When we first launched Open Communications back in 2008 one of the most difficult decisions was what to call the agency. We wanted to choose something that would represent the business – give us an identity that we could build upon and go some way to explaining what sector we work in.
One thing that we never even considered was naming the agency after ourselves. I always find it quite strange when companies use their own names for their business, not least because I think it’s dangerous.
If you have a business that is performing well and has a fantastic reputation then there shouldn’t be a problem but what about those who perhaps for no fault of their own find that they are faced with more challenging scenarios. As an example, an employee hits the headlines for breaking the law and as a result the owner of that business is also referenced because their name is also the company.
There have been examples in the media recently where the Directors of businesses have been arrested and questioned by the police over serious allegations and although this is personal and nothing to do with the company they own because the organisation is named after an individual the reputation is tarnished by association.
The tendency for legal practices and estate agents seems to be to use surnames, which is less risky but still lacks any creative flair. In my opinion a business name gives personality to a brand and entrepreneurs need to make the most of the opportunity to share that with their prospects and clients.
A company that I came across recently was a great example of a simple name that told a story, ‘Awesome Merchandise’ – a merchandise company that claims to offer an awesome experience for customers. The name is straight to the point and you know what they do without having to ask. It also shows that the team are confident with what they offer.
So, for anyone reading this blog who is considering starting a business, please think carefully about how you name your company. It may seem like a trivial part of the process but it is incredibly important and will form the basis to your biggest asset – your reputation.