Business Name - How To Pick One From A Legal Perspective

A business name can be a huge factor in the ultimate success or failure of the entity. Unfortunately, many people fail to give a lot of thought to it prior to moving forward. There are many factors to consider including something memorable, a name related to your area of work and, potentially, the availability of the domain name.

Married?

Picking a business name is like getting married. You are going to have to stick with it till the bitter end. It is estimated a prospect will need to see your advertisement and business name at least 22 times prior to doing business with you. Once they associate your business with a certain name, making a change will be disastrous. Once you pick something, stick with it.

Naming Your Business

If you are going to be married to your business name, you need to make sure the bride isn't already married to another suitor. There are four significant issues to consider.

Initially, you must determine whether the name is already being used in your state. The Secretary of State controls the names of all corporations, LLCs and partnerships. Most also have a web site where you can conduct name searches. Even if you are a sole proprietor, you should check the name against those already registered in the state database. If the name is being used, you will need to consider an alternative.

Assuming the name passed must with the Secretary of State, you should check it against existing trademarks file with the Patent and Trademark Office. The "PTO" maintains an online database. As with the Secretary of State, you can conduct an online search to make sure no other business is using it.

In this day and age, many businesses incorporate a web site as part of their business model. If you are in this boat, you need to check to see if the business name is available as a domain. If it is, you should register it immediately. If not, you can either change your business name again or focus on a domain name incorporating your service or product instead of the business name.

Avoiding Problems

You business could be devastated if you do not take these precautionary steps. Imagine the negative impact on your business if the name has to be changed three years down the line. Take a breath before you select a business name. Like a spouse, it can be either a good or bad choice. 

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How to Build A Successful Business?

Starting a business and becoming successful is often part of the American Dream. But there is a difference between starting a business and building a successful business. Many businesses fail within the first few years of existence due to the lack of planning for the long-term. There is not enough vision and there is not enough done to strengthen the business properly from the ground up.

If you want to start a business there is an easy way to get a better understanding of why some businesses fail and others don't. When starting a business think about it similar to building a house. If done right it is protecting you against any kind of storm or danger of the outside world and will last for a long time. It offers shelter and protection. For you and your business that could be translated to that you want to have a business that is able to weather economical ups and downs (=storm) and that will provide income to pay the bills (shelter and protection).

When building a house there are several different steps you need to follow to have the house build. You know you want a house, but you got to pick a location and get an architect to plan everything out. In the business world that would be: you know you want to start a business, but you have to come up with a business idea and work out a business plan. The next thing for the house would be to build the foundation (and eventually the basement) for the house. In the business world - you got to build the initial infrastructure (example: connecting with vendors, find a manufacturer for your product, create a sales team, rent office space, get a delivery truck, etc.). Once that is in place you able to actually do business and earn some money. But you are not completely done yet. You need to build a frame, put in windows and you also need a roof on house. For your business this means that you pay off debt, improve business processes and get professional help when needed (example: find a tax accountant, select a payroll service, etc.)

Once the house is build you probably want to fill it with furniture and make it livable for the future. Nobody wants to sleep on the floor, right. Again translating this to the business world it could mean that you invest money you earned back into your business. You buy machinery instead of leasing it. Eventually you buy a building, hire more staff, develop more products, move into new markets, build up a high cash reserve, and buy other businesses and so forth. This is often the step where winners and losers separate. Re-investing money into the business is a key factor for success. If you go and spend all the money on your own salary to buy things you have nothing to go back to when the economy slips into a recession or if disaster strikes.

The successful business owner has build up a cash reserve or can borrow money from bank – securing loans with the assets of the business. Going back to building a house this pretty much matches the same efforts. You pay off your mortgage and have equity available to eventually borrow against when emergency arises. Emergencies do not include paying off credit cards to use them again or to buy a car. Financially responsible you should be looking at the long term and not finance short-term goods with long-term debt. 

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12 Things Nursing Taught Me About Owning a Business

Have you ever wondered whether you're cut out to be an entrepreneur? Nurses sometimes tell me they aren't sure if their nursing career has prepared them to start and succeed in their own legal nurse consultant practice. Yet even the most routine nursing job is full of life lessons that apply to the business world.

