When choosing a name for this company, I made an initial mistake which I had to mend relatively quickly. The mistake? I chose sentimentality over practicality. The original name of K-CORE BUSINESS CONSULTING was PEARDUYNE CONSULTING.
Now, take a moment and try to pronounce the word: PEARDUYNE.
Got it? Great!
If you pronounced the name “PEER-DINE,” then congratulations, you join a handful of individuals who pronounced it correctly. If you didn’t, then you will understand why the change in name was necessary for the company.
It’s not that I didn’t like the name – in fact I loved it. It was a combination of my last name and my wife’s maiden name. To me, it had meaning. But to the public, having a name which cannot be pronounced or lacks memorability is not the first impression you want to make.
You spend months, years even, developing an idea for a business. You pour your heart and soul, your financial resources, and private investor funds into researching and developing the perfect business model. You are constantly brainstorming – the business becomes an extension of your thought – it becomes a part of who you are. It’s like having a child. And because of this, it becomes difficult to separate sentimentality from practicality.
But sometimes, for the sake of the business’ survival, that’s exactly what you need to do!
There have been many large companies who have changed their name over the years to accommodate the growth of their company and/or their customer perception. Consider these SIX COMPANY NAME CHANGES and what they’ve meant for their respective companies:
- NISSAN was formally known as DATSUN
- 3M was formally known as MINNESOTA MANUFACTURING & MINING
- YAHOO! was originally known as JERRY’S GUIDE TO THE WORLD WIDE WEB
- LG ELECTRONICS was formally known as LUCKY AND GOLDSTAR CO., LTD.
- GOOGLE was originally known as BACKRUB
- AMAZON was originally known as CADABRA
Think of a world where you had to BackRub an answer instead of Googling it, or purchase Minnesota Manufacturing & Mining hooks instead of 3M hooks. It’s difficult to imagine a consumer world like this, yet it could’ve very well existed. But these are excellent examples of name changes which simplified the company’s public persona and created household names. Some were drastic, others were not. These are also great examples of companies willing to evolve to increase their public perception – to make themselves increasingly marketable in an over-marketed society. They understood their marketing ability started with their name, and because of ability to evolve, they opened their doors to consumer exploration of their products and services.
This doesn’t mean, however, you have to sacrifice sentimentality for the sake of the company’s marketability.
THERE CAN BE A BALANCE!
As it stands, I was still able to incorporate sentimentality in the name K-CORE – the “K” is my first initial and “CORE” is my wife’s nickname. It’s not perfect, but it’s a solid name – one which is recognizable and memorable. But it took extreme effort to change the name from PEARDUYNE because of my attachment to it. I had to rely on a close circle of trusted individuals with whom to brainstorm.
ONE THING TO CONSIDER: If your business is having difficulty grabbing customer attention, then a re-evaluation of your business may be in order, and it could be something as simple as your BUSINESS’ NAME!
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