Hey Bulldogs! John Sonmez from Bulldog Mindset Here, where I teach you how to go from the Victim Mindset to the Bulldog Mindset.
For today’s video, I’ll be talking about one of the most critical common mistakes aspiring entrepreneurs commit, when they’re starting their first online business, which is whether you should use your own name or a business name when starting a business, a blog, an online business, branding, consulting agency, building a social brand and marketing your business in general.
What I would usually say to people I coach and train is don’t start an online business or any kind of business without knowing this, it is critical to your vision and to what exactly you want to grow your business to become and whether or not you want to be associated with you business forever and finally to which degree you want to scale it!
You might think that is doesn’t matter, to use business or personal name for branding purposes, however as I said before it all depends on the kind of initial attraction and scaling and the exit strategy you have in mind.
A great example of personal branding, is Tony Robbins, or Oprah, these business are built on their names, these people are the identity of their business, if you remove them for it, it will fall!
And because of that, there is no exist strategy, they can’t really sell the business to someone else, nor separate themselves from it and there is only so much you can scale it.
As for branding think about Facebook, Apple, Microsoft, Google and such business, if for example Apple was build on the name of Steve Jobs, it wouldn’t have lasted after he passed away, and to reach that scale of corporate giant, it is a must that your business appear as a separate brand than your personal name.
These brands were able to go public and big because they are separate entities than their founders, which gives them an exit strategy allowing them to sale the business, bring other talents to work on the business, separate themselves from the business, scale the business to giant billion dollars machine ect…
You might think that you’re not envisioning your business to that big, so I will give you example of my two brands, Bulldog Mindset and Simple Programmer, difficulties I had first when I tried to separate myself from the business and the pros and cons in general!
Hopefully this video help you decide on the route you would like to choose later in growing your business!
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