What's your name? Hey, what's your name? [chuckle] In this episode number five, of build your army against your alarm clock, your 9:00 to 5:00, your trading time for money, we are talking about naming your business. If you are about to embark in a side hustle or a full-time business after leaving your corporate gig or you are just pivoting from your existing business, because you feel stuck and your growth is limited in what you're doing now because you have to physically be present to earn your revenue, we are talking about automation and not only automating your business, but automating your income stack. An automated income stack, what the heck is that? That is creating multiple sources of automated revenue with your same clientele, in your same related category of business. After looking at your branding, now it's time to name that business. My rules for naming your business are: This is of course, if you're going with a company named business, like a corporate name entity brand and not just using your personal name. If you're using a personal name and you have the dot com and you're comfortable with that, go forward, all the power to you. There is no right or wrong answer here. If you have an existing business and you're staying in that same target audience or same related category, same business model type of thing, you're just expanding on what you do. If you're a hairdresser, let's say, and you have a company name already and now you're going to go online, you're gonna take your offline business online with some courses on hairstyling and things like that. Then just go with the same name, if you like it, just move ahead with it. So you're good. This is for the folks that are embarking on a new business or pivoting into a brand new business or starting from scratch. My rules of engagement, when you come up with your name, you should have a visceral feeling. What the heck is that? It has become my favorite word in the last year, but it is just in your nerves and your bones, you just feel it, it uplifts you, you get this chill maybe when you say the name or the shoulder test that I like to refer to. And when you say the name, you will feel energized. If you don't like it, you're gonna feel dull. And it is okay to have a little bit of doubt, but don't let it overtake you. If you're proud of the name and it feels good saying it and you just feel your shoulders uplift and your weight feel lighter, then that's that visceral feeling, I'm looking for. If your name tells a story, fantastic, I'm a huge fan of three-word company names for some reason. My corporate entity is entrepreneur like a boss. And my course is build your army. So three words there. It's a phrase, if you notice, entrepreneur like a boss is a phrase, build your army is a phrase. The other trick with phrases, is your dot coms are easy to obtain when you have a phrase as your company name. So that's another benefit. And it tells a story. Build your army. What kind of army are we building here? As I said at the beginning of this episode, we're building an army against 9:00 to 5:00, our alarm clock, our trading time for money, having to be present in our business. We're trying to automate, we're gonna build an army of revenue streams because we have multiple sources of revenue that we're creating. That's the story my company name tells. With Entrepreneur Like a Boss, and this isn't about tooting my own horn, [chuckle] but these were steps that I went through in coming up with the name and things that I experienced myself which is why I'm using them as examples because I can't speak for how other people felt when they came up with their company name or when they went to their bank to open up their bank account. When opening up my entrepreneur like a boss corp bank account, I got the bank teller’s attention right away and they were asking what's the business? And thought it was a very cool name. I was getting positive reactions for my company name.
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