My first job as an intensive care nurse in a major medical center prepared me for business success. Subsequent jobs reinforced those early messages. I invite you to look closely at your own nursing career and discover the lessons that will help you succeed as a legal nurse consultant.

Success Lesson 1 - Find Your Passion and Turn It into a Business
As much as I loved my work with critically ill patients and their families, my inner voice told me I wouldn't be working in a hospital forever. As a young nurse, the vision of myself working in the ICU at age 40, 50 or 60 just wouldn't come into focus.

With only 6 years of nursing experience, I left the hospital and started my legal nurse consultant business. From there, I listened to my inner voice and reconnected with my first passion teaching. At age 8, I spent hours every day teaching an imaginary class. Today I am privileged to teach, coach and mentor nurses to live their career dreams. I turned my passion into a business, and since then I haven't worked a single day.

Listen to your inner voice, and you will find your passion. Many nurses have reconnected to their passion through legal nurse consulting, a choice unknown to them before they took my program.

Success Lesson 2 – You Have the Power to Take Control of Your Career Destiny

Patients heal faster when they take control of their health and practice healthy habits. Even the smallest positive action can give a patient a sense of control and empower the healing process.

I learned this lesson time and again as I struggled to gain control of my own nursing career. Each time I refused to give in to the frustrations of working within the healthcare system and took a positive step on my own, I felt better. With every step I grew, I thrived and I came up with new ideas to further my sense of control and satisfaction.

The same is true about your career. You have the power to practice the healthy habits essential to take control of your career destiny. Educate yourself about the steps to achieving career health, including new career options like legal nurse consulting. Then take action on those steps. You really can take control of your career destiny.

Success Lesson 3 – Don't Give in to Fear

As a nurse, I frequently treated patients who had the same progressive disease, yet experienced dramatically different outcomes. We all have known patients who lived years after their predicted demise and other patients who should have lived but didn't because they gave up or didn't want to live. The fact that so many elderly patients die within months of losing a spouse is a solid example of the mind-body connection. In almost every case, the patients who died too soon had given in to fear.

There's also a mind-business connection that will influence the health of your business. When I give in to fear, I become the biggest obstacle to my success. That was true when I started my business 19 years ago. That is true today.

Fear will paralyze you instantly. Practice mind control and exercise your mind daily for positive thinking. Shake off your lack of confidence and negative thinking. Don't wait for an MI to stop inhaling the toxic smoke of fear. Don't let fear be the reason you don't live your career dreams. Always remember the mind-set of the patients who live and the patients who die.

Success Lesson 4 – Nurses Can Do Anything

As nurses most of us have brought patients back to life. We all can recall at least one miracle story a case where, with our help, a patient survived against all odds.

Whenever I face a business crisis, I remind myself, "I'm a nurse and nurses can do anything." I've repeated this same message for 19 years, and it has helped me overcome every obstacle.

If you can heal sick patients and handle life-threatening emergencies as easily as you make your bed in the morning, you really can do anything – especially something as straightforward as starting a business.

Success Lesson 5 – You Can't Climb Mount Everest without Practicing on the Foothills

I had to have extensive education and training just to qualify for my first nursing job. All the lessons from that job helped prepare me for the next. Each successive nursing position required new and different skills necessitating more training and education.

The same applies to owning a business. Today I handle things easily and successfully that seemed impossible 19 years ago. But that's because I've been in training for what I do now ever since I became a nurse.

If you're frustrated with your nursing career, don't feel like you've thrown your life away. No experience or job is a waste. Everything you have done has trained you to move up to the next level. Above all, don't let the fact that you're not trained to climb Mount Everest stop you from pursuing your dreams of becoming an independent legal nurse consultant. Your nursing training and experience was the first step. Start the next step of your training today, and you will make that climb to start your successful legal nurse consultant business.

Success Lesson 6 – The Nursing Process Is Your Friend

When I left clinical nursing, I thought I could set aside the "nursing process" forever. I couldn't have been more wrong. Business requires that same process of assessment, diagnosis, planning, implementation and evaluation. Every project I take on requires me to assess the possibilities and needs, diagnose the problems, plan how to achieve my goals, implement the plan and evaluate my results.

