Whether you’re looking to start a business or you want to improve traction for your current business, there a few essential factors to increasing your chances for success. Let’s face it -most markets are totally saturated these days. Standing out can be quite tough, but if you have a great idea, a great business name, and a hefty dose of passion and grit, you can finally launch that business you’ve been dreaming about for years! Here are some pointers for increasing success when starting a business.
Thank you, Name.Kitchen, for sponsoring this post!
Passion/Grit
Any successful business person will tell you: passion and grit will take your further than anything else. When you combine a business you’re passionate about with a hefty dose of fortitude, you multiply your chances of success tenfold -if not guarantee it. If you’re not passionate about what you’re doing and you’re only looking to make money, you business can suffer or fail completely. It’s best to choose a business you love and have great passion for in order to increase your chances for success.
A Great Idea
Whether the inventor of Snuggie was truly passionate about their product is unclear, but one thing is certain -it was a great idea! People went wild over Snuggie (if not for novelty alone) and it has gone on to make its creator billions. When it comes to new businesses that succeed, it typically involves an idea that a) solves a problem, b) is unique and novel, or c) does both. If you have an idea, it’s worth creating a minimum viable product (mvp) to test the market and see if there is a demand. Once you know if your idea is actually viable, you can make necessary adjustments and invest further in it.
Networking
Never underestimate the value of great relationships. Building strong connections within your industry and making an effort to get out and network is vital to your success. How will people know about your business if you don’t reach out and make it known? We understand that networking can feel contrived at times, but if you’re at an organized networking event, everyone is doing the same thing, so there’s no need to feel awkward. No matter how shy, tired, or odd you feel, get out there and build relationships. Your success depends on it!
Business Name/Branding
It’s no surprise that business name and branding can make or break a business. Choosing the right name for your business is crucial and can really contribute or detract from your success. When naming your business, it takes both originality and rationality. You need a name that is catchy, but not too quirky that people will be confused by it. Also, when naming your business, it’s crucial that you research if someone is already using the name. This includes checking for existing trademarks, corporations, domains and websites. Another issue you might run into is securing the domain for your business name. The internet is quite saturated these days and securing a domain for your business can be tricky.
However, before you get frustrated that you can’t find an available .com, we have great news. Name.Kitchen has completely revolutionized the internet with their “not-com” domains. Believe it or not, the domain industry was stagnant for 30 years until Name.Kitchen came along and added hundreds of domain endings that simply use your entire business name as the domain. For example, if your business is “Jane’s Cafe,” you could secure the domain janes.cafe. Isn’t that cool?!
Name.Kitchen is powered by Donuts, so it’s fun, interactive, and helps you with the naming process -offering advice, tips, and tools for picking the perfect business name. You can get inspired and check out some of the cool, innovative business that are jumping on the “not-com” revolution here.
One of many businesses that are using a not-com is Sustainable Valley Technology Group, www.sustainablevallley.technology. This Medford, Oregon non-profit, founded by Jessica Gomez, is a startup accelerator whose mission is to support and encourage regional entrepreneurs. Gomez founded Sustainable Valley Technology Group in 2010 when she noticed a lack of local support for entrepreneurs. Since then more than 30 local businesses have benefited from classes, incubator workshops and one-on-one mentorship programs provided by Sustainable Valley Technology Group. When asked why she went with a not-com domain, Jessica says, “Our focus is on up-and-coming technologies and supporting disruptive innovations. [The ‘dot-technology’ domain] is easy to remember, and it fits with our mission. Plus, we also thought it was something fun. We try not to do things too seriously.”
You can read more about Jessica’s business and why she picked her name and why a “not-com” here.
Ready to secure your own “not-com?” Let Name.Kitchen cook up a domain for you now!
This post was sponsored by Name.Kitchen. All opinions are our own.
