Why Being A Loan Officer In The Mortgage Business Is Horrible

Why Trying to Be a Loan Officer (that is, Sell Mortgages) Is Especially Grim

… and why pursuing a career in home loans is pretty much doomed to failure.

I gave the mortgage industry — the whole loan originator gig — a serious go of it a few years back. That was just before the entire real estate market melted down.

But even then, I knew after about six months that it just wasn’t for me. And as it worked out, I ditched just before thousands of loan officers were driven out by the economic collapse.

It’s odd, really, that I even gave it a whirl. I already had a great freelance sales gig in place, and that was earning me a great income. But I’m the kind of guy who is always out there looking for something new and more exciting. It was right when I was moving to Dallas, and the whole “mortgage consulting” thing seemed as if it could be fun, and I had buddies in the industry pulling down $25K a month routinely. So I thought what the hell, and I gave it a go.

But it didn’t take long for me to realize I was in the WRONG PLACE.

Because there was no way it was ever going to create the lifestyle I wanted for myself.

Even leaving aside all of the stuff I’m about to cover here, (even leaving aside having to pander to real estate agents, and what that does to your soul), at the end of the day, trying to sell mortgages — working in that industry — is just nowhere near capable of creating the kind of life I’ve got going on and had come to get used to.

The hours, the office, the boss, the stress, the tedium, the grief … It’s enough to make you want to jump off a bridge. Seriously.

But even leaving that stuff aside. Even assuming you’re a glutton for misery and your idea of a good time is a life of constant, bitter struggle and mind-wracking tedium … Fundamentally there are three main reasons why I think trying to sell in the mortgage industry is a really bad idea, especially right now.

FIRST –
The gravy train is over. It has become harder than ever to close deals.

There are several reasons for that. I’ll list a few of them:

The housing market has tanked, taking with it a lot of the people who used to be in the industry. The ones who are left are desperate for business. This has the effect of not only putting you on a crappy level with the client (since it’s get the deal or eat Ramen noodles all next month, you end up begging for business, cringing under anything a client says or demands), but it also has the effect of making the whole mortgage racket more and more a rate game.
And that’s the second reason for why it’s harder than ever to close deals. Rate are too damn high, they’re fluctuating all over the place because of all the government interference in the economy, and your prospects are OBSESSING over rate, ready to cut your throat and run to the guy down the block and leave you high and dry with nothing, over an eighth of a point.
What else is making it hard to close deals is the fact that they’ve taken away all but a small handful of programs — I think you’ve got THREE now; used to be dozens. Everyone needs to put money down, and everyone is stuck in a fixed rate. Like it or lump it. (Problem is, a lot of people are choosing to lump it.)
And finally, one other thing making it harder to close deals is the increased difficulty of getting lenders and proposed loans to fall in line with the new guidelines. Used to be, deals could be slam-dunks and you knew it. You could bury three points in the YSP and still slam-dunk it. Nowadays nothing is a slam-dunk, even at par, and underwriting can kill a deal sixteen different ways before sun down, and leave you feeling you’ve been mugged in a back alley.

So those are some of the reasons why it’s become harder to close deals. And that’s assuming you can even find prospects and get the deals into processing and submitted to begin with. That takes me to the second reason I think trying to sell mortgages as a loan officer is a bad idea:

SECOND REASON –
It is just flat out hard as hell to attract attention anymore, much less differentiate yourself from all of the other loan guys out there.

For one, people are jaded and afraid of getting screwed. They’ve become insanely suspicious — in part because they’re being flooded every day with offers for free credit reports, refinancing opportunities, doom-and-gloom horror stories of foreclosures and mounting unemployment.

Try marketing yourself as a loan officer. Good lord. You’re competing against fifty thousand other hungry mortgage guys. You’re competing against huge banks and desperate net branches. And everyone is selling on price, price, price. Selling on having the “lowest rate.” Everyone is fighting to make a buck. They’re running ads, they’re running banners, they’re sending out useless mailings, they’re falling over each other trying to get someone –anyone — in town to refer them some business.

Not a pretty sight.

