Avoid Self Referential Business Names
“What’s in a name? That which we call a rose by any other word would smell as sweet.” – Shakespeare
You’re starting a new company. Great! What are you going to name it? I recommend against using your own name. Why?
Using your name has some good sides. Chances are your first customers will be people you know and the brand they’re interested in is you. That makes a natural connection to the business. But what comes next?
If you’re successful, you’ll probably hire an assistant or two. If you start to build a good team, at least one of those assistants will start doing things independently of you. That’s one issue where the name gets sticky.
Someone who starts as your assistant probably doesn’t want to stay that way. They want and need to be recognized as an individual contributor. In a small organization, that’s difficult when the name on the door is yours. They will always be working for you. You will always be the higher authority. And the business name reminds them of this day in and day out, which can stifle your team and lead to premature employee departure.
Of the costs you will face as you grow your business, nothing will be as important or expensive as finding, training and keeping good people. Although you are necessarily the boss, the one who is taking the risk, it’s not in your own best interest to remind your team of that day in and day out. Team members will come and go from time to time. One of your primary responsibilities is making your company a place they feel comfortable staying.
And, yes, I agree that the business name isn’t the secret key to keeping employees. People need to be happy and growing and making money to stay at their job. Not naming the business after yourself is one way to keep your mindset in check and to help others know that not having your name isn’t a barrier to success.
For more ideas about employee retention, talk to this guy or visit his other site.