Page 49 - Network Magazine Fall 2018
P. 49

In almost every instance, an evocative company name will help your marketing efforts and give your business a new personality and spark.
But before you decide to rename your business, you must take the following steps:
1. Define your strategy.
If you don’t have clear, strategy for your company, start with that. An undifferentiated business only leads to
a boring, bland brand. You must have a clear under- standing of why you are in business.
2. Establish a budget.
Although your name might be hurting you, renaming your business takes time and money to do it right. Invest in a company who can help you craft a name that serves as rocket fuel for your brand. A failed renaming effort can set you back even further.
3. Fix your company first.
A new name cannot fix a broken business. A new name without brand changes is simply not going to move the needle. Make sure a new name reflects who you are as a company and not repackaging the same problems.
Change is hard when it comes to your company’s name. It’s why I call the process “renaming your child.” After all, it’s what you’ve been calling your business since it was born. To call it by another name may feel odd or uncomfortable and you may feel like your giving up part of your identity. But, in some cases, a name change is exactly what you need to get to the next level.
 We’re bullish on the future. Yours.
The world is changing fast. While change can provide opportunities, it also raises questions about the future. Through honest conversations about your life and your priorities, we’ll find out what you want your future to look like, and develop a strategy together to help make it happen.
 The LL Group
Brett J. Albinson
Financial Advisor Portfolio Advisor
973.245.4529 brett.albinson@ml.com
Merrill Lynch
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