What's in a Name?
My mom used to tell me that you are nothing if you don’t have a “good name.”
“A rose by any other name would smell as sweet” as quoted in William Shakespeare’s play Romeo and Juliet, in which Juliet argues that the names of things do not matter, only what things “are.”
This year, more than 120 million babies will be born on earth. The giving and receiving of a name is an event of major importance. As a society, we are consumers of names and as Juliet implies; the worth behind the name.
Taking into account your personal brand tied to your first and last name (where others determine if you are a person of character and competence) as well as your company’s name, we must take note of how corporate personality is perceived by customers. In order for customers (or employers, neighbors, co-workers) to buy your name, you have to acknowledge that your reputation is emerging as the primary driver of value; not your products, parents, price, or location.
You control your own destiny. Your name follows you from place to place, whether that name is associated with a bad reputation or good reputation. Warren Buffett once said that “it takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
How true! A wise proverb says that a good name is more desirable than great riches because it will produce lasting wealth, whether that is monetary, in relationships, quality of life, etc.