You're Now Motivated To Plan Your Business Concept As You Look At Business Name Ideas!

Why is it important to plan your business concept as you look at business name ideas?

"...The most intelligent man (or woman) living cannot succeed in accumulating money--nor in any other undertaking--without plans which are practical and workable..."
Napoleon Hill, "Think and Grow Rich", page 83

How do we undertake practical and workable plans?

One way to develop your plans is to develop your P.E.T. goals?

Most of us may think of a pet as an animal that we care for. Think of this P.E.T. as something else you care about. Think of this P.E.T. as your Passions, Experiences, and Trainings. Your P.E.T. concept defines who you are and who you may want to be. So what are your P.E.T.'s and how do they relate to your goals?

P stands for your Passions

Your passions are the things that excite you. When the going gets tough your passions keep you going when others may not continue. These are the things that you would do even if you wouldn't be paid to do it. Write down everything that you're passionate about.

E stands for your Experiences

Your experiences are the events that have made your life what it is. When you experience an event you gain confidence in knowing how to deal with the event in the future. Experience is a great teacher. Write down everything that you've experienced in your life.

T stands for your Trainings

Your trainings are the formal or informal instructions you've received to learn a new skill. When you receive training it opens up your mind to a world of new possibilities. You can apply yourself to these possibilities because of the education you received. Write down all the different things you've learned in a training environment.

2. What are your E's?

3. What are your T's?

Now develop a P.E.T. seed word(s) concept and a P.E.T. summary.

-An example P could be that you are very passionate about technology. You love to work with technology and use it to help people communicate. -An example E could be that you've experienced a job for 20+ years in multiple businesses helping people to use technology in different work environments. -An example T could be that you've received undergraduate and graduate education in business with a technology focus. You've also received a lot of informal company sponsored training on the use of software for a particular business need.

So you could call the P.E.T. seed word technology.

Your P.E.T. Summary for technology could be something like the following:

"A Business Operations Professional with leadership experience in systems implementation, process improvement, logistics and supply management. Proven ability to develop and implement business software solutions in a cost conscious environment. Able to clarify issues, educate users and facilitate decision making in complex situations while maintaining excellent customer service. Results oriented problem solver who enjoys inspiring teams to effectively use technology solutions."

Think of each P.E.T. summary as the summary on your resume of life.

2. What are each of your P.E.T. summaries?

Goals

Now that you have one or more P.E.T. summaries and words it's time to develop your goals. Goals bring direction to your business vision. There are 3 types of goals: Short term, Medium Term, and Long Term.

Short Term (ST)goals could be 1 day, 1 week, 1 month, 3 months (quarter), 6 months, or 1 year.

Medium Term (MT) goals could be 1 week, 1 month, 3 months, 6 months, a year, or 5 years.

Long Term (LT) goals could be 1 month, 3 months, 6 months, 1 year, 5 years, or 10 years.

Define the length of time for your ST, MT, and LT goals. Make sure the LT goal is longer than the MT goal which is longer then the ST goal. As an example your ST goal may be 1 day, your MT goal may be 1 week, and your LT goal may be 1 month.

Now it's time to define your ST, MT, and LT goals. It's important that those goals are measureable and clearly defined with a time frame for completion. ST goals should be fairly easy to attain, MT goals a little harder to attain, and LT goals should be very challenging but possible to attain.

Sample goals might be the following:

P.E.T. ST goal-->I will commit 2 hours a day Mondays thru Fridays to read, research, and develop my P.E.T. concepts into a plan for a web site.

P.E.T. MT goal-->I will commit 2 hours a week minimum to communicate with other business owners to develop my PET ideas into a web site.

P.E.T. LT goal-->I will commit 2 hours a day to create a minimum of 30 high quality web pages related to my P.E.T. ideas for my web site. This goal is to be completed within 30 days by __________

Review each of your goals at a specified time such as weekly. Refine them as needed. Review them to see if they are completed in the time frame or if they need to be adjusted if they are ongoing. Add new goals as you complete the old goals.

2. What are your MT Goals?

3. What are your LT Goals?

"There's so much riding on a company's name. It has to stand out, and be easy to remember and look up."
Suzanne Barlyn, "Running The Show, Name That Firm", The Wall Street Journal, Monday, March 17, 2008, page R7

Any potential business name ideas? How can you find out if there is any interest or demand for one of those great business name ideas? The internet is the tool for you!

"...The only way to become wealthy is to add more value to other people's lives than anyone else is doing. It is the only way..."
Tony Robbins

Think of any business name ideas as a foundation of high quality content or information that you provide for your customers. That is why your business name idea is part of your P.E.T. concept. It defines who you are and provides value to your customer. First you must provide high quality, credible information to your customer as a consultant in a Win/Win for you and the customer. Your customer will invest in your solution only when they believe that you will help them satisfy their need that your solution provides.

Now it's time to find out how valuable your P.E.T. concept is as a business idea. Google Adwords is a great free tool to see the value of your idea. Do the following steps:

Go to Google Adwords but use the instructions that follow:

1. Enter your P.E.T. (Site Concept Seed Word) into the box.
2. Uncheck “Use Synonyms".
3. Enter the characters displayed in the picture.
4. Select Get Keyword Ideas.
5. Advertiser Competition(AC) is the supply of your concept.
6. Average Search Volume(ASV) is the demand for the concept.
7. Click the blue AC and ASV wording to sort by AC and ASV.
8. You want LOW AC AND HIGH ASV blocks.
8. Click the add button for good keywords that have both low AC and high ASV.
9. When all keywords are added click .csv to download these words to a file on your desktop.
10. Repeat these steps for other P.E.T. Site Concepts for other business name ideas.

Record all your business name ideas.

Interested in some training to help you develop your business name ideas?

The following link was a live taping of an hour-long national training webinar. The webinar starts off with an audio introduction. Then it transitions to a Powerpoint and internet presentation for developing your concept into a business. Network Marketing, Site Build It, and the Works Team are concepts that are also discussed in the webinar. More detail about these concepts can be found on the Build-A-New-Business web site. You may need to turn up your volume as you listen to the webinar.

The title of the webinar is "Discovering Your Niche & Using Keyword Tools".

Click this link to replay the webinar

You can also download the powerpoint document used in the presentation. All links except the SBI link are accessible for your use.

Right-click to download the powerpoint file here.

Have one or more business name ideas? Let's develop a logo for at least one of those business name ideas!

"People themselves are brands with their own distinct qualities and skills."
Peter Montoya, president Peter Montoya LLC
Suzanne Barlyn, "Running The Show, Name That Firm", The Wall Street Journal, Monday, March 17, 2008, page R7

Ready to continue to the next step on your journey?

Are you ready to define your type of business?...

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