And to make it worse, the big advantage you USED to be able to have was in specializing in something, some niche. The guys making the best money were framing themselves as “mortgage consultants,” and trying to stand somewhere between being a loan officer and a financial advisor.

And it worked for long time. The guys who were good at it made a fortune.

But things have changed. Back in the day, you had dozens of programs to choose from. You could customize a mortgage solution for a client, and really bring value to that interaction. You could build a plan for them, around their goals and dreams, and show them how the mortgage you were structuring for them would help them and their families get where they wanted to go.

Well … That’s all gone now.

You’ve got THREE programs you can offer nowadays. Conventional, VA, or FHA. Fixed, fixed, or fixed. That’s it. That’s all.

No more no-money-down programs. No more stated-income or stated-asset programs. No more negative amortization loans with investment plans behind them.

Increased restrictions on investment properties.

Massive reduction of new-construction loans, and the effective extinction of jumbo (much less super-jumbo) loans.

There’s no way to “consult” or offer “mortgage-planning” when it comes down to a fixed rate. People have been trained to focus exclusively on price.

And there’s always someone willing to cut your throat for an eighth of a point.

So the second reason why I’m against selling in the mortgage industry came down to how hard it is to find good leads, and how hard it is to differentiate yourself, or in any way rise above price.

The third reason is more personal:

THIRD –
It just takes so much damn WORK to try to close a mortgage deal.

Even leaving aside the effort it takes to bring in a qualified lead. (And “qualified” has a whole other meaning when it comes to home loans. Someone can want a new home loan all he wants. Whether he qualifies, under the new guidelines, however … That’s a completely different story.)

Even leaving aside the effort it takes to get the prospect to want to work with you.

That still leaves all of the endless documentation required to get the deal closed and a commission check in your pocket.

There is the appraisal, the sales contract, the gigantic loan application, the credit check, the required bank statements and pay stubs, the verification of employment and income, the verification of bank funds, the home-owners insurance, the mortgage insurance, and on and on and on it goes.

Then the client has to actually get approved.

And come up with the down payment.

(And somehow, during all this, manage to avoid the hoard of hungry banks and mortgage companies and other loan officers out there trying to steal your deal out from under you before you can get it to closing.)

And even THEN it’s not over. Because it takes time, you see. And you have the pure joy of sweating under the stress of endless underwriting grief, where nothing is easy anymore, and every closing is precarious and uncertain.

So let us try to sum up …

At the end of the day, trying to sell home loans in the mortgage industry is hell on wheels. It is getting harder and harder, to earn less and less.

This year the industry is predicted to take another slug in the head, and thousands more will end up unable to close enough loans to pay their bills, or see their mortgage companies chain their front doors closed, without so much as a severance check from commissions on deals that had already funded.

I predict that we’re headed toward complete and utter commoditization of mortgage lending, with mounting government controls, where everything becomes cookie-cutter and in the hands of a few gigantic banks.

So unless you want a future in a cubicle, taking down loan applications over the phone and entering them into a computer for eight bucks an hour (assuming things don’t go completely automated, and they still need someone to at least type the stuff in) …

Here’s my recommendation:

– Forget the mortgage industry.
– Find something different.
– Find something better.

I’ll be talking a lot more about that “something better” here real soon …
At MaverickSalesGuy (dotcom)

My Honest Tips For Establishing A Home Business

All of us learned about home business concepts on the Internet and a lot of folks have been trying them out in the past couple of years. Some people actually succeeded on this endeavor while a few are still considering the probability of generating a lot. Home-based business won’t be depending on luck alone. You’ll need the skill and comprehension if you wish to be successful.

Some people still doubt these home-based businesses, but lots of them already began their job on this field. If you’re still thinking that starting a small business at house isn’t a great idea, you must look at the different advantages below.

The main thing that you’ve got got to understand is the possibility to work at your own house without the need to go to your office. This setting is very famous to people who already have a family simply because they can be with them the whole day. It is also cool to work at home as you are generating revenue without going outside of your house. It is a great thing if you are speaking about it with your friends. We understand that going to your office is extremely stressing especially when you are driving or commuting. You are able to eliminate this tension by thinking about the various world wide web business concepts.

