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How To Begin Changing The Name Of Your Business To Help You Make Money On The Internet

May 24, 2008
When you choose a name for your business it's like choosing a name for a child. You get usually one shot, so you'd better get it right the first time. But that's not always true. A growing business can change a name with some strategic thought.

Granted, there are justifiable reasons for a name change. Perhaps you bought a business with someone else's name and you'd like that operation to reflect you. Maybe your operation has changed so that the current name simply misrepresents your services.

Here are some reasons to definitely change a business name to help you make money on the Internet.

Do you still have a low brand equity? A name change can work if your company still has low brand equity, that is, the estimated monetary value added to your brand because people know who you are.

On the other hand, if your local brand equity has grown greatly, a name change could end up costing more than it's worth. Even the smallest business brands its products with its names.

Is the name too complicated? A foreign name, funny spelling or a word length that rivals super-silly can seem cool early on, but your company is doing itself a disservice if people always mispronounce it or can't remember it.

Is the name too generic? It may be time to consider a name change if it is too similar to a competitors, or it doesn't get across what you offer. Write down the names of your competitors and ponder how your name stacks up.

Can you afford it? Changing your company name isn't cheap. You'll have to change your marketing materials, ads,logos company stationery and so on, and make legal changes if the company is incorporated.

Keep an eye on your functions because an effective name must always mirror the primary focus of your business' activity. With that in mind, give some thought to a fresh name if what you do has changed substantially and a new name would better reflect the change.

Approach a new name change carefully. No matter how immediate or compelling a quick decision may seem, it's imperative to approach the decision of a name change as slowly as possible.

Why you are doing this is to help you to make money with your business on the Internet and if you lose all of your identity you may realize that it's not worth it. So sleep on it for a while.
About the Author
Court is a make money internet expert and also provides internet marketing services.
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