Issue link: https://docs.hic.us/i/403552
C C h h a a p p t t e e r r 2 2 – – B B u u i i l l d d i i n n g g A A B B u u s s i i n n e e s s s s F F o o u u n n d d a a t t i i o o n n After getting an idea of who you will be servicing, and what type of equipment you will need, it's time to take the next step. Now you need to identify all of the OTHER DETAILS that go with starting a new business. Once you have a grasp on this information, then you can begin laying the foundation for your new enterprise. Choose A Business Name This may seem quite trivial, but it's the logical place to start. Once you have a name, you have given your project an identity, and a degree of substance. Plus, it's a great motivator, and shows that you are serious about your new enterprise. You will be much more effective in your conversations with other business professionals such as bankers, accountants and lawyers, if you are able to introduce yourself by personal name and business name. In addition, if you choose to finance your equipment through a leasing company, you will find that they only lease to Business's not Individuals. Your business name is extremely important, and should not be treated lightly. It's more than a title, it's a major marketing tool! You need to select a name that is memorable, and sticks out in people's minds. Two Examples of Real Business Names: Wicked Stitch of The West Cape Fear Embroidery Works. Creating A Business Name This information is taken from an article written by Jimmy Lamb for Stitches Magazine. One of the hardest tasks for a new business owner is coming up with the perfect name for their business. Too many times the importance of this issue is downplayed. Your company name is a very important aspect of your business, especially in retail, because most people do judge a book by its cover. For example, if there are several Embroidery Shops in your area, a potential customer will probably choose the one with the name that is most appealing to them (providing that they have no other information to go on). After all, most people don't have the time to check out each business, so they make an initial choice based on the business name. (Think about how many times you've probably done it yourself.) So, with this in mind, lets look at some basic rules for creating a good business name. www.hsi.us care@hsi.us 26