Although the most common reason clients come to my company for a new business name is a stern warning letter they’ve received from a law firm charging trademark infringement, the second most common reason for renaming is that the company has outgrown its original name in some way. If this applies to you, here’s how to proceed so you end up with a company name you can live and grow with for many years.
Perhaps you’ve outgrown your original name geographically. If you were River Valley Plumbing and now your service area extends far beyond River Valley in two directions, that is indeed a valid reason for finding a new name. Just remember that the new name does not also have to be a geographical name. Think about whether there’s something you particularly want your company to be known for, such as environmentally friendly supplies or fast emergency service. If so, those can be the themes around which you build your new name.
Or perhaps you’ve outgrown the specialty indicated in your original company name. For instance, you launched the business as Senior At-Home Care, but now you serve all ages and run errands in addition to providing personal care assistance. Here too, don’t assume your new name has to focus on exactly what your company does. Instead, you might look for a name that evokes the benefit of your work – that you eliminate the frustrations of daily life, that you promote independence for frail or disabled people, and so on.
To get started with your renaming, identify the business goals and objectives that you want the new name to meet. Who is the target market? How can you best position yourselves vis-
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