Choosing a business name is arguably the most important part of starting a business. Botch this one and it will haunt you for a long time.

A winning business name is more than just a catchy phrase, it should draw business in itself.

Susan Ward of About.com Canada offers these six tips for creating a winning business name:

1) Memorable – but easy to spell.
2) A strong visual element.
3) Positive connotation.
4) Must include information about what your business does.
5) Must be fairly short.
6) Choose your company/logo colors carefully.
[Read more…]

On the About Us page, I tell the story of this company name that originally started as BCT then GFX. Both of these were already taken so I went with GreatFX.

The “FX” sounds like “Effects” giving you “Great Effects”… what you can get by marketing with professional business cards.

Not everyone immediately understands this but many people have. It may be one of the more obscure names I’ve come up with, but it works for me :-)

Recommended Reading:

How To Create a Great Business Name
8 Mistakes To Avoid When Naming Your Business
How to Name Your Business

Bookmark to:

When you first started your business, the excitement was raw and tangible. With every step forward everything in you wanted to jump for joy, though you contained yourself (most of the time). Your dream was becoming reality. Your business was seeing success. Life was just plain good.

Fast forward a few years. Same dream, same business, but with a different feel. You’re still making money and still a success, but the excitement is all but gone. So, what’s the deal?

When a business is in its first years, you are establishing a structure. The problem is, once that structure is established, everyone thinks that it shouldn’t change – to stick with what you know (because that’s the easiest way). It becomes a comfort zone and no one wants to depart from a comfortable location. Besides, very few people deal well with change.

Continue reading : Revitalize Your Stagnant Business »

Bookmark to:

Customer service is a key element in the success of your business. That’s not news to anyone. But a crucial element of customer service, that business owners often overlook, is being readily accessible to your clientèle. That can be a challenge, but technology lends a hand in making it possible.

Continue reading : How Accessible are You? »

Bookmark to:

When you encounter a potential client, investor or business associate for the first time, you want to make a great impression upon them. Though your personality has a lot to do with it, people often judge by what they see first rather than what they hear. So it’s important that you portray competence in your business industry not only in your knowledge and performance, but also in how you convey yourself.

Appearance
When you walk up to a potential client, it’s probably best that you “look the part” that would be associated with the type of business you are in. However, you don’t want to look sloppy either, just because you are in something like the construction business. Leave the disheveled look when you’re actually doing the dirty work, but not for your initial meeting with the client. Though many businesses these days carry a more casual element to “dressing up,” so you don’t always have to wear a business suit, you should still look nice, in dress slacks or a skirt and a nice shirt. Good hygiene, of course, is also important.

Continue reading : Communicating Competence »

Bookmark to:

Last week, the wildfires in Southern California received top billing on the news nationwide. While many people tragically lost their homes, there is no doubt that some also lost their business in the fires.

Many of us will never have to face out of control wildfires as a risk factor for the destruction of our business, but natural disasters of every kind span the nation. Anything from wildfires, to tornadoes, ice storms (which caused some devastation in my home town last winter), to hurricanes, there are a number of possibilities that can damage to your business. And you need to make sure you’re protected.

Insurance Coverage
First and foremost, be sure that your business (just like your life, health, home and vehicles) is insured. And, be sure that your business insurance covers disasters that are common to your area of the nation. If you live in the Midwest, be sure that tornado damage is covered. If you live on a coast, be sure that hurricane damage is covered, etc. Additionally, though wildfires tend to be more prevalent in the California area, fire damage can happen anywhere, so be sure, no matter where your business is located, that you’re covered if there is a fire.

Continue reading : Preparing Your Business for Impending Disaster »

Bookmark to:

We all have regrets - it’s just a fact of life. But we learn from those experiences, much like the flourishing entrepreneurs interviewed in Entrepreneur.com’s article If They Could Turn Back Time. Kristin Edelhauser Chessman interviewed nine successful entrepreneurs and asked them, if they could do it all over again, what they would focus on more during the startup process.

Their feedback reveals important steps that everyone starting their own business should know.

Have startup funds available. Whether you save up to start your dream job or find investors, it’s best to have funds available for spending on marketing and supplies rather than limit your options in the beginning.

Continue reading : Learning From Experienced Entrepreneurs »

Bookmark to:

Have you ever had a boss that wasn’t very articulate? He was often quiet and kept to himself. When he did have something to say, you often couldn’t follow due to his mumbling, incongruent sentences, or even elevated vocabulary. Oh, you nodded your head in agreement, but the conversation got you nowhere, and did nothing for your motivation.

As a leader, it’s important that you are able to communicate with your employees/followers in a way that is clear, concise and motivating.

A strong public address should do the following:

Continue reading : Leaders as Strong Public Speakers »

Bookmark to:

It’s an unfortunate part of everyday life. People lie. Though we’d all like to believe that every business person out there is honest and trustworthy, that is just not the case. And the lies they tell can often have a severely negative effect - not just emotionally, but also in cost to our business.

