Up Your Value
How to really grow your business
by
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Chapter 22
Name Value
Does the name Schweppes add value to the soft drink?
Some businesses make their name an asset. Others are forever rolling a stone uphill trying to overcome a non-performing name.
Usually one of the first actions when starting a business... select a name. The important activity generally gets all of about 75 seconds. Presto, there you have it. Once business cards are printed, the name is etched in stone. Never mind that we didn’t put it up for scrutiny, or test it against attributes the customers want.
I ask you "How much would it cost you to change a poor name?" More importantly, "How much will it cost you if you don’t change?"
Name benefit
A funny little episode recently illustrated the magic of the right name. A friend of mine was at a trade show demonstrating an Internet program where one can talk to people around the world. You simply connect a microphone to the computer and the program allows you to contact people who post their names on a chat board. My friend posted her name on the board. But there was very little response, which made it hard to do the demonstration. So my friend who is quite resourceful, changed her name on the list to "Bubbles". Amazingly... instant response.
What attribute would people be looking for in someone to chat with on the line? A sparkling personality! Exactly, and Bubbles tells it all in a name, probably more than any other name she could have chosen. It conjures up someone with an effervescent personality. She said it all in one word. In the name!
Think about the power of "Bubbles". Now think about your choice of business name. Does it attract business? Does it convey the main attribute of your product or service? Does it speak to the benefit of what you do? Does your name position you against your competition? Does it differentiate you, make you stand out, and place you ahead simply because you show in the name that you understand what the customer is thinking about?
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About the Book
UP YOUR VALUE...How to really grow you business. This book offers entrepreneurs and business owners a real boost. It tells you that the only way to increase your sales and profits is to increase your value to someone else and how to do that. Learn how to ‘up your value’ in 3 different areas... 1. you personally as a manager, a marketer, as a person 2. your product or service 3. the valuation of your company...asset value Learn about the ‘value formula’...how people subconsciously evaluate. Why they buy or don’t buy. Learn a whole raft of how-to tools and skills to make yourself a value expert.
About the Author
Dennis O'Neill, the business growth coach, works with a diverse group of firms to help grow their business. His front-line experience includes 7 years as director of research for a national organization, director of marketing and sales for two conglomerates, VP/General Manager of a noted communications company and successfully operating his own business. He offers knowledge and understanding of the value formula, business growth secrets and keys to profitability. His questions create focus; his ideas provide competitive advantage. Dennis loves training people and enjoys keynote-speaking appearances. Clientele include advertising media, retailers, hospitality establishments, service organizations and manufacturers. He operates from Niagara-on-the-Lake, just outside Niagara Falls.