Tips to Create Catchy and Appealing Business Names

If you’re planning to start a business, you generally need to pay attention to many things. This involves devising a certain plan, arranging for finances, personnel recruitment, and similar tasks. One of the most important parts of starting a business is giving a name to it, which will serve as the main identity factor. Since there are many businesses out there in the commercial industry, you need to choose a very unique name. Besides, along with being unique, the name should also be decided according to the type of business you are going to carry out. Another important thing is not to choose one which is similar to other businesses. Doing so may get you involved in legal issues and ruin business plans.

Creating a Catchy Name for Your Business

Real Names of Owners
This is the most traditional way of choosing a unique name for a to-be-formed business. You can choose you name directly or include your partners’. Good examples of this kind are Mercedes, Porsche, Cadillac, Chevrolet, Ferrari, Tommy Hilfiger, etc. You will surely feel proud to have your name circulated in all business matters.

Type of Business
Next step in selecting a unique name is to determine the type of business. It is better to choose a name which describes the kinds of products and services the business is going to deal in. There are many good examples at this point such as Pizza Hut, Burger King, Dunkin’ Donuts, Cafe Coffee Day, and similar ideas.

Unique Words
Another option is to think of a unique word for your business. You may even choose one which does not directly give an idea of what your business is all about. For instance, Apple, Amazon, Windows, Oracle, and other names. A one-of-a-kind name is what will give the business a new identity and goodwill. Nevertheless, deciding on such a name is one of the most confusing tasks.

Acronyms or Abbreviations
Many big brands have gone with the rule of setting an acronym as a primary name. Names with abbreviations do create a curiosity amongst people about knowing the exact meaning of the word. Some of the names for reference are KFC for Kentucky Fried Chicken, BBC for British Broadcasting Corporation, BMW for Bayerische Motoren Werke and FIAT for Fabbrica Italiana Automobili Torino.

Two Word Combination
A name with a two-word combination will also serve the purpose of creating a catchy name for the business. It is better if the words are something that will show the brand’s reliability. Some notable companies are Accenture – Accent on the future, FedEx – Federal Express, Infosys – Information Systems, Procter & Gamble, and so on.

Second-language Words and Meanings
In order to give a different touch to the name, you can think about calling the brand after a name from a different language. Examples include Sony – a Latin word for ‘sonus’ which becomes ‘sound’ in English, Volvo – a Latin word which is referred to as ‘I roll’ in English, and Volkswagen – that is a German reference for people’s car.

Spelling Modifications
Spelling modifications is another effective way in which you can name a company. The pronunciation remains the same but the spelling changes, which makes the name all the more interesting. Good brands name examples with changes in spelling are Topix, Brainz, Moonz, and similar other ones. In such cases, there are very less chances of the brand names being identical to another company.

Signs, Symbols, and Logos
The usage of signs and symbols in brands names are becoming common nowadays. This gives an informal and personal touch to the name, making it customer friendly. You can use an ‘!’ mark in the name, like in Yahoo!; add a ‘-‘ in between two names, or include ‘@’ instead of the traditional ‘a’. You can even make a logo for your business, which can serve as a stamp and for advertising. Almost all brands have a logo after or near their name.

These are some ideas regarding how to create a catchy business name. Choosing a suitable name the right way will certainly help your business to attract more customers. It will also help in the advertising purpose. You can include your own creative ideas on naming the business, since you are supposedly the owner.

Tips on Start a Medical Supplies Business

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Buying a franchise will ensure that you will be able to survive the initial teething troubles of the business and make it big in the long run.
Whether it is human or veterinary medicine requirement, medical supplies are a necessity for both the fields. Working as a medical supplies retailer is a good way to get associated with the health care industry. This business is one such venture where you will have to keep abreast with the latest developments in the medical equipment and supplies domain.

You will have to upgrade your stock to keep up with these innovations in the medical industry from time to time to ensure that you get a good profit margin. However, you must get a medical supplies business plan in place to get your venture moving in the right direction.
Conduct Market Research
You must explore the possibility of starting the business by conducting a market research about it. Speak to people who are already in this business to understand about the investment, response, prospects, profit margins, risks involved, etc. You must understand whether undertaking such a venture in your locality will prove profitable. Study the prevalent competition in your area, and decide your strategy. Learn how your competitors are making money, and check which products have maximum demand. Check the price they are quoting for these products, as it will form the base of your own pricing policy. Study how this business will fare in the years to come before plunging into it

Arrange for Funds
Starting this business is usually a very costly affair. This is because the supplies always come with an upgraded medical technology. The level of investment will also depend on the type of products you intend to sell. A product with critical technology will prove to be a costlier investment than that which is a part of normal medical supplies. Try to avail for an SBA loan or a bank loan to support this venture through its inception stage. Good returns on this business are guaranteed. Hence, in most cases, you will be able to repay the loan easily.

