It’s important to know how to brand and name your company properly, in order to position your firm for long-term success.
Few people know branding and naming as well as Phil Davis, president of Tungsten Branding. He joins the Go For Launch podcast to talk about the challenges and opportunities of coming up with a great company name and brand positioning that will stand the test of time.
With over 25 years of company naming and branding expertise, Phil Davis is a marketing and advertising veteran, having personally named over 200 companies, products and services worldwide. For 17 years, Phil ran a full service advertising firm in the Tampa Bay region of Florida, before starting Tungsten Branding in 2003. As a branding expert, Phil has been quoted in Inc.com, Businessweek, Entrepreneur, and Newsday, as well as regional and industry-specific publications. In addition to leading the creative team, Phil is a frequent keynote speaker and blog contributor on the subject of brilliant branding.
In the show, Phil and I talk about a range of subjects, including:
- How Phil became an entrepreneur (at age 26, with no money and a Ford Fairlane with no floorboards)
- How he overcame rejection when he first start cold-calling on prospects
- What he would do differently if he started over
- How to face down your fears and stand your ground on price
- The story of how he got into naming and the first company he named (PODS)
- What the typical process is to develop a company name
- Determining the branding criteria against which to judge potential names (e.g., do you want to fit in or stand out?)
- Deciding what attributes you known are for
- The worst types of business names to avoid
- Why you don’t have to state the obvious in your name (like ‘Restaurant’ in the name of a restaurant)
- A key question to ask: What business are you really in?
- Communicating the “ish-ness” of the business (and what this means)
- One important thing to keep in mind: all new brand names are inherently unfamiliar (which explains why many might get overlooked in early rounds of reviews)
- Why it pays to invest in a quality name and brand upfront (vs. facing more costs to rebrand later)
- Free resources available from Tungsten Branding to help come up with company names
- Information about the new lifestyle entrepreneur conference Phil started (Truventure)
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