WONG JENNIE MCT

Ask The Mompreneur: What’s In A Business Name?

By Jennie Wong
The Charlotte Observer.

This week’s “Ask the Mompreneur” features an interview with Cynthia Kellogg, gifting expert and the founder of the cash-gift registry GiftGather.com. (You can use GiftGather.com to set up a “fund” for your wedding/honeymoon, birthday, graduation, or other special event, or you can use it to collect funds from a group of people chipping in on a gift for someone.)

QUESTION: Of the many challenges business owners face, one that may not immediately come to mind is the question of what to name your business. I know that you’ve had experience tackling this issue for your company, Gift Gather. What advice do you have for other business owners who are either in the naming process or thinking of re-naming an existing business?

ANSWER: I learned the hard way how important a great business name truly is. Over the course of one year, I changed names three times. I started off with “Instead of a Gift,” a common phrase I used to describe my business, and shortly thereafter transitioned to “GFTGTHR.” After a few painful months where I was inundated with negative feedback, I finally changed it to “Gift Gather.” Our tagline is “Friend Funding for One Awesome Gift.”

I had to cough up some cash and negotiate our purchase of the URL, which took about 40 days, but it has all been worth it, because your business name is your first impression to your customers.

TOP LESSONS I LEARNED:

YOU CAN’T PLEASE EVERYONE
Someone will always dislike your business name and suggest you change it. As soon as I introduced “Gift Gather” as our new name, someone pulled me aside and told me I needed to change it because “Gift” was not the right word. I have gotten used to people giving me their opinions on everything I am doing, and now I only take these opinions seriously if I hear them repeatedly.

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