Business name?
- Thread starter pob
- Start date
Tommy K
Well-known member
You just need to get creative. Our name Alter Ego Media comes from real life experience. You see years ago when I started in video production, I was actually a competing world class Powerlifter and won many titles and held lifting records. My team mates and friends found it incredulous that I had this artsy and creative side that I was exploring through video production. I guess a muscle head isn't supposed to do this... So they started referring to the video production as my "Alter Ego". My company name was born. My partner and I have the name registered as a fictitious name and as an LLC. Your name can come from anywhere, just come up with something personal and close to you...
Zissou
Well-known member
mine is similar...
P from first letter of first name, 'aris' from last name (minus first letter) plus word 'Media, equals Paris Media. Also works because we are looking into opening an office in Paris, France lol. My last 2 companies (one was manufacturing aftermarket auto parts, second was also HD/SD content related) were also related to my name as well as those of partners etc.
I'd like to throw a little advice into this pot. I have owned several different business over several decades, and had to name them all. And in one or two cases, I wish I had been more conservative. In this case, we are dealing with a creative type business, so many people use outlandish and nonsense type names. And to some extent people accept that. Let me ask you a couple of questions:
If you were looking for a video company in the phone book, would you cold call a company with a weird name to shoot your wedding or corporate event?
If you were handing out a business card to a conservative corporate exec, trying to win an opportunity for a big fat deal, how would you feel giving out a card that had a weird name?
The point is, you may have to live with a business name for many years, and it needs universal appeal. A conservative name sounds more established and credible. Credibility in a work for hire situation is key to selling the job. We creative types may not understand that a conservative customer (with MONEY), may not take a unusual or nonsense name seriously. Though it may run counter to your own creative flow, IMHO your business name needs broad appeal.
"Slasher Video Company" may not work for a boardroom presentation with a bunch of suits.
Grant
If you were looking for a video company in the phone book, would you cold call a company with a weird name to shoot your wedding or corporate event?
If you were handing out a business card to a conservative corporate exec, trying to win an opportunity for a big fat deal, how would you feel giving out a card that had a weird name?
The point is, you may have to live with a business name for many years, and it needs universal appeal. A conservative name sounds more established and credible. Credibility in a work for hire situation is key to selling the job. We creative types may not understand that a conservative customer (with MONEY), may not take a unusual or nonsense name seriously. Though it may run counter to your own creative flow, IMHO your business name needs broad appeal.
"Slasher Video Company" may not work for a boardroom presentation with a bunch of suits.
Grant
I hadnt even thought of it like that. Thanks for the info :thumbsup:
mainstreetcm
Member
Mine was easy to come up with because I'm a branding junkie (everything has to be just right).
Anyway, First Name: Skyler; Last Name: Steven
Skyler Steven Entertainment
I am in the process of adding web design and search engine marketing to my services, thus next year I am incorporating and changing Entertainment to Company...
The Skyler Steven Company
Anyway, First Name: Skyler; Last Name: Steven
Skyler Steven Entertainment
I am in the process of adding web design and search engine marketing to my services, thus next year I am incorporating and changing Entertainment to Company...
The Skyler Steven Company
Nothing wrong with branding yourself, it is very effective in the near term. Service businesses do this all the time, and video for hire is a service business. Putting your name on it says "I hang my name on every job". If there is a problem, people know who to call.
But in the long term, is that a branding you can sell when you want to? Branding is more than the present tense, branding is something that can have its own value in the long term. It diminishes the value of a small company if it needs to change names with a new owner. At that point you may just be selling equipment and not a brand. Does Fred Smith want to own the Skyler Steven Company name? If your name were Disney, the answer is yes, for most small companies, not so much.
One of my businesses was quite successful in a small way, lots of business, seven employees, factory sales and service, blah, blah. But I made a branding mistake in that I built the business too much around myself: I was the brand. And when I wanted to get out, I found out that all I had really done was bought myself a profitable job. Nothing much to sell except inventory and machinery.
Self branding is Ok as long as you realize the issues later.
Grant
But in the long term, is that a branding you can sell when you want to? Branding is more than the present tense, branding is something that can have its own value in the long term. It diminishes the value of a small company if it needs to change names with a new owner. At that point you may just be selling equipment and not a brand. Does Fred Smith want to own the Skyler Steven Company name? If your name were Disney, the answer is yes, for most small companies, not so much.
One of my businesses was quite successful in a small way, lots of business, seven employees, factory sales and service, blah, blah. But I made a branding mistake in that I built the business too much around myself: I was the brand. And when I wanted to get out, I found out that all I had really done was bought myself a profitable job. Nothing much to sell except inventory and machinery.
Self branding is Ok as long as you realize the issues later.
