No doubt, one of the most important and difficult decisions you will have to take as an entrepreneur is how to name your business. There's obviously no right and wrong path that applies to all, but it is worth exploring the options and all of their positive and negative sides. The most common choice you'll have is whether to call your brand after yourself or to give it its own name. So today we are going to talk about what you are getting yourself into when choosing either.
Branding Your Name
This is the preferred route most freelancers, consultants and fashion designers go at the beginning of their entrepreneurial journey. It works well for individuals who are in the centre of the services they provide. Let's see what's good and what's not so good about going with the "branding your name" option.
#1. High sense of personality and transparency. - When you use your own name as your brand it is easier for people to connect with you and trust you. Also, in content marketing terms, being personal is vital for your success. It's easier to show your personality when your entire brand revolves around it.
#2. Perceived as affordable. - Most consumers will think that you offer affordable prices for your products or services if your brand your name rather than come up with a name for your brand. Potentially, it can bring you more clients and assuming you do your job well, many recommendations. That, however, doesn't mean you should be working for peanuts and entertain the unrealistic expectations of some "bad apple" clients.
#3. Easy to remember. - Provided your name is not really hard to pronounce (on a global scale), it could be the best strategy if you want people to remember your brand and services easily. It even makes payments to you more simplified and we all know consumers love what is convenient for them.
#1. Blurred line between personal and business life. - We said how important it is to be personal with your target market, but you also need to take every care to not become too personal. It would be easier for people to dig up the skeletons in your cupboard (we all have some) if they know your name and you are all over the Internet.
#2. Expansion Issues. - Branding your name can cause some trouble if your business expands. In such situation you are very likely to go through rebranding in order to accommodate the growth of your venture. Then again, if you've chosen to go only with your surname, expansion won't be an issue as it was the case of Lloyds, Morrison's and Disney.
#3. Work harder for recognition. - People may trust your personality if you show it, but they could doubt your professional experience and capacity. Generally, when big clients are looking for marketing services for example, they will turn to an