Role Of Business Mentor Sydney

Business Mentor Sydney helps you make the right decision at different stages of your company’s growth. Making the right choice requires careful consideration. The new entity’s ability to expand, financial needs and level of risk have an impact on the choice of legal structure. If it is important for you to have sole or primary control of the business and its activities, a sole proprietorship or an other legal structure might be the best choice for you. You can negotiate such control in a partnership agreement as well.

A corporation is constructed to have a board of directors that makes the major decisions that guide the company. A single person can control a corporation, especially at its inception; but as it grows, so does the need to operate it as a board-directed entity. Even as a small corporation, the rules intended for larger organizations — such as keeping board-of-directors notes of every major decision that affects the company — still apply.

The choice of a name for your company is also a strategic decision. To choose correctly, it is vital to follow some important guidelines. It is not an easy decision mainly because a large majority of the terms that might interest you are already registered.

Why is it important to choose a good name?

The name of your company forms part of your corporate image. It is a communication element that will appear in many of the relationships you will establish with customers, suppliers, administrations, investors, banks and more. The difference between a good name and a bad name can shape the perception of these relationships. The impact of your name for your image is reinforced by the fact that it will be the first thing that third parties know about your company. This applies when they look for the product or service that you sell on the Internet.

The importance of the name varies according to the company. The name can be a fundamental element or have a minor relevance depending on your business. If you are a doctor and you have a private practice, you can give your clinic a nice name but probably patients visit by recommendation. The visits are unlikely to be inspired by the fact that they liked the name of the practice.

On the contrary, in all the businesses in which the purchase decision is not recommended by third parties or obliged by the circumstances, the name will be a much more decisive factor. This is the case of a restaurant in a leisure area with many competitors. Nothing is easier than calling things by their names. This is what the companies used to do, but the custom has been modified over time mainly because a descriptive name is usually long and sounds unappealing.

Leave a Reply

Your email address will not be published. Required fields are marked *