get done during the week, on this beautiful day.  Well, I'll probably sneak outside a little later to catch some rays and fresh air.

So, I don't have too much to report at this point.  I'm working on a necklace to go with the golden bangle.  I still have to finish Mom's Vest (yes, I know, I know...) and I've got tons of ideas swimming through my head, but a lack of time and energy.  Yes, the energy is lacking because it's all been going into trying to get the 101 Crochet Tips book done!  I'm happy with my progress on it so far, but it feels like there's still a lot to do.

But, let me leave you with another entrepreneurial thought before I go:  What's in a Name?  I know, a rose smells as sweet no matter what you call it, but you need to think about a good name for your business, one that will make sense to your potential customers or at least grow to make sense.  I chose Many Creative Gifts because I wanted to leave room for other items besides just crocheted ones.  I liked the play on words too (my many gifts in terms of creativity as well as the many potential gift items I hope to be able to offer customers).  You, however, might want to pick a more descriptive name if you are sure that you want to concentrate on one type of product or service.  Back to our example of rhinestone widgets -- you might want to go with "Rhinestone Widgets" if it's not already taken.  Or to personalize, you might want to say "Phyllis's Rhinestone Widgets".  Some people just use their own personal name as the name of a business (doesn't seem to have hurt Martha Stewart or Jonathan Adler!).

It's not like you can't change your business name later, but to avoid losing time, money and creating market confusion, spend the time up front to choose a business name that you think captures the essence of your business and what it has to offer (and will have in the future).  Oh, and another really important thing, do NOT search for availability of names on domain name services until you are ready to act -- if you search for a name and then a day or two later, go back to register it, it will most likely be gone!  Computer programs are set up and ready to purchase searched names, and then, they are more than glad to sell you your desired name, for a premium of course!

Ok, back to work for me (or is it time for that outside break yet?!)

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