When establishing a new dental practice or business, your first task is choosing a name. While the obvious choice may seem to be naming it after yourself, especially if you're a solo practitioner, it's important to take a moment to reflect on Shakespeare's famous question: What's in a name?
There are advantages and disadvantages to naming your business after yourself, depending on your circumstances and goals for the business. Grace Rizza, founder and CEO of Identity Dental Marketing, suggests considering three key questions to help make that decision:
Do I plan on selling the business in the next five to ten years?
How do I want to expand, or do I want to expand at all?
What are my long term goals?
Naming your business after yourself can present challenges. If you intend to sell the business within a decade, it may be difficult to transition smoothly if your practice is named after you. Additionally, if you're thinking about bringing on partners or associates, having an eponymous business can lead to clients expecting to see you personally rather than accepting other capable team members.
Grace notes, "Opting for a self-named business could create roadblocks for future growth and communication, making expansion less seamless compared to using a different business name."
However, there are circumstances where naming your business after yourself makes sense. For example, if you plan to work independently for many years, your expertise is a significant selling point, you have a strong public presence in your community, or you want to build your personal brand as an influencer or content creator.
While there are no hard and fast rules for naming your business, it's important to remain open to suggestions from marketing experts. Being receptive to alternative perspectives can help you make an informed decision and set your business on the right path.
“I’m always going to tell you exactly what you need. It doesn’t mean you have to do all of it right away,” says Grace, a dental marketing advisor since 2009. “But just like when a patient comes to you and says, ‘I just want whitening,’ or, ‘I don’t need X-rays,’ you’re the expert. It’s your obligation to tell them where their opportunity lies for a healthier mouth. In the same way, it’s my obligation to tell you where the opportunity lies for a healthier business.” For an expert evaluation of your brand, website, or social media marketing, email Grace Rizza directly at grace@identitydental.com.