Grant
AwakenedFilms
Veteran
AWAKENED FILMS LLC - Creative Visual Storytelling™
www.awakenedfilms.com
Agreed. I was not looking to be 'self employed', rather, I wanted to grow a successful business. I believe name gives purpose. I was sure about the 'theme' of my business name, but not the actual name. I also wanted something in the beginning of the alphabet as to facilitate phonebook / web advertising. It was a 3 month process of trying different ideas until we decided on Awakened Films.
As for the actual process of incorporation - its rather straight forward and does not require a lawyer. You will want to research (and possibly get legal / accounting advice on) the different types of corporations and different states for incorporation. You will also have to do some searching for similar / conflicting names already incorporated in your state. For us, incorporating a Single Owner Limited Liability Corporation in our state was the best fit, and there were no conflicts or problems along the way.
Best wishes on starting your business!
Jason
As Jason mentioned, incorporation is pretty easy, and you so so with the state in which you live. The biggest corporate decision for a small business is how to elect your corporate status for federal income tax. I am not so familiar with LLC status, so maybe Jason can help there. Here is the primary tax difference between the two primary types.
C corp status requires a corporation to pay income tax and it allows you to carry forward on retained earnings, meaning that after the corp pays income tax, it doesn't have to pay dividends to the owners. This can allow you to defer income from your corp.
S corp does not pay income tax, but requires the owners to declare all yearly profit as personal income. You cannot carry forward earnings, meaning all earnings must be declared by the owners as personal income tax, each year.
Usually for closely held companies like a single owner, the S corp election is best. If you need to spread your income burden over a longer period of time, the the C corp might be better. C corps are significantly more complicated from an accounting point of view, so expect more $$ paid to your accountant.
When you incorporate, you are a C corp until you elect to S corp, so if S is your intention, you have to file a 1 page form before you file your taxes.
Any decent business accountant will help you with all this and can help you make a decision in less than an hour unless you have some significant existing stuff to take into account. And you can change it your filing later if you need to change.
Grant
C corp status requires a corporation to pay income tax and it allows you to carry forward on retained earnings, meaning that after the corp pays income tax, it doesn't have to pay dividends to the owners. This can allow you to defer income from your corp.
S corp does not pay income tax, but requires the owners to declare all yearly profit as personal income. You cannot carry forward earnings, meaning all earnings must be declared by the owners as personal income tax, each year.
Usually for closely held companies like a single owner, the S corp election is best. If you need to spread your income burden over a longer period of time, the the C corp might be better. C corps are significantly more complicated from an accounting point of view, so expect more $$ paid to your accountant.
When you incorporate, you are a C corp until you elect to S corp, so if S is your intention, you have to file a 1 page form before you file your taxes.
Any decent business accountant will help you with all this and can help you make a decision in less than an hour unless you have some significant existing stuff to take into account. And you can change it your filing later if you need to change.
Grant
Alan H. Chang
Veteran
Coral Canopy
What does this mean or sound like to you?
What does this mean or sound like to you?
Alan H. Chang
Veteran
Really sounds like something you put on a pickup truck? shucks. Maybe it sounds like water canopies for a shelter or protection from the elements for open environments? Hence your thought on the pickup truck.
Originally meant for a non-profit org, but didn't turn out the way I wanted in the startup stages. Then, I decided to just put this together for all sound related business. At one point, I've thought of branching out into different industries incl. A/V architectural designs for projection systems, photography, etc. for creative arts and science.
There's already a slew of org that help and protect widlife and our environment, but the idea I have is to create a set of boundary standards through technology. Something I can't say aloud.
A
Jason Ramsey
Admin
why not just call it "Pob" 
why not just call it "Pob"
lol, no.
I've still had no luck with thinking of something suitable.
I suppose since I've ripped on everyone else, you should get your opportunity.
Visual Services Inc.
Now I admit that is really boring for a creative business, but I do some photography and 3D computer modeling in addition to video, so a video specific name doesn't work. Mostly I deal with industry, so a glam name doesn't wash well.
OK rip on.
Grant
Visual Services Inc.
Now I admit that is really boring for a creative business, but I do some photography and 3D computer modeling in addition to video, so a video specific name doesn't work. Mostly I deal with industry, so a glam name doesn't wash well.
OK rip on.
Grant
AwakenedFilms
Veteran
LLC's limit the liability of an owner, just as a C or S corporation, but they are pass-through entities. Taxes are not paid by the corporation, rather they are passed on to the owner or member(s). This can be advantageous or disadvantageous depending on how much profit there is. A good accountant can 'elect corporate' status when filing and avoid the disadvantages of the pass-through status if needed.
LLCs don't have double taxation, like S and C corporations and also have very simple paperwork when filing for status or taxes and do not need to file ongoing board meeting notes to the government. Members of an LLC can also take an 'owners draw' from the corporation by simply writing themselves a check.
Do some research and see an accountant / attorney before deciding what status is the best fit for your company. No matter what route you take, incorporating makes great sense - write offs, liability protection, credibility with banks...etc.
Jason