naming your business
DESCRIPTION
Naming Your Business. Choose and Register Your Business Name. Naming your business is an important __________ exercise, but if you choose to name your business as anything other than your own personal name then you’ll need to _________ it with the appropriate authorities. - PowerPoint PPT PresentationTRANSCRIPT
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Choose and Register Your Business Name
• Naming your business is an important __________ exercise, but if you choose to name your business as anything other than your own personal name then you’ll need to _________ it with the appropriate authorities.
• This process is known as registering your “Doing Business As” (DBA) name.
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1. What are important factors to consider when naming a business?
2. What are some problems you might encounter when choosing a name for a business?
3. What is the procedure for filingfor a business name?
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Factors to Consider How will the name look? Visual appearance/representation
Name + logo What connotations does it invoke? Is it unique? How will it adapt to social media? Public etiquette; image; style; persona; meaning;
interpretation/translation; abbreviations; spelling; competitor’s names
Naming your business involves business strategy and legal decisions
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Problems
• Is the name available?• Name already taken• Options• Name confused with other businesses.• Others don’t “get it”
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Filing for a DBA
• File in the State and County that you will be based in.– Niagara, Erie, etc.
• http://www.niagaracounty.com/Departments/CountyClerk.aspx
• http://www2.erie.gov/clerk/index.php?q=filing-business-certificates
• Proper forms• Fees• Trademark
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Name Availability
• http://www.dos.ny.gov/corps/faq_availability.page.asp
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Business Plan
1. ____________________2. ____________________3. ____________________4. ____________________5. ____________________6. ____________________7. ____________________8. ____________________
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Business Plan Format A complete business plan is very lengthy and takes months
and sometimes years to prepare. It is necessary paperwork!! Your future investment/funding depends on it. It reflects that you are serious about your business and are
taking all present and future factors into consideration. To be revisited periodically – changed – updated.
Templates– Word or Publisher– On-line– www.SBA.gov
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You will be preparing a sample BUSINESS PLAN for your new
business concept.
For additional resources visit:
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Business Plan Template
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BUSINESS PLAN
Company name
Business plan
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Background information
Summary
Company Description
Product / Service
The Market
Strategy and Implementation
Management Team
Financial Analysis
BUSINESS PLANContent
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BUSINESS PLANPersonal Information
•Name(s) of owner(s)•Address•Telephone•E-mail•Date of birth•Education•Job experiences•Special Qualifications•Other relevant information
Personal information
•Name(s) of owner(s)•Address•Telephone•E-mail•Date of birth•Education•Job experiences•Special Qualifications•Other relevant information
Personal information
This gives the viewer a feeling of who you are. This first impression will affect the viewer throughout the presentation.
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Values and Visions
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Missions and Goals
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BUSINESS PLANPersonal Information
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BUSINESS PLANSummary
Who are weGo ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text
What do we produce/offer?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text
Wich and how many customers?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text
First year turnoverGo ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text
Funding needs?Go ahead and replace it with your own text. This is an example text. Go ahead and replace it with your own text
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Briefly describe the business and highlight its purpose. It must contain the most important information from the business plan.Write the summary last, but place it in the beginning of the plan
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BUSINESS PLANSummary
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Objectives
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Mission
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Success Factors
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Business Planhighlights
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BUSINESS PLANHighlights
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BUSINESS PLANCompany Description
Start-up Plan / Company History
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Ownership
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Facilities and Location(s)
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BUSINESS PLANProduct / Service
Products / Lines / Services offered:
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Differences in products / Lines / Services compared to competitors
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Purchase frequency/product life span
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BUSINESS PLANProduct / Service
Product / Service
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Market Trends
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Market Growth
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Industry Analysis
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Main Competitors
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Market
BUSINESS PLANThe Market
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The typical private customer
Gender:Age:Education:Occupation:Lifestyle/culture:
BUSINESS PLANThe Market
The typical business customer
Line of business:Size/staff:Age:
Geographical factors / limits
Domestic:International:Physical or online?
Assumed number of customers
Arguments and supportive facts:
Average amount spend per customer?
One or more items?
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BUSINESS PLANThe Market
Important competitiors
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Competitive parameters on the market
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Assesment of posibilities on the market
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BUSINESS PLANThe Market
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Distribution Patterns•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text.
Market Needs•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text.
Buying Patterns•This is an example text. Go ahead an replace it with your own text. This is an example text.•This is an example text. Go ahead an replace it with your own text. This is an example text
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BUSINESS PLANThe Market
Market
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Management responsibilities
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BUSINESS PLANStrategy and Implementation
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Business Plan
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BUSINESS PLANStrategy and Implementation
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BUSINESS PLANStrategy and Implementation
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2010 2011 2012 2013 2014 2015 2016
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BUSINESS PLANStrategy and Implementation
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Step 1 Step 2 Step 3 Step 4 Step 5 Step 6
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BUSINESS PLANMarketing Plan
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Budget Example title Example title Example title Example title Example title
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BUSINESS PLANBudget
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BUSINESS PLANManagement Team
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BUSINESS PLANManagement Team
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Total Funding Needs
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Initial Capital•This is an example text. Go ahead an replace it with your own text. This is an example text.
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Loan•This is an example text. Go ahead an replace it with your own text. This is an example text.
BUSINESS PLANFinancial Analysis
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Budget
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BUSINESS PLANFinancial Analysis
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Notes and Tips…
Your company logo, name and slogan should appear repeatedly on all company materials.
The same overall style and format should be consistently used.
All company information should be publicly acceptable and reflect professionalism.
Never pass up the opportunity tomake a good impression.
Remember first and last impressions are important.