I tend to be a trusting person. I give people the benefit of the doubt and assume, until proven otherwise, that they’re telling the truth. That may be a great policy in regard to friends and family, but when it comes to keeping my business up and running smoothly, I’d be better off to be skeptical and watch for the signs that someone may be pulling the wool over my eyes.

Fortunately, there are some indicators you can watch for that will clue you in to someone who may not be telling you everything:

Actions
There are many ways that our body language can reveal our inner thoughts. Someone who is shy or nervous will keep their head pointed toward the ground. Someone who is excited will move around quickly.

Continue reading : Discerning Truth From Lies »

Bookmark to:

Have you ever been to a business meeting that, though the intention was to come up with great ideas for the progression of the business, turned out to be a total flop? Attendees were bored, few ideas were shared, and everyone left the meeting feeling like it was a waste of time? Obviously, such events are a very little benefit to the development of your business, and there are few ways you can remedy that . . .

Meeting Time Equals Play Time
In other words, make the meeting fun. Don’t let everyone go wild of course. It needs to be organized play time, so to speak. For example, start things off with a game. As a suggestion, I read how one business owner asked his employees to write down something no one else knew about them prior to the meeting. When the meeting started, he passed out the responses and the employees had to guess who belonged to each, providing a little fun and humor to get things moving. Another employer brings tinker toys and tangram puzzles to get cognitive juices flowing. Not only do such ideas make the meeting more enjoyable, but they help your employees to relax and be more comfortable around each other and you.

Continue reading : Brainstorming Motivation for Your Employees »

Bookmark to:

You are a young and successful business owner. You already have many of the things you set you mind to accomplishing - a steady and lucrative income, success at a dream . . . there’s just one important thing still missing - a successful relationship in your personal life. But who has time to make that happen?

Granted, I can’t say that I understand completely where someone in that position may be coming from, since I started pursuing my entrepreneurial dreams after establishing my family. But many entrepreneurs start pursuing their business dreams so young (early twenties), that, by the time they feel comfortable with the path their business is on, they realize that they are still somewhat alone while many of those around them have gotten married and started families.

In all seriousness though, if having a family is something that is important to the future you see for yourself, the task at this point can seem arduous. Especially if your successful business takes up nearly every waking hour of your day. You may get noticed, after all you’re successful and easy on the eyes, but rarely do the dates turn into relationships.

If you’re at a point in life where you are ready to find a balance between running your business and finding that right person, here are some tips to get you on your way:

Continue reading : The Business of Dating While Owning a Business »

Bookmark to:

There are many entrepreneurs out there who move on, selling the business they created from nothing to a larger company. The sale happens for any number of reasons: the owner just couldn’t make ends meet but there was a market for the product, the owner was ready to move on to something else, or the company had reached a plateau that only a larger company could overcome.

Often these entrepreneurs have a change of heart and want to buy their business back. Many times this is because they just can’t let go and are disappointed in the way the new owners are handling things. On the other hand, the new owners may not be as pleased with their purchase as they anticipated and may even offer to sell the business back. Regardless of the reason, an entrepreneur looking to buy back his previously owned business shouldn’t dive right back in without doing a little leg work first.

Continue reading : How to Buy Back the Business You Sold »

Bookmark to:

It’s getting harder and harder to find good help these days. And there are many factors contributing to the problem that you, as a business owner, need to be aware of.

First of all, there is an increased number of young people seeking jobs that require more brain skill than brawn skill, which is making an increased shortage of employees for the manufacturing industry. Mechanics, engineers, freight and delivery truck drivers, machine operators and construction workers are some of the hardest positions to fill.

Another issue is a lack of adequate compensation for the demanding job. Teachers, for example, on a national average really get gypped when it comes to their annual salary and benefits. Though many seek a teaching career for the joy of the work, rather than the pay, there is also a lack of valuable, qualified teachers all over the nation because many just can’t afford such limited pay to support their own families, no matter how much they love to teach.

Continue reading : Hard to Find Employees »

Bookmark to:

As a business owner, there are many things you have to worry about. Bills, supplies, meeting customer demand, hiring employees you can count on, choosing the right price for your product… the list goes on and on. One thing that may seem to be moved to the back burner in the midst of all of these concerns is yourself, more specifically, the personal funds you get out of the company.

So, how and when do you pay yourself for all of your hard work? Let’s first focus on the when.

When
To make things easier on your company’s budget, it’s best to pay yourself when you pay your employees. For example, if you pay your employees bi-monthly, then you should be paid on the 15th and 30th as well. This makes for easier accounting for the business, and leaves no doubt as to what you can expect.

Continue reading : How and When You Should Pay Yourself »

Bookmark to: