What’s in a business name. Today I’m not looking at the marketability of the name, but the thinking behind it.
There are some people who name their businesses after family members and relatives. Some may think this to be noble; that is until the actual functionality is observed.
There are people who name their businesses after their parents, they then do their parents’ names a great dis-service in that rather than honoring the legacy their parents may have developed over their life time, they drag down their parents reputations.
What do I mean? Here are a few:
- NSF cheques
- Unpaid bills
- Ill treatment of staff
Is this honoring the name of the business after whom it has been named? Is it standing up to the principles outlined in your business plan. Are you business practices in keeping with expected business standards for doing business? You should address any deviations quickly.