GNT #012: Your Name, or Not Your Name: Solving the Brand Dilemma

Read time: 3.5 minutes

If you are starting a business, one of the early decisions is naming it.

Do you name it after yourself - or another name??

It can be an overwhelming and daunting task for business owners and new solo consultants.

Your business name sets the tone and identity for your business.

It creates a first impression, it communicates your business strategy...

And it can be sticky or forgettable.

It's a big decision.

I went through this process in 2021 when I launched my consulting business, Catapult North.

I just went through this exercise with our new business venture that launched last week, Saunable.

And we re-branded our family travel vlog from EdandColleen.com to Good Plane Living in 2015.

In this article, I'll share the pros and cons of naming your business after yourself, and provide actionable tips to guide you in making the best brand decision for your business.

First, let's dive into the pros and cons of naming your business after yourself.

The pros of naming the business after yourself

1. Building trust: Naming your company after yourself can build a strong personal connection with your audience. It makes your business human. It signals that you stand behind your product or service and are willing to put your reputation on the line.
2. Brand recognition: Using your own name can boost recognition, as people are more likely to remember a personal name than an abstract business title.
3. Authenticity: When you name your company after yourself, you're sending a message of authenticity to your customers, which can be especially important in industries where expertise and credibility are key factors.

A great example of a successful entrepreneur that has branded their business after themselves is Amy Porterfield.

Even though she has a team behind her, everything about her business showcases her unique personality, knowledge, and expertise -- which is super approachable for business owners or entrepreneurs looking for online marketing expertise.

The cons of naming the business after yourself

1. Limited growth potential: A personalized business name may create challenges when it comes to expanding, adding new partners or separating your personal reputation from the business.
2. Selling or transitioning ownership: If you ever decide to sell your business, a personalized name may make it harder to find a buyer or transition it to new ownership.
3. Perception of self-focus vs. customer-focus: I hesitated even mentioning this. But I'll go head. To the rare few, naming your business after yourself may come across as self-focused vs. customer-focused.

A great example of someone that started with a business name after themselves and re-branded is Michael Hyatt.

According to Michael, "At some point, I crossed the line where it was no longer about me. It's about us."

He discusses this transition from "Michael Hyatt & Company" to "Full Focus" and his reasons why -- in this podcast.

Now that we've covered the pros and cons of naming the business after yourself, let's discuss actionable tips to help you make the decision.

Tip #1: Consider your industry and target audience

Think about the nature of your industry and the preferences of your target audience. Are they more likely to appreciate the personal touch that comes with a business named after its owner, or would they prefer a more neutral, corporate-sounding name?

Tip #2: Reflect on your long-term goals

Do you have plans to expand your business or bring on partners in the future? If so, a personalized business name may not be the best option. Consider whether using your name aligns with your long-term vision for your company.

Tip #3: Evaluate the uniqueness of your name

Is your name unique enough to stand out in a crowded market? If you have a common name, it might be more challenging to differentiate your brand from others.

Tip #4: Test the name with your target audience

Ask for feedback from your audience or trusted friends that fit your audience demographic. This can provide valuable insight into whether a personalized name will resonate with your potential customers.

By carefully considering the pros and cons, and evaluating your unique situation through these tips, I hope you are able to make an informed decision about whether to name your business after yourself.

May you find the perfect name to represent your passion and vision, and build a successful brand that stands the test of time!

I hope this article was helpful.

See you again next week!



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