To be successful in today’s business environment, you must be equally adept in the digital world as in the physical world. Whereas the business model of the past existed from 9 to 5 in an office, today’s model knows no such boundaries. A successful business today operates 24/7, spending much of that time in a virtual world that can often feel overwhelming.
On August 9, 2009 the reality television show Shark Tank premiered on ABC. The premise of the show is fairly simple: entrepreneurs pitch their business ideas to the “sharks” in hopes of securing an investment. Lori Greiner, Kevin O’Leary, Robert Herjavek, Mark Cuban, Daymond John, and Barbara Corcoran serve as the primary sharks, with occasional guest investors sprinkled throughout.
The Super Bowl is an annual event that is known for its advertising as much as its football. Million dollar companies like Frito-Lay (the producer of Doritos), Coca-Cola, Mars (famous for the M&M), and Ford spend 364 days preparing to unleash their creative genius on consumers during the big game. A total of $377 million was spent on advertising during Super Bowl 50, which took place a few short days ago. The average cost of a 30-second commercial was $4.8 million, which equates to approximately $160,000 per second.
Most of us have some sort of experience with setting diet and exercise goals. Eating healthy and remaining fit is an increasingly important focus throughout the world. As an entrepreneur have you ever considered the similarities between starting a business and embarking on a fitness regimen? The two activities are actually pretty similar.
The idea of starting your own business is not always a comfortable feeling. Being overwhelmed and unsure of yourself is completely normal. Even the most confident entrepreneurs have experienced periods of doubt and uncertainty. The ones who make it out of this phase are those who possess at least two things: in-depth knowledge and instinct. The knowledge part can obviously be developed. There are many ways to study and familiarize yourself with your industry’s concepts and skills. The instinct side of the coin, however, is sometimes harder to come by.
Today’s ultra-technological society has made creating an online presence for your business a necessity rather than a luxury. The process can be intimidating, especially for those who are unfamiliar or uncomfortable with the Internet. Fortunately, it is possible to create the presence you need without being a technology expert.
Many people find that deciding on the company name and operational vision are the hardest parts of establishing a business. Although making such decisions can seem laborious and overwhelming, the hardest part is hardly over. Coming up with a clever and creative name is worthless if you fail to attract customers. Even the most innovative and progressive products will stay tethered to the shelves if there are no customers.
Do you have an idea you consider unique and innovative? Something the world doesn’t even know it’s waiting for? Are you full of ideas that are screaming to get developed? Too many people can answer, “yes” to these questions. Unfortunately, many ideas never get out of the vision stage. It is one thing to have great ideas and enthusiasm; pursuing and being successful with those ideas is something altogether different.
Building a new business can be a rewarding experience. Yet in many cases, success or failure depends entirely on the choices that are made in the early stages of a venture. A well-executed idea can grow into a profitable enterprise that can bring financial freedom, personal flexibility and more, but missteps along the way can cause a business to stall or even fail. While there are countless responsibilities that come along with building a business, one of the most important first steps is choosing a name.
Photo by Matthew T. Rader
When you’ve hit a mental roadblock trying to decide on a name for your business, one option is to use a business name generator. We often get the question, “should I use a name generator for my business?” In theory, name generators are online tools designed to provide a variety of different names for your business. Unfortunately, and in most cases, even the most sophisticated fee based business name generators are like slot machines, randomly spitting out nonsensical and ordinary names based on a few random keywords.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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