Identify Your Target Market
Know your target market well. It can be dentists, midwives, baby boomers, medical facilities, etc. You have a lot of choice when it comes to such a business. You can either choose a particular niche or have an all-purpose store. For example, you can either supply only medical supplies meant for dental procedures or you can offer all the supplies required for medical purposes including surgical equipment, gauze and band aids, syringes and needles, wheelchairs, bath seats, arm slings, etc. Understand the requirements of your target market and cater to them. It is always better to start with a niche and then expand the business

Register Your Business
You will have to register your business with the IRS for your tax formalities. You may also need to consult your state and local authorities to understand if you need licenses to sell a particular type of medical equipment. Hire a professional to look after your accounts and tax requirement. You may also have to register your business as “doing business as” and also get your Employer Identification Number. Apart from this, you will also have to get the necessary permit for carrying out a retail or wholesale business.

Scout for a Location
You will have to search for a place based on the type of business you would like to set up. It is advisable that you hire an outlet initially as buying a new place will blow up your budget. Ensure that the place is clean and has rooms to store your stock. If you are planning to have a retail store, you will have to set up a small- or medium-sized store. However, if you intend to sell it on a wholesale basis, you will require a larger facility. Also, if you want to sell the medical supplies directly to the consumers, it will have to be located near a health care facility. If you intend to sell bigger supplies like wheelchairs, you will require a lot of space, so plan accordingly. If you are storing supplies that can get contaminated due to change in temperature, you will have to hire a warehouse which will be temperature controlled for storing them. You also have an option of delivering the products directly from the manufacturer to the end user. However, you need to have an effective supply chain management for this to work.

Source Products
You will have to order the supplies from a distributor or vendor, if you are not manufacturing them yourself. You will have to decide about the quantity of products and their cost to be paid to the distributor or manufacturer. Remember, the difference between the price at which you buy and sell to the consumers is going to be your profit. Also, you may incur some cost for transportation, tax, and packaging the supplies. Hence, decide the best price accordingly. Source your products from reliable manufacturers as faulty products may affect the patient’s health. In case of any complaints regarding the products, you will have to speak to the manufacturer and replace them immediately. Try to keep the products in labeled compartments in a large closet for easy identification.
Hire Capable Employees
In the initial days of the business, hiring a helping hand will become very costly for you. Therefore, try to run a one-man show, until the time the business picks up. After that, you can recruit people on a part-time or temporary basis. This will help you with the management of the business, maintaining and updating stock, replacing products, handling the cash counter, etc. However, ensure that you hire an honest and dedicated person, who will not cause an inventory fraud behind your back. As your business will expand, it is advisable that you hire more employees to help you out. It will be necessary to train these employees. You will have to impart training about where the products are located, dealing with customers, and encouraging them to buy more. Try to install an inventory management software to ease the stock maintenance process.

Promote Your Business
Like all businesses, even this one needs to be promoted to gain maximum profits. You can use the social media platform to speak about your venture. Creating a wellness newsletter for the local people every month will also be a good way to advertise. Once the business picks up, try to sponsor health care events with the local community, church, NGO, etc., to gain good mileage. You can aim at sponsoring medical awareness programs. You can also utilize the radio and television medium to reach many people. Use other print medias, like newspaper ads, flyers, posters, etc., to reach your target market.

Network and Expand Business
This is one business that can expand really rapidly if you have good networking skills. Offer incentive and referral programs for medical professionals for routing patients to your business. You can also have contracts with them for monthly medical supplies. Offer them good discounts and quality services. This will encourage them to refer your company to their colleagues. Perks like free delivery, schemes, etc., will also help create goodwill. Try to sponsor medical fairs and gatherings as this will also give you a platform to network with a number of people. This way, slowly and steadily, you will be able to increase your business. After a few days, start another store in a new locality. You can then proceed to start a chain of stores.

This is, indeed, a business that will continue to be in demand irrespective of the economic conditions. Now that you know how to start a medical supplies business, implement these steps for having a successful venture.

Ideas Marketing for a Healthcare Business

As the world reels under the pressure of several health problems, it is time that healthcare businesses create some serious awareness. If fast food restaurants can lure hordes of customers to their doorsteps, and mess with their health, then effective marketing tips will surely make a positive impact on the healthcare business too.