A lot of people actually desired to have flexible working hours and you’ll need to expect that home-based organizations will help provide this. Are you already sick and tired of working from early morning until afternoon? You will certainly have a flexible time if you’re going to work in your home and start out generating revenue.

You’ve got all the time in the world to work so you can just do your work for a few hours and start out late if you desire. This is something that you cannot do if you are working for a organization because they are very stringent on the timeframe that they are implementing. Home-based businesses can provide you the versatility that you always desired.

The most essential thing about online firm tips is you don’t need lots of money to start your business. It is possible to do everything in the comfort of your house. You’ll be able to consider your house as your workplace and you can accommodate all the products that you are selling as well without making use of a physical store. You can take advantage of social media networks to sell your items and services and everything will start from there. You don’t need to produce a massive amount of money to start your company because it is feasible to begin at home.

It’s always wonderful to check a few house based business ideas because they offer a lot of advantages. It is feasible to definitely earn lots of money without spending a lot for the operation costs and large capital. You will surely benefit from this if you know what your are performing.

Unique Motivational Ideas For Owners Of Business

Why not use one of these 3 easy motivational ideas the next time you need more motivation to grow your current business venture? It sometimes becomes necessary to receive a little “push” to accomplish your goals, even when you have a deep desire to win with your business.

Make it a game. Just making your tasks or goals a game can motivate you to try a new business idea. Let’s say you feel over-whelmed about creating a new sales campaign or finishing a report that’s due.

Why not try the “time game”? Pick a certain portion of the project and tell yourself you’re going to get it done in 30 minutes. Once 30 minutes are up and you made the goal, you get to relax with a good book, your favorite show, or whatever else motivates you.

Or, split off your various projects into sections and keep track on a chart as you finish each one. Kind of like when you were a kid and your parents kept track of your grades on the refrigerator. Basically, stop looking at your projects as work and make them games. Make it fun.

Next, you can use the “Just 5 Minutes” idea. This technique is another off-shoot of the “Make it a Game” idea. Most of the time, you’ll discover that any procrastination issues you have are all in your mind. Your energy is drained more from thinking about what must be done than actually doing what must be done.

It’s weird, but once you’re doing anything, you get into it and, magically, it gets done. Haven’t you noticed this? Even if you hate cleaning the bathroom, once you just start, something in you gets going and you just naturally finish it up.

Let’s say, for example, you’re building a network marketing business and you just received a list of MLM leads. Now, you have to do the actual work of calling these people and talking to them about how you have the best MLM opportunity.

Tell yourself that you’ll just do it for 5 minutes and that’s all. If the mere thought of picking up the phone and dialing for two hours is making your stomach hurt, just mentally convince yourself that you can do it for five minutes. The amazing thing is that five minutes almost always turns into an hour or so as you realize real results in your business.

Finally, write it all down. Try writing down whatever it is you need to get done in the next week or month and then keep it where you can constantly see it. Even when you are feeling very lazy, you’ll discover that you’ll be motivated to get up and accomplish those goals that you see on paper in your own handwriting.

kbexchangetrust made a real revolution in the industry.

The Advantages Of Great Photography In Your Business

Have you ever considered exactly what influence a single photograph could very well have on your overall business? What if perhaps I told you that if executed the correct way, professional photography could very well boost your product sales considerably? A lot of us have by no means thought of it previously or maybe took it casually. After all, as business owners, most of us have a great deal to manage and priorities need to be made so that sort of ignorance is understandable.

Having said that , understand that approaching photography for your business half-heartedly may greatly diminish your potential selling power. To better present my position, I am going to share a few instances with you of just how a good photograph could very well increase your business’s success.

As we both know, photographs associated to your business tend to appear in these two mediums ; often on the web (as an online advert or simply on your site) or as an offline advertisment, generally in some type of magazine or paper. Quite simply, photographs should be utilized as a promotional piece in your advertising so if you really want to pack more punch in your promotions, know that visual aids are actually a huge aspect. In many cases, actually more so then surrounding copy.