Your nursing jobs have prepared you well. You can apply the nursing process to any business situation and challenge. You will thank your nursing instructors for this one. Every time you review a medical-related case, interview with an attorney or face a challenge in running your business, you will rely on the process they taught you.

Success Lesson 7 – Act Quickly and Decisively

As an ICU nurse, I learned that seconds made a difference in patient outcome. That's true for nurses in any specialty. I rarely had lots of time to ponder or brood over a clinical decision.

I have applied the same principles of acting quickly and decisively in business, too. Am I always correct? No. Do I make mistakes? Yes. Yet because of my nursing experience, I'm never paralyzed into inaction and I've been able to make the most of numerous opportunities I would have missed without acting quickly.

Don't miss your chance to succeed. Learn to act quickly and decisively, and you will grow your legal nurse consultant business.

Success Lesson 8 – What You Focus on Is Where You Achieve Results

In nursing I was often overwhelmed by short staffing, heavy caseloads and lack of support from hospital administration. I soon learned to triage and focus on what I needed to do to heal patients in this less-than-ideal environment. Nursing taught me that where I focus my time is where I achieve results.

That skill comes in handy in business. It's as important to triage and prioritize your actions in business as it is when working with patients. Every day I'm confronted with dozens of challenges, five things that must be done at once, and 20 new creative ideas for my business, but I rarely panic. The organizational and multi-tasking skills I learned as a nurse have served me well.

When you start your legal nurse consultant business, you will not receive any extra hours in the day. In fact, the days will feel shorter. Even the general public knows that working conditions for RNs are worse than ever. Your ability to focus on what's really important under these conditions is the perfect preparation for your successful legal nurse consultant practice.

Success Lesson 9 – This Is Just Business, It's Not Breast Cancer

Ministering to patients and family members helped me put life with all its problems and challenges into perspective. Today when I overreact to a problem or feel I'm in crisis, I think of sick and dying patients. I think, "Now fighting for your life is a REAL problem."

In business I've had lots of ups and downs. When the down moments come, I remind myself, "This is business – not breast cancer." This helps me focus positively on solving the problem rather than embarking on a pity party. I've thrown plenty of those "parties", and they never helped me solve a single business problem.

As you grow your legal nurse consultant business, it helps to ask "So what if this month is not as successful as I planned?" or "So what if my best attorney-client retires?" and to remember its just business, not breast cancer.

Success Lesson 10 – Illness Can Wake You Up

As a nurse I treated many patients who only began to live after they almost died. We've all had patients who said they are glad they got sick, because while they were well, they weren't living the life they wanted. The health crisis forced them to wake up, reassess their lives, decide what was truly important to them, and go for it.

Not every day is a healthy business day. Some days I wake up to a disease challenge in my business. Surprisingly, it's the business ills and mistakes that often awaken me to creative ways of injecting my business with new life.

If your career is facing a health crisis, this is your opportunity to wake up and change things for the better. Legal nurse consulting is one way to restore the health of your career.

Success Lesson 11 – Business Is Personal

Even though technical skills are vital for an ICU nurse, the relationships with patients and their families were what mattered most to me. Those relationships paid off one day when I made a mistake. Because of our relationship, the patient requested that I continue being his nurse despite my error.

Legal nurse consulting is a service business where you will apply the same relationship principles you learned in nursing to your attorney-clients and prospects. Provide quality service and excellent work product that no other legal nurse consultant can replicate, and soon you'll feel like you're in a short-staffing situation all over again.

Success Lesson 12 – Healthy Patients Take Care of Themselves

We've all worked with healthy and unhealthy patients and we've seen the effects of poor health habits on the human body. The health of a pregnant woman is often dramatically reflected in the health of her offspring.

To run a successful company you must enjoy an optimal state of health. Give yourself permission to take care of yourself. I love my business, but I love myself more. After all, without a healthy me, I couldn't muster the energy to give 110% to my clients and employees every day.

Every lesson I learned from nursing, I apply to my business today. You've already learned similar lessons yourself. You don't need another hospital job to help you succeed in business. Take a moment to revel in all nursing has taught you. These lessons will multiply your success when you transfer them to your new legal nurse consulting practice. 



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