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Names are Important

November 26, 2006

Q- I have been operating a business out of my house providing attorney services. These lawyers have really gotten to know me and appreciate the quality of work I render. Because of the success of my business and because I needed more space, I rented an office in a great location for a reasonable amount. I changed the name of the business from my name to one that represents the work that I do in a more generic form. Everyone I talked to thought that the name change was a great idea as it seemed broader in scope. However, after being open for 4 months, my revenue is not increasing as quickly as I would like and, at this point, I have not taken any salary for myself. I have heard from several attorneys that they did not know that I was engaged in this new business as my name was not part of the company. Help!! What can I do to increase my revenue? At bare minimum, I would like to bring my income up to where it was when the business was in my home.

Recognizing that you needed to move out of your house was an important step toward growing your business. So many people I know reach this point and continue to operate out of their homes. They end up working far more than the normal full-time job and sacrificing all their spare time. The reason: When you operate a business out of your home, it never leaves you. As a result, it is hard to give your family the attention they really need. Separation of business and family is critical, and I applaud you for taking this step.

I believe that your revenue has gone down because your clients are unaware of your association with the new business. The new name has left them unable to find you.

A simple solution exists. All you have to do is establish a link between you and the new business name. My suggestion is that you send a letter to existing and potential clients. Make it clear that this business is just you operating under a new name. Emphasize the fact that the name change does not reflect a modification in the services you have been providing. Instead, it simply denotes a change of venue.

Additionally, I would recommend that you include your picture on your brochures and on any advertising that you put out. The quicker people learn to associate your name with the new business name, the better. Anything you can do to help this process along will pay dividends.

Having your existing clients find you is fundamental to the success of your business. This problem is easily fixed, but time is of the essence. The sooner you get this issue in hand, the sooner your cash-flow will improve.

Good Luck.