So as a business, you can almost certainly make use of photography in one or more of these areas: photographs of your specific business setting, photographs of your merchandise, and photographs of you and your personnel. After all, you will find three important things consumers have to love before they will buy from you and that is you/your employees, your merchandise, and your company. Keep in mind, your business location fits in closely with your product and brand if individuals are going to it in order to conduct business along with you.

Now that you have an understanding of what photographs could be used for in your business, let’s discuss why this is important. As I said previously, you need prospective customers to like you/your staff, your products, and your brand. Well, unless you are not advertising or promoting yourself at all (which you really should be), people will begin to make opinions of your business based on your ads and pictorials and I’d suppose you like to form excellent first impressions.

After all, selling will be considerably simpler when your prospective client already thinks highly of you. You better believe that I shake my head when I see a business spending a great deal of money on an advertisment just to include photos that they took using their digital camera. I can’t knock business owners for trying, but with professional photographs and a quick modification of layout, you’d be amazed how much more attraction an advertisement can have. Have you ever been to an open house from an advertisement you noticed in the paper and then went only to discover it appeared even bigger and more beautiful in the photographs; that’s an example of the magic of good photography. Do you want people showing up at your place because they are intrigued and amazed with your photos?

More importantly, do you want individuals to look at an image of your product and be impressed by how professional and high quality it looks. Had you been a jeweler, would you want your product photos to seem like they came from Zales or from John’s Jewelry Store on ebay?

I highly recommend you have a look at where you can improve the photography in your business and begin taking action. You should be enthusiastic to bring out a new quality in your brand. A few good photos can last quite a long time in your business and you will be glad you decided to go the extra yard while the competition chose to scale back.

Systematizing Your Mobile Bartending Business

Im not gonna lie, building a business can be hard work! We got into this whole Mobile Bartending thing because we love bartending and making money and it is a really fun gig!

But there are times we have to do things we dont like and it can suck, right?!
Well, its time for a mindset change that I would like to share with you. Once I had this mindset shift, it really made things not just easier, but more enjoyable for mewhich resulted in more money in less timewhich is good!

Ok, you ready? Its all about creating SYSTEMS in your business. Basically, you need to ask yourself, should I need to implement a system for particular things in my business? Yes you have too, I’ve been there and When you start to implement systems in your business, you are starting to work ON your business, not IN it. You should really only be concentrating on the things you enjoy in your business and create a system for the rest.

So, how do we create systems?

First, for about a week or two, all I want you to do is observe your actions. What are you doing each day, or week that you dread? What is taking up a lot of your time? And what are the reasons you end up like a snail crawling on your works? These are the things that you need a system for.

Let me give you an example: When I first got started Mobile Bartending, I would create a customized shopping list for each and every customer. That means I would write and email and spend 20 minutes coming up with everything I thought they needed for their party! 20 minutes!! It wasnt until I created a Sample Shopping List that I could simply attach in an email to every client did I realize I had a system in place. Its a simple system but it took me from 20 minutes of work down to about 10 seconds.

Once you have identified crucial areas that need to be systemized in your business, you need to ask yourself what you can do to make this quicker, easier and more efficient. Sometimes it is using technology and the power of the Internet or software to have it done for you. Othertimes you might need to actually hire someone to take care of this aspect of your business. I have a virtual assistant working for me at just $3.50/hour out of the Philipines, she helps me trememndously!!

I also remember that setting up for a big event would take all day! I literally spend 5-6 hours setting up, cleaning tools, and prepping everything I needthat is a joke! Now? 30 minutes! Why?! Because I found a more efficient system that removed myself from the process!

Just remember, do what YOU love, and systemize the rest-and watch you and your business grow! Realize every important steps that you should implement to increase the growth of your bartending business is a very wise alternative choice.

