Know-How Exchange : Taglines/Names

Good morning.

I presume you are able to deal with all the questions clients can put to you. I presume you have all the legal backups in place.

Because starting out in economic conditions like this is not going to be easy. What's more there are a lot of people who think that they can do this, and it's too late by the time their customers realize it.

Advertising your business is not going to be easy and it isn't going to be cheap. So reckon on long term planning. Start with a basic plan, nothing special, just outlining what you want to achieve and how. Because it will all go wrong as you learn the things you need.

In your business you need credibility. That usually means using your own name and location. That alone puts you in your own category. It does not make you stand out, which is what you need. Now most people do not like wearing bright blue suits just so that people notice them. You need to use your intelligence and think of the things you do that nobody else does, and then you will stand out to your best clients even when wearing a charcoal grey suit like everyone else.

The things that make you different are small. They are also extremely important. Because your best clients will bring you vastly more profit than your ordinary customers. Three quarters of your profits will come from twenty percent of your customers. So watch out for them. Make sure you get more of them. My point is that not all customers are equal, which means treat them all equally regardless of this. Just make sure you have your ears open to listen for the special noises they make. The point is that whilst you treat all your customers with equal respect, not all of them return this.

Getting the best customer is crucial to a stable startup.

For all the above we need a few things from you: the more specific you are, the more detailed and focused will mean it is more effective. That means cheaper too.

(1) What your best customer needs of you that they cannot get anywhere else. Something that your competitors can't, won't or don't. This is crucial.

(2) Something you don't do - this is the bone cruncher as it shows people you are being honest. Anybody can say it, few actually do it. In your market fraudsters abound. So show that you aren't one. This does not need to be in your name/tagline it does need expressing clearly somewhere in your advertisement.

(3) We don't need to know where you are as we will just say "Mr So and So" at "Location". You will need to fill in the blanks.

A few ideas:

Mr So and So, Financial Services (Location)*.
- providing Location's SME community with sound advice.
- for the small businessman in Location.
- for the busy Location businessman
- advising local people and businesses

- - - - - *include here if you don't include it in the tagline.

hope this helps. Moriarty xx

Who specifically are clients? Where are they located? Age? Income level? Gender? Investment sophistication?

Why would they choose to work with you? What makes you special?

What naming restrictions do you have legislatively (or by-agreement in your region)?

Are you operating independently, or under the umbrella of a financial institution?

What unique and important benefit do you deliver to your target audience? Why would they want to retain you? What's in it for them to seek you out? How do they know they can trust you, or that you can truly deliver on your promises?

I have found those types of services unusually difficult to market. Why are you focused on this market? Why should people work with you rather than other firms? Also, you say you have to do this. I'm curious about the urgency. Do you need to do this quickly? Do you have the resources?

A friend of mine once told me, "it takes a team to build a business." Over time, I have found this to be true. Do you have a team of trusted advisors and technical experts?

Do you have a business plan or a marketing plan?

I'm not trying to discourage you... but in the United States the vast majority of new ventures fail. The statistics are much better for franchises... have you considered starting a business as a franchisee of some sort?

I'm afraid without more data, we are not in a position to give you as much information as we might like to. The best of luck to you.