The Top 3 Things You Should Consider for Your Business Name and Logo

For this post I thought I'd share what I think are 3 important things to consider when it comes to naming your business.

1. Make it quick

Except for maybe some law firms there are few business that I can think of that have names which take more than a second to say. Company names like Nike, Apple, Pepsi, Sony, Boeing and so on are all single words that just roll of the tongue. And that's very important because in the world which we live in today, everything is fast. Fast food, instant delivery, fast cars, instance messaging and online banking are all ways in which we speed up our lives. Your name has to not only catch the eye, but be short enough that the average person will have the time to say it in their head or out load. Just like the ones below. Otherwise it'll become just another piece of irrelevant writing passing by.

Image from 'Why Choosing the Right Business Name is Important' by Samantha Hurst

2. Make it exciting

Like I said before, your name should be as short as possible to get people to actually read it. This is only part of the story however. While short names encourage people to read, attractive and eye catching presentation allows them to remember. Imagine for a moment that every logo was grey. It would be hard to pay attention to any particular one wouldn't it? Well that's what you have to consider when you design your business logo. It has to be not only pleasing to the eye, but eye catching. This can be achieved with the right colour or shape combinations and appropriate sizing of each component. For further information I would consult someone who has visual marketing experience. In short, your logo/name shouldn't just be short and sweet, but good looking as well.

3. Make it flexible

The number one way to avoid messing yourself around later on is to avoid creating a company name that represents one product or items you sell. It needs to be a brand name, not a product name, otherwise you run the risk of later on having to rename your company because you want to make products x,y and z rather than just x. This isn't as important for logo creation, as often you can change the logo slightly, much like Google has being doing with their logo for the last 17 years (see video below)

So there you have it, 3 important things you should consider when designing your business logo and name to help make it powerful and accessible for your potential customers. Hopefully it comes in use some day!

Thanks as always for reading and if you have any thoughts, please post them in the comments section below.

Put Your Brain Into It

Those of you who do not like the sight of brains LOOK AWAY NOW!!  YOU HAVE BEEN WARNED!!

Now that that's out of the way I want to use this blog to share some thoughts on this social media post that I saw not too long ago. I'll continue below so just read it first.

Image URL: http://asapscience.tumblr.com/post/87226887951/shawnali-medicalschool-the-human-brain

That image above is virtually the same as you. A brain that contains within it everything that you are and will control everything that you do for the rest of your life. Of course you are in control (sometimes debatable), it is your brain, but it still is non the less wondrous to consider the significance of that one piece.

We think of things like soldiers, politicians, the celebrity superstars of our times. People admire them and aspire to be them. And yet when it boils down to it, they all have the same looking brain that you do. Its an image that speaks to not just how fragile we are, having one piece of ourselves that at the moment we can never change, but also how we are all so alike. Without going overboard we are one and the same and the image above really affirms that.

To link it a bit to business and entrepreneurship. Many would consider entrepreneurs to be a different breed of person, someone who is characteristically different to the majority of the business world. I'd confidently say that for some, they feel like they can't make it for themselves and that they couldn't possibly succeed. But why? I have a brain and you have a brain. Richard Branson and Bill gates also have brains (although with Bill Gates and the last few windows operating systems I'm not 100% sure). None the less, if one day you happen to think you want to make a change in your business life, but doubt you can do it, just look at that image above and you'll see that anyone can achieve anything. You just have to put your mind to it.

Thanks again for reading and as always, if you have any thoughts or ideas on this topic please post in the comments section below.

Keep With the Times or Your Business Will Die Trying

Today we live in a world where the products of today are likely to be outdated in just a few months time. We see this with things like the hard drive in your computer. Only a few short years ago the thought of having a relatively cheap computer with multi-terabyte storage was insane, and being able to have a laptop that ran all day was impossible. Now it's common practice. Back in the early 2000's we used to take pictures with dinky little plastic cameras like the one below. Now though, your camera is on your phone. Along with your music player, games, contact book, email, internet and a million other functions. The world moved on quickly from pictures on film to pictures in cyberspace.

Image from Amazon

This was not something which Kodak took action on. They stubbornly decided not to move with the trend and believed that their product was superior to that which was being developed. Rather than see the future, which was digital photography, they chose to invest and pursue other ways of making their films better. Lets not forget that digital photography was something that Kodak themselves invented and yet chose to ignore.

