When Faulkner famously advised, “kill your darlings,” we’re pretty sure he was talking to business owners. 10 years ago you chose a name for your business. You may love it, but that doesn’t mean it works anymore — or that it ever did. You want to grow, and you want a name that will allow you to do that. In the case that you are legally bound to changing your name, there is no time for long goodbyes. Kill it and move on. Here are a few things to consider when renaming your business:
Re-Root for Success. After 5, 10 or even 50 years running a business, it is easy to lose sight of what you’re doing it for in the first place. Return to the root vision and values of your business, and the renaming process will come a lot easier.
Evolve from Descriptive to Evocative. If you sell mobile phones, and you never plan on selling anything other than mobile phones, then maybe you will be called The Mobile Shop forever, and this post isn’t for you. But if you want to expand into an international electronic superstore, choose a name that is symbolic of your business, mission and vision. Apple’s name, for example, isn’t just a half-assed obscure decision, and it isn’t a description of their products either. The apple symbolizes immortality and knowledge, a part of the company’s vision that was translated into a recognizable, household name and logo. (It also symbolizes temptation and the fall of man, but that’s another post).
Customers will hate it, at first. People don’t like change, but renaming your business is really for your benefit, not theirs. Expect criticism, because until your new name has context, the change is a target for scrutiny.
Do the Damn Thing. Renaming (or full rebranding) is painful, grueling work. But it needs done. Choose a team that has the courage, vision and grit to do it right.Still not convinced renaming your business is the answer?
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