A good name is necessary for any type of business that desires high levels of success. Building a name and building a brand are one in the same. Multipreneuring allows us to extend the reach of our business by attracting larger numbers of people. The goal here is numbers in other words lots of exposure. In this process there will be a sorting process determining who you want to work with and who you dont. Multipreneuring provides you a more controlled opportunity to exercise this choice.
As this is decided upon the building of the name begins as you narrow down your market. The value of your business is your effectiveness in establishing a name. The traditional approach is to spend money before the reputation is built. In the multipreneur process money is spent only to refine the name. Rather than trying to attract a market we create one by customizing to the generic list we have built.
There are four steps in the process of building a name through multipreneuring:
1. Awareness: A large group must know you exist. This needs to happen quickly and actions should be taken early while the list is responsive. Get the word out , advertise, make offers. Use free methods only articles, classifieds,links, forums etc.
2. Build Quality. Promote benefits and cater to wants of the general market. Your name will be built as you exceed general wants by over delivering and specializing later. As you meet promises credibility is established. A perceived level of quality and value creates demand for your business. The market will be willing to pay for your product or service.
Name Association. Becoming memorable is important. Some people will know your company by recall automatically and some will recognize the company the name when they read it or hear it. This is determined by the level people connect with the name. Building a name requires connection. This can be accomplished through a message or visual logo. A catchy slogan or attention-getting symbol can create an identity that pays huge dividends in name recognition.
Loyalty. Retaining customers and the number of repeat customers is a sign that a name is being built. By satisfying the needs of a customer it establishes trust, relationship and value in the hearts and minds of your customer. As market increases and changes occur people will do business with you because they have had a good experience in the past.