It wouldn't probably be surprising then to say that because Kodak chose not to pursue the new digital form of picture taking, they ended up going broke. While everyone else was moving forward with the new, Kodak stuck with the old and the results of doing so are clear to be seen. Kodak is now no more.

So what can we learn from this? Well its important that any company can not only develop and build new technology, but also adapt to it if they can see a shift in the market. A business should also always be open minded to the idea of changing their flagship product, or tossing it out in favour of the new and the 'better'. Any company should also encourage firm testing and analytics of not just its products, but those being developed for implementation in the future. This is so as to accurately gauge their market worth and potential to drive sales.

In short then don't be like Kodak. Embrace new technology and embrace change because in the fluid world that we now live in, keeping up with the pack is life or death for any business.

As always thanks for reading and if you have any thoughts on this, please post in the comments section below.

Why You Should Share Your Ideas

Time and again it had been made clear to me, by family and friends, that talking to people about your business ideas is a big mistake. In a world where information is so freely available and spread at light speed, we are protective of that which we can still keep secret.

For many entrepreneur and even business leaders, this is the case when it comes to business ideas. At first glance it does make sense to keep your next big product to yourself. Because somewhere out there someone is bound to take it and make it their own, right? And that's what I was told again and again until I no longer questioned it. However once you actually think about it, you will see that sharing your ideas can be one of the best things you can do for your business.

Image taken from 'Share To Make Ideas Happen' by Behance Team

In order to explain, I'll be using a Forbes article by Patrick Hull as a backdrop. Patrick has over 25 years of entrepreneurial experience to his name and his article works through some key points as to why you should be talking about your ideas.

"I’ve heard a lot of great concepts for startups. I try to work with and help the ones I really liked. I don’t try to take those ideas and make them my own. For starters, I’ve got too much else on my plate to worry about taking someone else’s idea. I think this is true for most people"

I can personally vouch for this. Through my own entrepreneurial journey I have met individuals who have the resources and know-how to take my idea and turn it into a business tomorrow. But they haven’t. Why? Because ideas are cheap and you are almost certainly more passionate and committed to you’re idea than 99.999% of the world. Talking about your idea is easy, but turning it into a real business is the truly hard part and something which most aren't prepared to do. So don't be afraid to speak to powerful and capable people about your idea. Often if these people like your idea they will want to help you to prosper and succeed, not steal it and show you the exit.

"I’ve found it incredibly helpful to bounce ideas off others and ask for their feedback. In return, I’ve gained valuable insight and perspective that I wouldn’t have otherwise received…In many cases, they might be able to connect you with someone else who can help turn your idea into reality”

If you want to be a successful entrepreneur, having a strong network is essential. No one person can do everything and so we are constantly reliant on the knowledge and skill of others. This is where the value of speaking to other comes in. Just as Patrick says, some of the biggest realizations you will have in building your business will come from others. I know that some of the most drastic changes my business has already undergone in our short few months of development have come from people’s feedback. Meetings, pitching events and informal discussion have almost always yielded valuable feedback that have lead to a more refined idea and therefore end product. Also, by engaging in conversation about your idea, you can utilize and explore the networks of those around you. For instance, I have managed to find some of the key suppliers I will need from speaking to friends and family.

Image taken from 'Facebook and the Small World Experiment' by Winnie Hsia

It is said that we are all separated by only ‘6 degrees of separation’. So can you imagine how many people you could potentially get in touch with by asking just a few of the folks you know about who they know and who they could refer you too. There is certainly big potential in it. So get out there and get talking about your ideas, because there plenty more people out there to help, than there are to steal your idea.

Thanks as always for reading and if you have any thoughts please post them in the comments section below.

For more information on the article go to: http://www.forbes.com/sites/patrickhull/2013/06/13/talk-about-your-idea-it-wont-get-stolen/

Australia Needs Better Science

For this post I thought I'd delve into politics for a bit, a change of topic from my other posts.

At its heart scientific progression requires funding. Even with ample manpower the scientific community has, it requires funds to do research, do experimentations and further current knowledge. Under the current Australian government there appears to be a deficit when it comes to the allocation of government funds to research initiatives. As a first world nation aiming to be at the forefront of research and development in all of the major fields of science, Australia needs its government to make scientific funding a priority. 

The role of scientific policy is not as influential as it should be. In the face of increasing global acceptance of climate change the Australian government needs to be able to access well documented research to make informed decisions. These informed decisions are likely to result in the reduction of unnecessary costs, particularly valuable given that Australia has at current a financial deficit. However this is difficult to achieve if the scientific community is being chocked by a lack of funding. The scientific community as a whole also needs to be given more spotlight on its contribution to society to increase awareness and build stronger relations between it and the wider public. 

