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Licensing and Other Regulatory Requirements (Tips to getting started)

The Top Sixty Over Sixty Licensing and other Regulatory Requirements guide helps you to focus on those things you have to do as a business and directs you to resources to help you get them done.


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Excerpt from Licensing and other Regulatory Requirements


Licensing and Other Regulatory Requirements

There are numerous “first” tasks when establishing a business. In addition to opening a new bank account, choosing a structure and deciding on the name of your business, the following provides a quick guide to help get you on track and stay there.


Naming Your Business and Your Web Domain Name

Think carefully about what you call your business and how easily it can be remembered. Consider asking friends (or even better, strangers) for their input. Make sure the name reflects what you do, sell or something about your particular audience. Even if the business name is your last name add qualifiers for clarity. For example, the name Yearwood or even Yearwood Consulting doesn’t really tell people what you do, but Yearwood Communications provides a little clarity. Creating a name can be both fun and challenging, take your time, there’s nothing more frustrating than getting stuck with a name that doesn’t work or one you have to constantly be explaining. It's also an expensive exercise if you have to change it later on.


A business name should also be consistent with the voice of your brand. Is it playful, serious, clever or optimistic? Whatever you choose, make sure it's also memorable. This is not always easy but if you can anchor your brand name in two sensory places it's more likely to be remembered. Consider something that calls to mind a physical and emotional memory. Use familiar words or sounds. To be memorable it should also be short. Long brand names are not only difficult to remember, but they also make for awkward logos or wordmarks.


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