If you take a look at the Internet startup arena, you’ll find that there are a lot of “founders” of various companies, even if they happen to be companies of one. They all want to have some “hip” name that will hopefully be as catchy as a Facebook, a Twitter, or an Instagram. But should the same mentality apply when it comes to freelancers and other solopreneurs?
Does it make sense to use your real name as your company brand name or is it smarter to create a separate company name altogether? As with so many other questions related to doing business, there are arguments for both sides of the equation.
“I’m the Founder of XYZ Media”
Some people will tell you that if you want to be taken seriously as a freelancer, you need to have a company name. Instead of saying that you are a “freelance writer” or a “professional designer” (and you operate under your own personal name), they say that it’s better to say that you’re part of XYZ Media or ABC Designs. There’s an air of legitimacy there, regardless of the actual size of the company.
But that’s not to say that a separate brand name is really required. Yes, it may help to indicate that your coding, consulting, or editing isn’t just a hobby, but the way that you interact with your clients and present what you have to offer can be much more powerful. And, seeing how you really are offering your expertise and talent as primary selling points, it almost makes more sense to direct that strength right back at your name.
The Ralph Lauren Phenomenon?
And that’s how we find ourselves with familiar brand names like Calvin Klein and Ralph Lauren, as shown above, as well as other sought after experts in their respective fields like Martin Scorsese and John Grisham. Their names are their brands, even if they may own separate companies with separate names. Scorsese works mostly on a project basis, not unlike your typical freelancer. He just happens to make a lot more money doing what he does.
One of the biggest advantages to having a brand name that is separate from your own name is that it provides a much easier exit strategy. You can much more easily sell “XYZ Media” and have a seamless transition, compared to trying to sell “John Grisham” and authoring a new book in his name.
A Rose By Any Other Name…
At the end of the day, brand names still matter, but it really is a matter of circumstance and personal preference. Both freelancers who operate under their own names and those who have a separate company name have the opportunity to thrive. There are so many factors other than just a name that determine a freelancer’s success.
Having both is fine. The company brand makes you look bigger, but the personal name brand gives you more personal comfort with a client.
It depends what you are looking for and the client.