How To Choose A Business Name

Choosing A Business Name

First Published: Feb 21, 2011 EntrepreneurJourney.com

When you are starting a business, there are several things that you need to do in order to make the business successful and one of the most important is choosing the right name. As odd as it seems, choosing the wrong name can sink your business just as easily as if you screwed up a marketing campaign. The name of your business is the brand, logo and face of your business and it is the first thing people will notice about your business. So, if you are going to have a good business name, what do you need to do in order to make your business stand out?

Here are a few tips to help you out.

The first thing you need to do is to look around at businesses that are in the same market at you and see what they have in common with their names. This does not mean you need to choose something similar, but instead you are choosing something that is different but tells people what your business is. For example, if you own a coffee shop, you will probably have “coffee” “grind” or “java” in the name, as will other businesses.

The second thing you should do is make a list of about 20 names that you like and that you are considering for your business. This is important because it will allow you to research each name to see if you can use it. When you research, check to see if it is registered in your area, if anyone else is using a name similar to it and what the connotations of the name may be. For example, if you are opening a craft store, choosing the name Kristi’s Kooky Krafts may seem like a cute name until you look at the initials of your business name.

The third thing to do is to cut your list down to three main names. Those are the names you will choose from. Look at those names, are they witty? Do they stand out? Do they tell people what your business does? Are they misleading at all? Are they easy to put on a sign? How will they translate to a web address? For the last one, if you have a name that is A Dawn Coffee, then you can have a website that is adawncoffee.com. However, if your name is A Dawn Coffee Express and Homemade Grinds Shop, then adawncoffeeexpressandhomemadegrindsshop.com is a bit too long and too much for people to remember.

Once you have the name, you will need to register it. This will ensure that no one can take the name from you and you will be entitled to that name. No one can take the name and use it across the street from you, and it also helps when you are doing the business taxes for your company. So, choose wisely and your name could help your company well into the future.

Marriott & SPG New Hotel Loyalty Program

3 Things You Need to Know

What Will Happen to My SPG & Marriott Rewards Points?

The new rewards program (which does not have a name yet) will combine Marriott Rewards, Ritz-Carlton Rewards, and SPG into a single program. SPG members will have to merge accounts with Marriott in August and will receive 1:3 new points. Marriott and Ritz-Carlton members don’t need to do anything.

What is the New Program Earn Rate?

Ten points per dollar spent at all brands except certain brands (Residence Inn, TownePlace Suites and Element) where you will earn 5 points. Elite members will earn bonus points that could go as high as 75%.

The Canadian Starwood Preferred Guest Card from American Express will earn 3 new points per dollar spent for everyday purchases. There will possibly be some changes coming to this card to reflect the new program.

How Many Points Do I Need for a Free Night?

Currently 3,000 SPG points or 7,500 Marriott points are required to get a Category 1 free night. The new points requirement to get a free night will be 7,500 (Cat 1) and 85,000 (Cat 8).

Starting in 2019, there will be a free night award chart and points required for a free night will be based on various factors such as peak time, standard and off-peak time, etc. Off-Peak is expected to cost about 20% less in points while the peak season is expected to cost 20% more for a free night.

Why I Mix Content

Wide Array of Subject

If you are a regular ADJ reader, you have noticed that I write on a variety of topics ranging a wide array of subjects. Although my main niche is Personal Finance, you will stumble on articles, pictures, videos nowhere related to personal finance on ADJ. So far, I have never had any complaints from my readers. However, my friends and readers, who know me personally, always ask why a personal finance site would have a mixture of content on a variety of subjects. Today let me answer that in this post.

So Many Personal Finance Sites, Only a Few worth Reading

There are countless personal finance sites exist these days. All these sites (or majority of them) have something in common - these are for professional investors; hardly will you find something for amateurs or regular persons who are trying to enhance personal finance knowledge to build a secure financial future. All these high-end sites will discuss similar kind of topics such as:

Which stock are paying good dividends

How to perform wash trades in your discount brokerage account

How to make million dollars

Ins and outs of Exchange Traded Funds (ETF)

How to hedge Hedge Funds

Ins and outs of Smith Manoeuvre

I am a personal finance author with both education and work-related finance background. However, sometimes I find it hard to apprehend and absorb these articles. What percentage of population are high-end investors holding dividend paying stocks or performing wash trades in their discount brokerage accounts?

Would You Do Same Stuff Over and Over?

Another thing I have noticed about majority of personal sites is repetition of subjects. They discuss same boring complicated personal finance stuff repeatedly. If you look at a few articles of these sites at a glance, you will see it is the same drink in different bottles. How long you can continue reading the ins and outs of Exchange Traded Funds or Index Funds. May be one year, two years, or five years? You will get tired of it one day, and will look for something simple enough and more related to your daily issues.

Why I Mix Content

The main reason – I don't want you to get bored hearing personal finance and money related issues on a daily basis. I try to balance personal finance and non-personal finance articles (including pictures and video clips) on a weight of 50 by 50 percent, or 40 by 60 percent, or something like that. Most of my non-personal finance articles are very useful and there is something in it for you to learn. Some of them may not be useful all but that's what a blog is about. Let me elaborate this in the next paragraph.

