Our experts share insights on naming, branding and starting a new venture.
Tip: Make Sure to Pick a Company Name That You Can Legally Use. A great name is worthless if you can’t use it. A name may sound like a perfect fit for your business – but caution -- it could be “trademarked” making it essentially unusable. That’s why Brandings.com screens and checks all the names in our catalog. Learn more about company trademarks.
Trap: Start With Insufficient Capital. A big mistake many start-ups make is securing just enough capital to open their business – not run it. Develop a financial profit and loss projection for the first five years of operation. Calculate your capital requirements using three scenarios – best case, worst case and likely. You don’t want to run short on funds just as your start-up really begins to take flight.
Tip: Set Measurable Start-Up Goals. If you can’t measure it, you can’t manage it. You’ll want to have clearly defined goals for every functional area of your start-up. From these goals you can set specific and measurable performance objectives.
Trap: Fail to Plan. Before you launch your new venture you’ll want to make sure that you’re positioned for success. Temper you zeal and take time to structure a “blueprint” for your new company. The time you spend planning at the very beginning of your start-up could well mean the difference between success and failure. Here’s a great resource to help you plan: Business Plan Template.