The World Business

Posts Tagged ‘Successful’

Apple Inc. Chief Executive Corporate., Steve Jobs became a star in American business. His success brought Apple from bankruptcy into a company renowned sparkling encourage American media, MarketWatch rewarding tribute to Steve as the CEO of the top in this decade. MarketWatch, Dow Jones-owned subsidiary of United News Corp media magnate, Rupert Murdoch rate that Apple has developed into the most successful technology companies in the world.

The rise of social networking sites and blogs, an Indonesian Business woman utilized properly. Together with her husband, the woman continues to update the image was displayed on blogs and social networks so that visitors can see their latest products. Unexpectedly, even the presence of social networking websites and thus provided a golden opportunity to open a network abroad. Until now many countries which have ordered prayer mat. There are from Australia, Singapore, Malaysia, the United States and even Qatar. All thanks to the website. No half-hearted, reservations can reach tens of prayer rug. Booking area is also a lot to arrive. There are booking through the internet, but there is also a prayer mat by telephone because he wrote a phone number.

It is easy to stay motivated when things are going well, but how do you keep motivated when the home business you had such high hopes for just isn't making the money you thought you would. Motivation is the key to having a successful home business because it will be the one thing that keeps you going when the chips are down.

One of the most important attributes a person who wants to become an entrepreneur must have is self-motivation. Everyone wishes they were self-motivated, but the truth is, not everyone is. It is not some terrible personality flaw if you are not, but don't fool yourself into thinking you can operate a home business if you don't have this vital character trait.

Running a business comes with its share of problems, in terms of both mechanics and aesthetics. In my experience, one of the most important challenges every entrepreneur faces is the naming or re-naming of a company. I’ve been involved in the creation of more than a dozen companies, and I have had the privilege of advising on the development of hundreds of others. Here are some of the lessons I learned when it comes to picking a name that will garner success, now and in the future:

Easy-to-Remember Names

Names that are easy to remember are a sure-fire way to increase advertising effectiveness. These kinds of names are easy to pronounce and often have a visual component (think Target and Duracell). The difficulty, though, is that they can be tough to trademark. Also, the specificity of easy-to-remember names can limit a business to a particular region or industry. The perk of these names, however, is their high spend-to-result ratio. If an entrepreneur picks a highly memorable name, he or she can spend relatively little and still net huge results in short working less and making more.

Trademarking That Works

By choosing a name that is easy to trademark, entrepreneurs can ensure that they will have a strong legal claim to their business identity. These kinds of names are often "made-up" words like Novartis, Accenture or ZymoGenetics. Other protectable names are based on unique proper nouns, such as Phillip Morris or Martha Stewart. One drawback of easy-to-trademark names is that they can be confusing. Also, entrepreneurs who choose these names can expect to spend more money on advertising to help customers recognize the name and understand the business behind it. This leaves entrepreneurs with a lower spend-to-result ratio.

Nonsense Names

Some companies have reaped great benefits from names that are both familiar enough to be memorable, but distinctive enough that they’re relatively easy to trademark. These are often called nonsense names. Some nonsense names—Apple, Amazon and Yahoo—combine a known word with an unexpected industry. Other nonsense names combine two familiar words people find easy to pronounce and envision, but meet the uniqueness criterion for trade-marking because you wouldn’t expect to see the two words used together. An example of this is Yogabutter (a local yoga studio) and Talking Rain (a soft drinks pioneer). I experimented with this nonsense approach by creating Purespace, a business that did short-term space rental for holistic practitioners. The name provided customers with a sense of our business, and it bred inquiry.

Testing the Name

I’ve learned that the worth of a business name is in the reaction of the customer or trademark attorney. To determine if their name has long-lasting appeal, entrepreneurs should find out if it allows them to access the tools they need for business. One way to do that is to Google the name. Business owners should ensure that someone isn’t already using the name—or something similar—in a way they wouldn’t want associated with their own business. This could cause confusion and lead to potential legal problems. When in doubt, it’s best to consult with an intellectual property attorney.

A carefully selected business name can save thousands of dollars a year in advertising costs, and it can keep the company on an extended path of greatness. The wrong name can sink a business by making marketing expensive and frustrating, or making it difficult to protect your business identity. When it comes to naming a business, you can never be too careful. After all, your success and future are on the line.

Log on to http://www.chrisrugh.com/ for more information!

Christopher Rugh ,EO Seattle

A serial entrepreneur, Christopher is the founder and CEO of several companies, including 1-800-Good Credit, Worldwide Telegraph and CustomTollfree.com. He has
been an EO member since 2001. You can reach Christopher at cmb@customtollfree.com.