Recently, I decided to change my company name from "Organized Alaina" to "The Organized Money" AKA TOM and many people have asked what was the reason for the change.
Although I spoke about it briefly in my How I Stay Organized video, I wanted to share my 3 reasons on why I decided to change the name of my business and what you can expect from TOM in the future.
1.) Google was once called Backrub.WHAT?!
One of the main reasons I decided to change the name of my company was because I wanted people to gain a general understanding of how my business could assist them just by hearing the name.
Could you imagine searching for anything on a website called "Backrub"?! Me either. I don't believe that Google would have the brand recognition or success without having made the decision to change their name.
I wanted to make sure that people understood that The Organized Money was a platform that discussed life and money systems. The YouTube channel, blog, online courses and workshops are all about helping people get their life and money organized. I thought "Organized Alaina" was a vague, personal, and didn't explicitly inform people of the goal.
2.) ALAINA, How do you spell that?
The second reason I decided to change the name of the company is because of the spelling of my name. The problem with having a name like Alaina is there are many different ways to spell it.
If you have a company name that is spelled creatively (examples: Flickr, Kandy, Takkle), you will forever have to spell it when you say because it isn't spelled how people hear it. After, having to spell my name out loud for the thousandth time and apologizing for it, over and over again, I decided it was time to make a change.
Resist the urge of being too creative with your name, misspelling, or inventing a new word that sounds unnatural. Mashing two words together or mixing up a bunch of letters to form a new word rarely works out well.
3.) Is it just about YOU?!
The third reason I decided to change the name of my business is because it's not just about me. Is your company just going to be a one-person operation for the rest of your business life or do you intend to have a team working with you or envision the company continuing long after you retire?
I knew I wanted The Organized Money to be bigger than just me. Guest bloggers, vloggers, workshops, teachers, etc. would assist me as we build this brand. There are many things that I have planned in the future and I wanted to ensure that my team would know that this company is about them too.
P.S. If your company is constrained by your name....
Don't put off making the change. Remember, fear is simply a negative expectation of a future event. Communicate to your clients and let them know why you have made the decision. Most clients will truly appreciate your transparency and honesty.
A new name may also be the strategic change that can unlock new potential for you and your company. There's so much that goes into a name change - and for all the work you do coming up with the new name, you'll do twice as much work implementing the change. Rebranding to The Organized Money has been a pretty smooth transition, but I certainly had to deal with a few speed bumps along the way.
Overall, this was definitely one of the best business decisions I could have made and I wouldn't change my experience for anything.