The point to note is that healthcare businesses need to target the right kind of people with appropriate advertising. For instance, targeting women, who play a major role in running households, will change the dynamics of the healthcare business. Making these women rightfully aware of their aging bodies, prone to possible health hazards, and making healthcare accessible to them is the exact way of tapping into a potential market that is both deprived of and ignorant of healthcare benefits. Likewise, here are some more tips that will prove beneficial for those looking to grow in the healthcare sector.

Essentials of Healthcare Marketing

Organize Healthcare Drives

Campaigning is an effective way to make yourself known to those who matter to you. As an organization or an agency engaged in the healthcare business, you first need to reach out to people to let them know that they can avail your services. Blood testing drives, simple health check-up camps, and free eye-testing days are some of the measures you can take for the community surrounding your facility. Reach out to people first so that they reach out to you when in need.

Conduct a Survey of Your Locality

Conduct surveys to know the demographics of the locality around your facility. As this will give you a clear breakdown of the age, sex, income, and collective understanding of popular health concerns, it will give you something to work with. Such survey is important to understand your possible clientele better in the long run. This way you can work towards designing medical treatments pertaining to a certain segment, which in turn will retain and increase your clients base in the near future.

Segmented Marketing

To have universally appealing marketing strategies is a dream come true. However, it just a dream. Thus, to begin with, draw up effective marketing and advertising plans to appeal to a larger segment of the demographics drawn up. For instance, if there are more number of kids in a given community, focus on issues pertaining to them. A good example is to focus on dental problems and dental care that will engage the kids’ parents in an effective communication with you. Thus, forging a valuable relationship that helps the business and the patients. Similarly, if the number of woman are more, breast cancer, osteoporosis, gestational diabetes, and pregnancy-related issues can be the prime focus. Think of how you can lure the larger segment of your derived social demographics to get to the remainder too.

Follow It Up

A marketing strategy doesn’t stop at just selling a product. It extends to following it up as well. Make follow-up calls to your clients with context to their next meeting with the healthcare expert, inform them of particular tests they need to get done, ask them how their treatment has fared so far, and pick a moment to introduce them to a new set of schemes that you may have on offer. A lot of patients look for palliative care units and other programs that offer benefits. Following up with your client’s medical treatment will help you establish a good rapport, retain them, and make a pitch for other services that you may have.

Get Online

With over a huge part of the literate world have access to the virtual world, it is time you go online and make your mark. Use the power of social media to attract a customer, blog about your services, get your patients to write testimonials for you, and ensure your presence in the web world too. While you are creating an online identity, ensure that your offline marketing techniques are equally in place. Keep all your staff informed, educated, and well-versed about your latest additions to the services. Your healthcare unit must give out a united vibe to every patient to keep winning them over and over again.

Study Your Competitors

The old adage goes, keep your friends close but your enemies closer, holds true in this case as well. Study your competitors to know what are they offering. Know their history of advertising, what has worked in their favor and those which haven’t, and their product launches. An over-competitive analysis will help you see what your competition holds for you, and the kind of effort you need to make to beat it.

Keep Evaluating

A constant evaluation that quantifies your actions so far in terms of sales, gained and retained clientele, and business growth, will show you both positives and negatives of your marketing strategies. Evaluations can be done through consumer feedback, surveys, and polls, to know the general sentiment about your healthcare facility. A self-assessment is always clouded by a prejudice towards the self; however, when you open your mind to an assessment by others, a huge scope for self-improvement becomes apparent. The common denominating factor of all these assessments should definitely be worth considering.

Your marketing strategy should be ingrained in your organizational structure for it to become a true success. A key point to be remembered is to always work in favor of your customers. The bigger the satisfaction quotient of your customers, the bigger your sales volumes will be.

Successful Karaoke Business Tips

Tip

Try to buy an existing karaoke business or become a part of a franchise, instead of opting for a start-up. This will not only give you an established customer base but will also be far less riskier than a start-up.
If you can sing, are an extrovert, and can entertain others, you will surely make a good karaoke business owner. However, this business will prove to be a disaster for introverted and shy individuals as they will have to deal with many people every day. It is recommended that you work for a karaoke business before plunging in it yourself. This will give you hands-on experience, and you will be able to network and market your business in a better way. If you do not have the funds for investing in a rental or permanent space, karaoke business is ideal for you. You can conduct this business by hosting shows at bars, cafés, restaurants, private parties, etc. However, remember that you will need to source some investment capital for buying all the equipment and paying your employees, if any. It is advisable to buy a digital karaoke system as it will save you a lot of money, effort, and storage space. If you want to know about a few more essential tips to start a karaoke business, read further.

