Choosing a Company Name
When forming a limited company the name of the company can be an important decision. Some people may choose the first name that they think of and others may select a ready made company for speed or because they like a particular name. However, many businesses may prefer to select a company name that either clearly distinguishes itself from its competitors or contains something unique or personal. Company names can be chosen for different reasons.
One of the most common ways of selecting a company name is to use something personal. A quick look through your local newspaper will probably introduce you to many personalised business names. Johnson Consulting Limited, T Smith & Son Limited, Stephens & Barley Limited are some fictional examples of what may be found. This may instantly make a company recognisable locally, it can be deemed as more personal by its customers, and often works well within geographical areas. However, it does little to tell new customers what your company does.
A popular choice for a small business is to choose a name that is ëdescriptiveí. This tells prospective clients exactly what your company does. Examples of this may be to call your business The Window Company Limited, City IT Consultants Limited or The Advertising Agency Limited. Whilst this does serve to reinforce your primary business it offers little differentiation and may easily be adapted by competitors.
A less personal option is to use a company name that is ëassociativeí. This type of company name helps to create an image or connection to your business activity. It is less direct than using a descriptive name but helps to position your companyís name within the market through peoples understanding of what words mean. For example a flick through the Yellow Pages will offer plenty of examples of this. A hairdresser called Classic Cuts or a printer called Selectaprint Limited are examples of what may be found. These names offer some differentiation but may not ultimately set your company aside from its competitors.
An alternative is to choose a company name that is ëfreestandingí. These names are completely abstract and not related to the companies business activities. A fictional example may be to call your catering company Zedoc Limited. There are many popular brand names that illustrate this point. Consider, Kodak, Gillette, or Mars, these names will probably be instantly recognisable to you and conjure up a particular product or business. This is a good way of setting your company aside from the competition but it is important to consider the market that you operate in. Will your prospective clients know what your business is offering?
Choosing a company name may be a simple process, but it is not uncommon for people to deliberate over names for quite some time. Whilst company names can, and often are, changed during the life of the company most people like to choose a name that they like from the outset. Therefore consider your market, how much you want to differentiate from your competitors and what your company name should say about your organisation. Once the decision is made focus on the important business of making your company a success.
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Training the New Network Marketing Distributor: Being a Good MLM Sponsor ñ Step 2 of 3
In Step 1, we talked about ìLaying Down a Track to Run On.î Here, in Step 2, weíll discuss ìBeing A Good Sponsor.î While many of the people you recruit into your organization may have had previous experience in network marketing, many will be first timers. Similarly, if youíve been successful in recruiting people who were involved in other network marketing organizations, you got them because they were disenchanted with their current company. In other words, they werenít as successful as they would have liked to be.
Wouldnít that indicate to you that they donít know the best way to do things? Well, thatís where you come in ñ helping them lay that track for others to run on. Again, when new distributors know what works, they can proceed with confidence, and confidence is the handmaiden of success. Remember, people are not duplicable, but systems are.
<b>Step 2 — Being a Good Sponsor</b>
Being a good sponsor means showing your new distributors ìThe Rules:î
Rule No. 1: Treat it Like a Business.
In order to be successful, your new distributors must truly want success, be coachable, and follow through on their commitments. In other words, they need to treat this business like a business.
Rule No. 2: Keep it simple.
If they can follow a simple procedure (see Part 1), they will use the same system with their contacts. If they can see that what you did was simple, they will believe they can do it, too. If you had to really work on them, more or less ìbullyingî them into the business, your new distributors will not want to duplicate what you did and will not take any action.
Rule No. 3: Determine Their Reasons.
If you know what your new distributor wants from this venture, that is, why they want to succeed, you can understand how to get them over the rough spots and keep them on the road to success. Remember, most people will be tempted to quit with the first setback because they were never clear on what they wanted to achieve in the first place. If their ìwhyî is strong enough, the ìhowî will be easier to get across.
Rule No. 4: Establish Objectives.
Set specific sponsoring and financial objectives for the first 30, 60, and 90 days. People always perform better when they have specific goals in mind.
Rule No. 5: Introduce Your Upline
Introduce new distributors to their upline, those leaders who are building a successful business and who are earning the type of income theyíd like to earn. That way, if youíre not available to help them, they will have names and telephone numbers of others (you should give them at least 3) who they can contact for support. Further, by meeting others who are earning the type of income they’d like to earn, the system becomes more realistic and attainable.
Rule No. 6: Whereís the Tools?
Make sure they know how to get the tools they will need to share the business with others., such as tapes/CDs, brochures, business cards, etc. Every business needs information to disseminate with prospects. This one is no exception. Remember, people are not duplicable, but systems are.
Rule No. 7: Make a Prospect List.
Although everyone who makes a list doesnít necessarily become a top earner, every top earner has a list. Typically, theyíll start with their Warm Market, because thatís the people they know.
