Episode 401: TMBA401: What’s In A Name?

Tropical MBA: Entrepreneurship & Founder Lifestyle

Dan Andrews; Ian Schoen

Digital Nomad, Business, Ecommerce, Society & Culture, Amazon, Founders, Cash Flow, Places & Travel, Founder, Business Owner, Cashflow, Management, Entrepreneurship, Million, Operator, Operations, Profits, Distributed Team

4.9 • 527 Ratings

🗓️ 10 August 2017

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

http://www.tropicalmba.com/nameyourbusiness/ This week's episode is about a question that Dan and Ian are struggling to answer right now: What is the best way to go about naming a new business or product?

A lot of times you only get one chance to get people's attention. Choosing the right name could unlock the door to great success, and branding your business incorrectly could prove disastrous.

Today's guest knows this challenge better than anyone.

Alexandra Watkins is the founder of a company called Eat My Words, which specializes in naming brands and products. She is also the author of a book on the subject called "Hello, My Name is Awesome".

This interview originally started out as a discussion about Alexandra's book, but it ended up taking a serious turn about halfway through, when Alexandra went to great lengths to help Dan and Ian find a new name for this podcast.

Transcript

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0:00.0	How is it expensive for you guys?
0:02.0	I'm baffled by that.
0:03.5	Do you have to reprint business cards and letterheads and change the sign on your skyscraper?
0:12.2	Hey, podcast listener.
0:13.7	Even if you are alone in your entrepreneurial journey, know that today, right now in your
0:17.7	earbuds, you are joined by thousands of entrepreneurs from all around the
0:21.6	globe seeking to grow better, more profitable, location independent businesses. If you'd like to
0:27.0	learn more about what we do and download our entire back catalog, check out tropical MBA.com.
0:41.0	Today's episode. Today's episode is about a simple topic, or at least what I thought was a simple topic
0:46.0	until just a few months ago.
0:48.7	How do you go about naming a new business or a product?
0:53.6	Hmm.
0:54.1	I thought I had the answer to this. I could tell you that you
0:57.6	definitely don't have the answer to this based on the companies that we've owned in the past,
1:02.4	yeah, and the things that we've named them and the ways that we've gone about naming them.
1:06.2	So if you remember, Dan, our first corporation, you drew two palm trees in your notebook, and we came up
1:12.1	with the name Two Tree International, and we just thought that this was the most brilliant name
1:15.7	anybody had ever come up with. For me, a good company name involves two things, Ian. It means it's
1:21.3	available on GoDaddy, and that it's for the cheapest price possible. If those two things converge in
1:26.8	the universe, then I'm buying it.
1:29.3	Not necessarily the best name we ever came up with.
1:32.3	But the good news for us is it wasn't of any consequence.
	...

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