The Essence of a Blog

Blogs connect authors with readers on a personal level, and blogs build lasting relationships. Readers, who are reading ADJ, are interested in connecting my journey with theirs. Now, all aspects of my journey may not be useful to everyone, and that is fine - readers understand that. Sometimes I post video clips, pictures, and articles from my personal life journey. These elements foster a connection between me and my readers, and that's exactly why readers are reading this blog. They are searching for that connection, personal touch, and a relationship – which a non-blog site cannot provide.

I Was Shy and Afraid

I started posting pictures and video clips showing myself just recently. I did not do it before because I was shy and afraid thinking what if I loose my readers once they get to see myself in these videos, pictures? I thought may be it was just little too personal showing myself, or may be I should just post pictures and videos without showing myself. Then one day, I gathered enough courage to post my first video. Then I posted another video after a few days, and I kept posting more and more. I was keeping a sharp eye on my daily visitor and RSS stats. Instead of going down, it kept going up and up. I tested something and I got the results. Readers accepted as I am and they are more comfortable and connected to me than ever before. They know now the person behind ADJ and they have found the rapport they have been missing. That's why they keep coming back and recommending this site to their friends (I get comments from my readers stating someone else recommended this site).

Final Word

I learned something which may sound little too simple but it is very important. Readers love reading a blog and recommending it to their friends when they find these elements in it:

Simplicity – ADJ posts are always written in very simple and spontaneous way.

Honesty – I am what I am. I don't lie about anything and there is nothing to hide.

Arrogancy – There are lots of things I do not know. As I mentioned above, I have difficulty apprehending some of the personal finance sites (both Canadian and American). I write about what I know or at least I tired to know and learn.

Readers are the Lifeblood of ADJ – ADJ is ADJ because of my readers, whether it is first time visitors, or returning visitors. If you are reading this right at this very moment, you are a part of ADJ, and ADJ survives because of you. You read ADJ because of our mutual trust and relationship, because of our connection; not because I know more than you, or I claim that to be true. We all can learn from each other.

When I started this article, I thought it would be a short one; but look what I did! I feel great to let everything out and I know you will appreciate it. I thank you for becoming a part of this blog and hope we will continue our journey in the years to come
First Published: Sep 9, 2008 ADawnJournal.com

What Will Happen to Canadian Tire Money?

Canadian Tire Triangle Rewards Program

Canadian Tire is digitalizing its rewards program to launch their new “Triangle Rewards Program”. With this facelift, Canadian Tire’s 60-year-old rewards program with 11 million members will be able to blend into the everchanging loyalty program environment on the Canadian market.

Today, I will answer some common questions you might have about Canadian Tire paper money and its new Triangle Rewards Program.

 What Will Happen to My Canadian Tire Paper Money?

Canadian Tire paper money isn’t going anywhere and will still exist. You will be able to earn and redeem Canadian Tire paper money at Canadian Tire stores. When you pay with a non-Canadian Tire credit card or pay in cash, you will be receiving paper money just like the traditional way.

Where Will I Be Able to Earn Triangle Rewards Points?

You will be able to earn Triangle points at Canadian Tire, Sport Chek, Gas+, and participating Mark’s and Atmosphere locations.

Do I Need to Sign Up for the New Triangle Program?

If you have a Canadian Tire account or Canadian Tire Option Credit Cards, you don’t need to sign up and you will be a member of the Triangle Rewards Program automatically. If you don’t have either of those, you can sign up in-store or online when the Triangle Program launches.

I have a video on the Triangle Rewards Program coming soon. Also, there will be two new Triangle credit cards: the Triangle MasterCard and the Triangle World Elite Mastercard. I will do a video and write about these cards as well.

Should You Hire Family For Your Business?

Hiring Family Members for Your Small Business

When you decide to start your own business, chances are you will not have the money to go out and hire employees. However, what do you do when you need some help but don’t have the money. Well, that is where family comes in. Family can be a huge help to your business in the early years of its formation but there are some things you need to keep in mind.

First of all, when you decide to hire a family member, even if they are not being paid, do they have the right attitude and personality for the position. You don’t want to force your kids to take part in the business if they are just going to hate it because that can cost you business, time and money in the end. You want to hire your family members if they are easy going, can accept challenges and don’t worry too much about stress. On that same note, they need to have a can-do attitude and be ready to help make the company a success. If they understand that their hard work makes the company successful, and by extension the family more successful, then they are the right people to be working at your business.

If you are worried about hiring family, then you can give them a trial in the company. Let them work in the company for a month and see how they do. If they don’t do well, then you may want to consider not having them in the company anymore. One person with a bad attitude can cause big problems for your company, even if it is someone you love.

When you hire family, especially siblings, it is very important that you ensure they know you are the boss. If you hire your children, this won’t be a problem, but hiring older brothers or sisters can cause problems with authority, especially if your siblings have always been the ones in charge. Make sure from the very beginning they know that you are the boss and they are the employee. On that same note, it does not mean you are just going to boss them around. Everyone needs to be treated well and with respect and you have to do the same with your family, more so than with other employees.

Another thing to consider is do your family members have the skill set to make the company successful? If you open up a mechanics shop, does your 15-year-old son have the skills to change a transmission? No? Then you may not want to get him doing that if he is not ready.

Hiring family can be difficult, and sometimes it can be hard to let family go if they are not working out, especially if you live with them, but that does not mean you shouldn’t hire family. Hiring family can save you money and it means the entire family has a vested interest in the success of the company.
First Published: Feb 2, 2011 EntrepreneurJourney.com