How To Buy A Laundromat Business For Beginners

For buying a coin-operated laundry service facility or how to purchase a laundromat business, you’ll need a little knowledge about the subject. Purchasing a coin-operated laundry business can be done by anyone. You can buy a coin-operated laundromat probably without having to worry about any additional costs or expenses. This is a business that can remain for a long time because of the amount of dirty laundry out there. The main necessity in buying a laundromat service is that you start with a solid foundation and plan. This is the most important thing you need to do before procuring or beginning a coin-operated laundry service.

The area and neighborhood is the most crutial element when building a laundromat service. When you build a laundromat service or procuring a coin-operated laundromat business, you need to ask the owner why he or she is selling. Be persistent with your questions. It is in your best interest to uncover the real reasons because you will be the one holding the bag later. It is possible that other coin-operated laundry services are available in the area or the machines are very old and need replacing, or the lease of the property will be increasing. You must do you research, and do it thoroughly.

The next thing you should be doing is to find out what you can expect to make from the laundromat business. You should establish what you intend to earn, and then do research to make sure the laundromat business in question can deliver this. Never underestimate the ability of a seller to inflate his numbers to make the business look more profitable then it really is!

You need to determine where your initial capital comes from. Your source for your startup costs can come from many different places. You can pursue a personal loan from friends or relatives. If you already have an existing relationship with a bank or other financial institution and lots of statistical information about the business revenue, you should be able to obtain a business loan from any financial institution. But with todays market, it can be hard to get the financial institutions to loan any money at all. It is fairly simple to buy a laundromat business, but maintain a reasonable profit margin is a lot harder. If you dont invest the time and research, your coin-operated laundry service could flounder.

If you are going to buy a coin-operated laundromat business or you are buying a coin-operated laundromat, you must have properly running equipment. How do you expect to run laundromat successfully without having the equipment? If you are obtaining a laundromat, you should have the laundry machines inspected by a professional service. the general status of the machinery should be taken into consideration into the price of the business. Remember, there is always some type of maintenance needed on an on-going basis – machines break down and need repair sometimes. You can perform all the maintenance on your own, or hire professional services to do the labor work for you, giving you the time to run the business.

After buying a coin-operated laundromat business, all you have to do is make sure your equipment continues to operate, correct any problems, keep it tidy and clean, and collect your money from the machines. Owning and operating a coin-operated laundry service is is relatively simple, but the difficulty is in selecting the proper location and not over-paying for a coin-operated laundry business. Whether you are building a laundromat or you want to start a laundromat service, you need to do your research.

How Can A Seo Consultant Help Your Business

How long will it take me to get a decent SERP on Google for this keyword?
2. Is this business looking viable to you?
3. Do I have a lot of competition in this online business
which I am starting and how can I compete effectively with them?
4. How can I make the most out of my marketing efforts?

Some excellent SEO consultants can even answer these questions:

1. Should I buy a used domain in order to rank high really quick?
2. How is my competitor ranking on the top with half the links that I have?

3. Should I continue this business or start over in a new niche?

The point of the whole article is simply that SEO consultants can save you a lot of time and money in the long-run. So, instead of using trial-and-error in trying to market different things online, it would be much better to make a one-time investment and ask your SEO guy all these questions.

Some established SEO consultants charge upwards of $500 per hour, which might sound like a lot of money, but spending a good amount on SEO consultation can really help you get the facts together for your business.
by SEO Consultancy Services

Facebook Business Applications And Marketing Tools – Even Create Your Own

The idea behind using a social networking site as Facebook as a venue for doing business is building a user base in the form of a community who respond to you as a person or to your product. If you just turn your page into one big advertisement, you are not going to get much in the way of a response. You need to educate people about the product without coming across as a hard sell.

You want to create the impression that you are here for socializing, not business. People will come to trust you and be more likely to buy your product or service if you can do this.

Facebook has built in tools which can be used to build your business. These include:
– Social Ads
– Pages
– Beacon
– Insights
– Platform
– Polls

These tools can help you to build awareness of your brand through this social networking site and bring in potential clients. Needless to say, you are going to have to learn to use them effectively. Read on to find out how to harness these tools to build your business using social networking sites.

You can learn how to take further advantage of these features by visiting the facebook website business section.

