Naming a business after yourself may mean missing opportunities. Your name may not describe what your company does. This can confuse potential customers. A business name should communicate key information about a company’s offerings. Using your own name does not achieve this. It also ties the brand directly to you as an individual. If you ever want to sell the business, a new owner may want to rebrand it. This is easier if your personal name is not part of the existing brand name. Additionally, your business may expand over time to offer new products or services. A name linked to you as an individual will not adapt well to a changing business. Instead, choose a brand name that describes what your company does. Make sure it is unique and memorable. This will allow your brand to grow over time, without needing to change the core name.
Using your own name to brand your business may appear a simple solution, but in the long term, it’s a much more difficult way to create a recognised and respected, stand out brand. Having your name on your business could disenfranchise the very people you are trying to attract. Donald Trump creates an emotion of wealth and power…but what has that done for his business brand, especially in the political arena?
You could consider using CFC. Now, why should you do this?
- Shorter business names are easier to say
- More memorable
- Suitable for multiple marketing strategies
And if a phrase or word is vital to you, you can also use that in your business name. Take Transed, for example, a company that provides transportation for the elderly and disabled. The word ‘transport’ is essential to their business identity.
Using your personal name means presenting yourself as an individual contributor and keeping the focus on you. Coming up with a brand name, on the other hand, will create some "daylight" between you and the business. Avoid limiting growth opportunities with a name that ties you to a person, place, or thing instead of the company’s purpose and offerings. Take time to choose wisely.