If I were to provide a recommendation to increase scientific exposure, I would say that the first and most important thing this government needs to do is create an ‘untouchable’ reserve of funds far greater than the current $20 billion in place. The initial outlay of cash would, I believe, result in major future savings. Despite increased costs, as discussed by Australian Chief Scientist Professor Ian Chubb, “future generations also need a future”(Chubb, 2014) and this future requires strong scientific faculties. In medicine, engineering, biomedical fields and many more, scientific progression yields more efficient ways of doing things. In turn these improved methods and practices are certainly going to streamline production and health care, which are currently major consumers of government funds and encourage more people to enter scientific fields.

Thanks for reading and if you have any thoughts, please write them in the comments section below.

Sources:

CHUBB, P. I. 2014. Need a 'whole of government' approach to science. In: ALBERIC, E. (ed.) ABC Lateline.

Is It Ok To Work With Friends?

On the whole, yes! I remember a few months ago when I was thinking about who I wanted on my team for the business I planned to build and thinking 'can I ask my friends or is it a bad idea?'. I'll be honest, I got some mixed opinions from both family and friends as well as the suppository of information that is the internet. While those close to me believed that you shouldn't mix friends with business, the overwhelming opinion online, from leading business people, was that it can be a great idea.

Of course there will always be the issue that if things go belly up, a relationship could be soured. However having said this, if you have a strong relationship with someone and you keep talking about whats going on now and what may happen in the future, it will be easier to work through issues that arise. The benefit that I have experienced from bringing on a friend as a work partner is that you generally know each other like the back of your hand. Meaning that you don't have to waste time getting to know how each other, and can press on with converting ideas into products. Of course you will still need to see how you will work as a team, but this is not a deterrent from trying it in the first place.

Just as I said at the start of this post, It can be hard to decide if it's a good idea to work with your friends on your business idea. But from what I have seen, working with those who are already closest to you creates a more relaxed and progressive environment. It also gives you the confidence to contest ideas on the spot which makes coming up with even better ones simpler and easier to do. So if you have a friend that you want to work with, go and speak to them! You never know what might be possible.

Top 3 Things To Make The Average Working Week A More Wholesome One

We all want to live our lives to the best of our abilities. We want to share experiences with people and indulge ourselves in the little things, like chocolate or wine, that bring a smile to our face. I'd like to add a few more things to the normal week that I think will make each one more fulfilling, productive and enjoyable.

1. First is almost always the best and so the most important point on this list. Reading is one of those things that many of the most successful and prolific business men and women do on a daily basis. Apart from the obvious benefit of not having a screen in your face, which is a big no no before bed, it allows you to distance yourself from the world around you. It can be humbling and soothing to take some time out of your hectic schedule and engross yourself in a book. The topic is almost irrelevant. For instance I just read 'The Martian', which is a phenomenal read, and once I finished that I moved to a Jeremy Clarkson book. The effect though remains the same. You go to sleep more relaxed and more distanced from the issue you got into bed with that have been bugging you since you left work. This means that when you get up you're more likely to be ready for the day to come, and so the benefits accumulate. Want more reasons to read? Well here's another 10!

2. Always make time for others. When work or life gets you down its important to be able to take a step back from it all and enjoy a few casual hours with some friends. I used to think that being with my mates was sucking time out of other work I needed to do. Oh how wrong I was. Once I started to think about it I realised that being with my friends offered a get away from the other stresses in my life. It's so crucial in the world that we live in that we can get away from it all and just enjoy the company of others, away from screens and noise. You're relationships with the people around you probably hold you together more than you realise so give them (and you) the time and respect they deserve.

3. Do something a little different every week. Now I'm not asking you to try snails or go bungie jumping because that would be impractical and (subjectively) disgusting. But trying a new cafe or restaurant, seeing an old friend, even going for a walk when you normally wouldn't can make a big difference. There is a weird satisfaction that many people derive from doing something different to the norm. A sense of achievement that they have for a few key hours broken the normal progression of the week. Variety is the spice of life after all!


Thanks for reading and as always please leave a comment if you have any thoughts on this post. Maybe you have some more ideas to add or have used these points already in your own life. I'd love to hear if you have.

Be well and I'll be back in a few days with some more tips, tricks and thoughts on the entrepreneurship and the wider world.