What do guys think, is it better to do business under your actual name, or a fictitious name? Below are a couple of hypothetical examples to clarify what I mean. <!—-><!—-><!—->
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Actual Names:<!—-> <!—->
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“John Doe Construction†<!—-><!—->
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“Doe Constructionâ€<!—-> <!—->
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Fictitious Names: <!—-><!—->
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“Quality Constructionâ€<!—-> <!—->
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“Integrity Constructionâ€<!—-> <!—->
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Yeah, I know, they’re not the most original examples – but you get the point.
–T
Replies
Dad always told me to never use your name in your business name. Logic being that if you ever sell the business your name and indirectly you are still attached to the business.
That said, my last name is the first part of my business name.
I think it gives the biz a more personal involved hands on feel.
The big reason to use your actual name is that many potential customers associate that with better work. "If he is willing to put his name on the business, he must do work he is proud of".
The big reason to not use your name is if you think there is a chance that you might be able to sell the business later on (or if your real name is mud).
I went with Rich Beckman's Home Solutions. So I did both. My name, but easily altered if I had a business to sell (which I don't).
When we move to Fort Wayne I'm going to change it. Not sure to what yet. The very expensive siding company on TV used to be Unique but now it is Unique Home Solutions.... I don't want people associating me with them.
Rich Beckman
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the chances of you ACTUALLY selling your business are so small as to not be worth considering.
Yes--a zillion people can chime in here with anecdotal evidence of people THEY know who sold their business---or how THEY are gonna sell there business
but statistically---it's a long shot.
when i faced this question early on-- my dad counseled me to use my name somehow in the business name---because most people prefer to do business with someone who stands behind their work.
no matter what business form you use( sole prop., inc.,llc)--you are still talking about a very small business---and what you are actually selling is YOU-----so put your name out there, tell people exactly WHAT you are going to do, exactly what(or how) you are going to charge---and then deliver exactly what you said you would.
in the meantime---if some day your company turns into the next Dell computer--and you want to sell it-----------you will figure something out( think there is anybody named Ford out there losing sleep?)
best wishes,
stephen
if some day your company turns into the next Dell computer
Which by the way is the guys name!
And I doubt the Fords are getting really sound sleep these days either!
Bet they sleep just fine--what with trust funds and what-all,LOL
stephen
me.. i prefer fictitiousMike Smith Rhode Island : Design / Build / Repair / Restore
Mike,
Then can we safely assume Mike Smith is a false name ?? or do you call the business something different?
Walter:
M F Smith Associates, Ltd...
figured if it was good enough for Adam & Eve,
it's good enough for usMike Smith Rhode Island : Design / Build / Repair / Restore
Many years ago, an experienced prosecutor used to tell the new ones: "never use the defendant's first name, unless it's Adolph." I guess nowadays, it might be "Osama."
Edited 3/1/2008 11:35 am ET by smslaw
exactly
stephen
Depends..........if you are good and honest and plan on staying in the area........use your name, it will be a benefit.
If you do bad work.....fly by night......or an ex-con.......call yourself .........Quality Construction.
I've used the name of the City where most of my work is Performed in my Business name --- Bangor Slate Co.
Most folks locally know of me and my skills and my name, but for people from away buying a home here the name helps define what it is I do.
I think John Doe Construction would be a good choice for you. Must be your DOA personality. ;-)
This topic is one of many basic such topics discussed in the very affordable book "My Life in Advertising / Scientific Advertising" by Claude Hopkins. An easy, fun read, I strongly recommend it for anyone with a business. What makes Mr. Hopkins' opinions differ from most is that he actually developed the data to answer such questions.
As for names, his data says that the best business names say what you do and who you are. The more abstract the name, the worse the handicap you need to overcome. So, "Reno John's Household Plumbing" would be a much better name than something like "Xerox" or "Exxon." Naturally, it's necessary that there really be someone named John running the place, it serve Reno, and it do household plumbing!
In short, you need a name that people can understand. Your name is what telly folks who you are and what you do. You don't want to scare folks off, turn them off, or get calls for work you're not interested in doing.
Be specific, as well. "We do it all" chases folks away; people don't want 'it all' done ... they want their toilet unclogged!