Yoli Founder Daren Falter answers the question “What’s In A Name?”
How to Select the Right Product Industry
What NOT to Sell, and Why
PART II: The MLM Name Game
(Stole title from Len Clements, Thanks Len)
By Daren C. Falter, Author of How to Select a Network Marketing Company
What’s in a name?
This may be difficult to believe, but one of my all time most reliable criteria for eliminating bad companies from my consideration is to simply review the company’s choice in corporate names. With nearly 100 percent accuracy, I’ve been able to predict the demise of hundreds of companies. Some may call it a gift; I simply call it common sense. Take, for instance, the following examples of names that could literally drive a company right out of business. These are just a few of many examples of names that have been used in network marketing.
The first way to commit name suicide is to try to use pieces of the most overused and overcopied names in the business. These names are usually borrowed from some of the more legendary companies. The fact that they were used the first time is not the issue. It’s the constant attempt to reapply them that creates the problem. Here are some words to avoid when naming your network marketing company.
• (anything) Way
• Life (anything)
• Natural (anything)
• Nu or New (anything)
• Wealth (anything) or (anything) Wealth
To keep the network marketing industry safe from scams and schemes, governmental regulators are always searching for programs that appear to be illegal. Even if a company is totally legitimate, it must have a name that does not draw unnecessary scrutiny from regulators. Here are some companies that send the wrong message with their company name.
• EasyWay
• Everyday Wealth
• Share the Wealth
• Cruise to Cash Vacations
• Health 4 Wealth
These companies do not focus on a traditional product openly accepted by the marketplace; they focus on the concept of making money. When you lead with money- making, you may as well be vigorously waving your red flag in front of the government, taunting them to take aggressive action against you.
Now I don’t mean to insult anyone’s intelligence, but you might agree with me that these next few names are lacking a certain something. I’ll let you draw your own conclusions to these company names.
• 1to1everyone
• Awesome Specialties
• Y2K
Here are a few more names that might raise an eyebrow or two. Now that we’re getting better at this game, why don’t you tell me what is wrong with these names? I call these the scary names.
• United Sovereigns
• Iron Curtain Labs
Actually, that last one is totally legitimate. In all fairness, Iron Curtain Labs markets body building products. I don’t want any of their spokes model coming to my house to crush my spine so I’ll let them off the hook. However, at first glance, your thoughts might turn to the Cold War rather than protein powders and energy pills. Remember, first impression count.
The following three names receive the Bad Acronym Award for obvious reasons.
Give these a quick read through and you might get a chuckle.
• Pro Ma Systems
• Staff of Life
• State of Being
Now I’m not saying that giving your company a weak name will put the company out of business. I’m also not saying it won’t. But I do stand firm to the belief that if these companies do survive the test of time, they’re limiting their potential with names such as these. Branding starts with selecting the right name for your company and products. If you don’t have the gift, hire someone who does.
About the Author
Daren C. Falter is the author of the network marketing industry-wide best seller How to Select a Network Marketing Company. Daren has been a consultant to the network marketing industry for over 12 years and a student and participant for over 20 years. Daren has built downline organizations into the tens of thousands of distributors with several different companies. Daren is a popular convention speaker and trainer. You can visit Daren online at his blog at www.networkmarketingreview.com. You can also order Daren’s best-selling MLM book at www.networkmarketingbook.com.
Daren recently launched a new network marketing company, Yoli, Inc., near Salt Lake City, Utah. Daren and his four partners are excited to introduced the worlds most nutritious beverage using patented BlastCap™ Technology. For more information about Blast Cap Technology, Blast Caps, or Yoli, visit Yoli at www.prelaunchinsider.com.
Copyright ©2009 DC Falter Marketing, Inc. ALL RIGHTS RESERVED
ATTENTION: Breaking News!
Daren Falter will be launching a new company called Yoli. We will be introducing an incredible new nutritional formula in the form of a delicious functional beverage using Mikel Anderson’s patented Blast Cap Technology. The founders of Yoli are Robby Fender, Daren Falter, Rick Eisele, Corey Citron, and Michael Prichard. To find out more about Yoli Blast Cap Technology, visit www.prelaunchinsider.com
Kingsley Ennis is one of the few “hand selected” FOUNDING DISTRIBUTORS that are helping to launch this new company … and you can join him and one of the fastest growing teams in all of Yoli at the very beginning of this great network marketing adventure!
With a background in the Seminar Industry and 12 years of Noteworthy Success in Network Marketing Kingsley is the Author of “Split Second Marketing” & “Your Extreme Advantage”. You can listen to them FREE at www.usahomebusinessexperts.com
QUESTIONS ABOUT YOLI? Email kingsley@goyoli.com or call 717-303-5710.
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