This post was written by Jennifer Taylor. Jennifer Taylor is the owner of Taylor’d Events Group, a planning firm that specializes in celebrations of all kinds in the Pacific Northwest and Maui.
Let me start with a disclaimer: I will not be telling you how to create, plan, or market your business since that process is different for everyone, depending on what kind of business you want to start and your goals. Instead, I’ll point you in the right direction of finding those answers and getting everything settled.
No matter the idea, I am here to tell you that it can be done – I promise!
What’s In a Name?
At this point, you should already have a good understanding of what you want to do and who your target audience is. With that in mind, think about what kind of name best suits your company. While it may seem natural to use your name, consider whether you’ll want to grow or sell your business one day. If so, stay away from using your name as it may equate with a personal brand, rather than something that can be transferred to other team members or potential buyers.
Your business name also defines what you do. If you’re interested in planning all types of events, don’t pigeonhole yourself by including the word ‘weddings’ in your name because it may deter corporate or social prospects. I also advise to stay away from words like “perfect,” “greatest,” and the like – you don’t want to have that one customer tell you that their day was not perfect.
Once you have a list of potential names, test them out with friends and family to see which ones stick. Run searches on Google, social media, and your state’s business registration page to ensure that it isn’t already in use. While you’re at it, check in on the requirements that you’ll need when registering your own business.
The More, The Merrier
Once you have a good idea of your name, brand, and services, it’s time to bring in your business development team. If you don’t have an accountant already, find one that works specifically with small businesses so he or she will have a good idea of how to structure your business. This will most likely be about the time that you’re ready to register your company with the state, in which case, congratulations! You’re a business owner! But you’re not done yet… Continue reading