Equipment

You will require a good karaoke digital system for your business where the files will be played from a laptop and the words will be displayed on the screen. If you think that you do not have the amount to invest in one, you can get CD+G discs which can be connected to a CD+G player, television, monitor, or screen for playing music and displaying words. You can buy karaoke CDs or download music from online websites. You can also buy karaoke music books or make them on your own. However, you need to make copies of these books so that people will select their songs and write them on the slips provided by you. Whatever you do, ensure that you will be able to play your customer’s choice of song in absolutely no time. You will also need good quality speakers, mixers, cables, extension cords, microphone stands, RF converter, and amplifiers. You will also need three wireless microphones. It is advisable that you get one extra as backup. Getting a wireless microphone is recommended because people tend to step on the cables and spoil them. It’s essential that you also carry spare cables, duct tapes, and a tool kit for a quick fix.

Conduct Research

Before jumping in this business, there are certain things which you should know. For example, you will need to know how many competitors you have, how much to charge your clients, which songs to play, dealing with difficult clients, etc. It is advisable that you speak to someone from the same business who operates from a different area. You need to keep abreast with the latest chartbuster songs as well as the classic ‘must-haves’ of a karaoke. Ensure that you have music which caters to all genres as people will like to sing different songs. You will need to have a business plan in place to organize the overheads and income of this venture. Ensure that you find a business mentor who will be able to guide you to go about setting this business.

Charges

Before you start this business, know about the prevalent rates for karaoke gigs in your area. If you are a new player, you may have to charge lesser to survive the competition. Many bar owners may not pay you well even if your show is a crowd-puller. Hence, decide and mention your payment terms in the contract itself. Also, ensure that it is mentioned in the contract about show cancellation or refund policies. Also, predetermine the amount of payment, time of the show, etc., during a private party. If you are to play a special dedication to a bride or a song while a person is proposing to his girlfriend, you can definitely go ahead and charge more fees. Ensure you include your travel and logistics charges in your final figure.

Business Expansion

If you do not want to own a karaoke bar of your own, you can always request hotels, cafés, restaurants, nightclubs, bars, etc., to allow you to host a karaoke night every week. You can also ask them to host open Mic sessions that will rake in business for both the parties. Other than this, you should also network with wedding and event planners who can recommend you for karaoke nights. This is one business that will prosper through word-of-mouth publicity. Host theme nights which will play a particular type of music; this will give you a lot of customers. Ensure that you have many satisfied customers who will recommend your business to their family and friends. Slowly, your schedule will be packed with offers for karaoke gigs.

Hosting the Karaoke Night

If you have to travel to some other venue, like a bar, café, bachelor or hen parties, birthday parties, etc., make sure you interact with the audience keeping in mind what they anticipate from this show. Wear clean and striking clothes; however, remember that you are only there to host the show. So, do not keep speaking, and encourage the other people to take over the Mic. Avoid passing negative comments about the singers as not all of them will sing with the finesse of the professionals. Have a professional attitude, and ensure that people are enjoying their karaoke time. If there is a ‘once more’ for a song, go ahead and play it again. If they request you for having a recording of their song, burn the CD of their performance and hand it to them. You can charge separately for this. If there is a time limitation for the show, ensure that you stop on time.

Wrapping Up

Always ensure that you are personally present for the wrapping up of equipment. Don’t put this duty on your employees as they may not check if everything is in place, before leaving for home late in the night. It is best to make a checklist of all the smallest to largest equipment and load them properly in their boxes before carrying it to your vehicle. Making a checklist will tell you immediately if a certain equipment is missing.

Promote Your Business

It is important that you take promotion of your business very seriously. Apart from meeting people who can get you more business, you must have a website or blog giving details about your business. This will allow customers to get in touch with you. Don’t forget to add pictures of the karaoke gigs you have hosted where people are enjoying themselves. You will have to get a written permission from your customers to display their images. You will also have to keep updating the latest schedule of your shows on your website so that people who want to visit can join you at the decided venue. Most of the younger crowd will get in touch with you through Internet, so ensure that you have posted ads on the Internet and websites that give information about the gigs, concerts, plays, etc. Get your website keyword optimized for reflecting in the top searches. Do not forget to connect with customers through social networking websites.

Slowly and steadily, you can recruit and train a good employee to become the host of your karaoke gigs, while you can look after the management of these gigs, collection of money, marketing, networking, and getting new business. Also, keep extra song books as people tend to steal some of them away. Make sure you have a professional approach all the time, and do not give a chance for people to complain. Remember that people may constantly force you to play their favorite songs and keep hogging the limelight. You will also have to learn to say ‘no’. Whatever you do, make sure that the people enjoy their karaoke time thoroughly, if you want to survive in this business.