Whats in a name……

So you have decided to start your own company.  You have the idea, hopefully the money and the talent to make it work now. What more could you possibly need…. well probably the most important decision you will ever make is what to call yourself as a company.  The name is usually the first point of reference and contact for your company,  do you make the name quirky, functional off the wall the decision is up to you the one thing you must do is make sure it describes adequately what you do or the area you are in.  No point in calling yourselves “speedy locks” if you’re a fish monger etc.  Although I suppose “speedy lochs” might work on some level.   When we came to choose the name for Coloursmith,  the first part of the name was easy,  colour as we are working in the textile colouration industry and Smith one because of the surname and secondly because the addition of smith to the end of trades, gives a feeling of tradition and security.  Locksmith,  Blacksmith,  being two examples.   There then followed a big debate about whether it needed anything else,  I have seen many companies out there called xxx associates or xxx Partners,  xxx Management.   I thought it added a sense of gravitas to the name etc.  So Coloursmith Management Ltd we became.  So all is well in the name world for the company,  well you would think.   We have been trading for almost a year now and it has become very apparent that the only time the Management section of our name is used is when the bank or the government write to us.  For everyone else it is just Coloursmith, so why have the Management section there,  no one is using it.  The other problem it brings along is that it causes confusion,  when you attend an exhibition, people look at the badge and see your full official sunday name Coloursmith Management Ltd and it must conjure up some non technical pretty useless type of image as one guy at a recent exhibition actually said ” oh management” almost as bad as saying “oh diarrhoea”.   When we attend industry events such as networking events or evenings ,  such as The Essex Business Club  and you meet people for the first time the first thing they do is see the management section of your badge and think you are some form of management consultants.  So it is important that you get the name right,  to this end we have currently lodged documents with the official registrar of company names to change the name of the Company from Coloursmith Management Ltd to Coloursmith Ltd.  With respect to all the management professionals out there it is not what we do and not an area we really want to be associated with.  So to this end why not make a change.   If you are a new company starting out then choose your name carefully,  I think the phrase “keep it simple stupid” springs to mind,  you do not need to try to “big up yourself” as the down with it kids say and add some fancy comment or title such as Management or Associates  unless you are in a field where this is a norm.  If you are looking to try to think of a name for yourselves there are several resources on the web  http://entrepreneurs.about.com/cs/gettingstarted/ht/business_name.htm this site will give you a lot of tips and tricks for developing your business name, and don’t be afraid to have a piece of paper covered in scribble with all different names on it,  your new business and brand will be in there somewhere.

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