At this point, your new distributor should be ready to go. They have their ìreason whyî clearly in mind, specific objectives for the next 90 days, their upline’s contact information for plenty of support, the tools to get started, and a list of people to contact.
Having said that, remember Rule No. 8: Let Them Move at Their Own Pace.
Sponsoring a distributor is a process, not a single event. If they don’t want to move as fast as you do, thatís OK. You canít change human nature. People will only do what they are willing to do. Encourage, yes, but donít try to force people into something they arenít willing to do.
Training the New Network Marketing Distributor: Laying Down a Track To Run On ñ Step 1 of 3
Most people who get into a network marketing program want things to happen quickly. Initial presentations usually touch on the way money can be made, and the numbers often look staggering. What most of those initial presentations donít explain is how difficult it is to get started and to acquire the skills needed for success in network marketing.
For many new distributors, this is their first venture into network marketing. They are unsure about how to begin and often are tentative in their initial approaches. That can be the ìkiss of deathî for a presentation. After all, who wants to go into business with someone who is not sure about what they are doing?
To be successful in network marketing, new distributors need to learn from someone who is already successful. When new distributors know how to proceed, they can build their downline with confidence. Only one person in a hundred is a ìself-starter.î The other 99 will require that you invest time into their success, and show them how to begin.
There are three steps to building your downline:
1. Laying Down A Track to Run On
2. Being a Good MLM Sponsor
3. Working Depth With Your MLM Downline
Today, letís talk about the first step, i.e.
Step 1 — Laying Down A Track to Run On
Making sure your downline has a ìtrack to run onî means they must first learn about the company:
ï facts and information about the management team;
ï product features and benefits;
ï compensation plan and how you make money;
ï enrolling prospects and order processing;
ï who your upline is; and
ï developing their presentation portfolio.
In addition to the above, having a track to run on involves knowing how to:
ï develop effective communication skills, i.e. to speak with people in a way that reduces tension, neutralizes objections, and increases participation;
ï use tools (e.g. websites, CDs & DVDs, newspapers, brochures, etc.);
ï promote home meetings, regional gatherings and conventions;
ï share information with warm and cold market, leads, referrals;
ï edify upline leaders; and
ï conduct an effective 3 way call.
When you sign up a new distributor, immediately have them make a list of ten prospects. Then, you should send each of those prospects some company information and a short note stating that you are sending the information to them at the request of a mutual friend. If you have an informational website, include the URL in your letter. After the information has gone out, have your new distributors follow up with their prospects and set up a three-way call.
When you do this, you (1) get your new distributors to immediately begin building their organization, (2) get sponsor and distributor working together, and (3) your new distributors will know what to do when they sign up someone, i.e. exactly what you have done for them! This stimulates business and creates tremendous momentum in the downline.
Sounds simple, but many sponsors violate this strategy. If itís done right, and your new distributors see how easy your success is to duplicate, you will find that them running on that same track, teaching their downline how to get started. Youíll see business builders emerging, and thatís when your business will really take off.
Super Bowl Advertising And Marketing For Perfection
With Super Bowl ads running at almost $3 million for 30 seconds, you need to be perfect.
The game kicks off in about one hour and we have already seen some of the high-priced ads. Here are my comments on how the big guys do it.
#1. Pepsi. Pepsi has an outside-the-box ad. The ad is done by two deaf guys trying to find out where Bob’s house is. It is done completely in sign with sub-titles. This is a first. We will see if this is labeled “offensive” even if the National Association of the Deaf approved it.
#2. Budweiser. A perennial mainstay. Wouldnít be a Super Bowl without Bud and all of their commercials.
#3. Miller Lite. Bud’s main competition that seems to always be poking fun at Bud.
#4. GoDaddy. GoDaddy is always controversial which gets them the most publicity. You may see racier ads at their web site.
#5. P&G. Proctor and Gamble will air its first ever Super Bowl commercial featuring Tide.
#6. Vitoria’s Secret. Marketing lingerie with hot chicks to guys makes sense to me.
There are more and I will post another article after the game.
Some comments in general.
Sex, humor, and music still sell. Well, it sells to a primarily male audience.
More companies are linking their TV ads to their web site.
Companies can get away with more on their web site. FCC rules donít apply.
If it worked before, use it again.
Stars give credibility (to an extent).
Market to your audience (in this case, mainly males).
This is the only show that people actually wait in anticipation for the commercials.
Pepsi has coined a new term ñ different abilities ñ as opposed to disabled or challenged.
30 seconds cost almost three million, but these ads will be all over the Internet forever for free. Some ads are already at YouTube before the game started.
Marketing to 90 million people would be considered by most to be the greatest opportunity to get your product noticed. We will see who makes it big with the best Super Bowl ads.
OK. It is almost game time. I’ve got my sandwich, chips and dip, cold beer, and some cashews. I will be cheering for the New York Football Giants since I love an underdog.
Use the power of Super Bowl advertising to get some ideas on how to market your web site. Hopefully, for a lot less than 3 million dollars for Ω minute.
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