What’s in a Name? – Re-inventing a business

I have always felt that the name of a company should tell the viewer what the company does. That is why I chose Confidential Business Coaching as my new company name. I am still keeping aBusinessPlan.com active because it is so well-known, but it is more indicative of project work. My analysis of the services my clients have accessed and appreciated most during the past few years indicates a greater need for focused work sessions involving specific questions, brainstorming and problem solving. 

Value Identification

I spent a lot of time thinking about what my clients have valued in my services over the years, and what I feel is the true value behind my services. What came to mind was my extensive knowledge of economics, capital markets, business models, strategic thinking, contacts, and my direct and truthful approach. In short, they trust me to do everything I can to keep them safe and give them the advice they need to be successful.

Service Description

The word coach was not a favorite of mine. I didn’t think it sounded professional, but it has evolved in meaning over the years and is now as accepted and descriptive as other words such as attorney and accountant. In fact, it describes something both those words have evolved to mean: advisory sessions. I even tell my clients that I am like an attorney but I advise on business, not law. This pretty much describes what I do – entrepreneurs come to me to ask questions, present problems to solve, and brainstorm in sessions normally lasting one or two hours.  Not only that, the mainstream understands the word coaching as an occasional or regular session with a knowledgeable adviser. Bingo!

So the name of the business must include the word coach or coaching.

Defining the Service

As a coach, I am clearly offering advisory services on a focused session basis. Consulting evokes the image of project work, which seems to be less important to today’s entrepreneurs and business executives. The next task is to define what kind of coaching I offer. That’s easy. I offer business coaching … but that is a broad and overused term.

I thought about what has always been the differentiating professional element over my own business career. That’s easy: I have been a fiduciary for 35 years. TheFreeDictionary.com defines fiduciary this way: An individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another’s benefit.

Yep. That’s me.

People come to me with ideas they want kept away from those who might copy them, and problems they want kept secret. They want reliable advice customized to their needs, and they usually don’t have an objective person to consult confidentially. Relatives and friends tend to say only pleasant and supportive things. Business partners and employees are too close to the enterprise to be truly objective. Worse, all these choices might talk about things that shouldn’t be talked about.

I feel the most important characteristic of a business coach is confidentiality.

Branding

Confidential Business Coaching also presents a professional brand image, in keeping with how I want my business image to be conveyed. Yes, it sounds serious. Yes, it advertises fiduciary care. Yes, it is how I want my services to be perceived.

A business name that has attracted my attention, and has remained unforgettable, is Where the Fuck Should I Go to Eat –  I love the audacity and the fact that it presents a clear definition of what the website provides. I decided not to apply such audacity to my own business name – this time.  Hmmmm …

 

 

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