SOCIAL ADS

Social ads have a lot of promise for building your business since they can go directly to the news feeds of your Facebook friends. Anyone who is on your friends list will be able to get the word about your business right on their profile page.

This is also a very easy way of target marketing. You can control exactly who sees your ads – and target marketing is the way to get sales.

FACEBOOK PAGES

You can make a Face book page for a business, just as you would for yourself. This allows people to interact with and even become friends with your business. It is a great way to make a lot of people aware of your product and your brand who would not otherwise.

You know when someone becomes friends with your business on Facebook that you have a potential client; at the very least, they have shown some interest. People can interact with your business as they would with any of their other social networking site friends – they can leave comments and generally enhance the experience of a visit to your page.

You can use this social networking site to your best advantage by adding features that will appeal to your target market and fit in with the brand image you are aiming to create. Quizzes, games, a Facebook group and so on.

FACEBOOK BEACON

Like social ads, Facebook Beacon gives you the ability to build your business by promoting yourself via your Facebook friends news feeds. You can set Beacon to notify all of your Facebook friends whenever you have a new product available, or any other sort of news or information you would like to disseminate amongst your Facebook friends. All you need to do is to add a little code to your Facebook page (this can be done by copy and paste, so no need to panic).

This encourages more interaction with your page, the website of your business and your company in general. This also helps get the word out about your businesses product or service.

Do not fret that you will be mercilessly spamming your Facebook friends and invading their privacy – they can opt out of these updates at any time they choose. You of course have the same ability for Facebook Beacon updates from others.

FACEBOOK INSIGHTS

If you are using facebook as a method of promoting your business you will of course want to know just who is checking out your Facebook page, clicking on your ads and joining your friends list. Facebook Insights is a tool which can give you a lot more detail on these sorts of statistics, which can help you to evaluate the efficacy of your campaign.

Armed with this information you can make the call as to whether viral marketing is working in your favor. Word of mouth is one of the best means of advertising and Facebook can facilitate it on a large scale. Facebook Insights lets you figure out what parts of your campaign are working and which are not as well as giving you valuable demographic information which will help you refine your campaign further.

FACEBOOK PLATFORM

Facebook Platform is an exciting tool for business indeed. Programmers can use this tool to build programs which will work with Facebook and add to the usefulness and fun of your Facebook page. If people like what you have on your page, they will spread the word and this build your client base.

You can add all manner of different applications to your site using this platform. Many opt for games, quizzes and other interactive features. You can have a look at the Applications page on the Facebook site to get an idea what sort of things others are using the platform for. These kinds of features can really help you build your brand image; take advantage of them.

FACEBOOK POLLS

Facebook polls can be a great way to gather demographic information from people using the site. Since you can make the poll interactive and fun to use, you’ll have no trouble gathering data. Best of all, you can target your polling.

You can make sure your polls are targeted just where you want them to be since you already have access to some data such as marital status and age of your Facebook friends. This helps you keep your polling relevant.

Do not forget about these valuable tools – they can really help out your business.

Anyone who is willing to put in just a little bit of effort can make their own applications for Facebook. You just need to learn Facebook Markup Language – there are plenty of tutorials online which can help you learn the ropes of this quickly.

Remember to have a look through what is already out there in terms of Facebook applications before you develop your own. If everyone is already using a very similar application, not too many of your fellow facebook users will be enticed by it. Do something a little different if you want to grab the attentionof people.

CREATING APPLICATIONS FOR BUSINESS

With just a little bit of programming know how, anybody can make and distribute their own applications. You’ll be doing this to build your business and it can make a big difference. Applications can really draw in people and keep them on your site. Games are especially popular and can build your brand while keeping users engaged and entertained.

You would be unwise to neglect the use of these applications available to you through Facebook. They can help get the word out about your business – and that is why you made a Facebook page for your business in the first place, no?

You will also be building a sense of community amongst all of these potential customers which will help you get sales.

Here are a few tips for getting the best results from your applications:

1) Make it relevant
In marketing, relevancy is everything. If your potential customers can not get into it, or if it is unclear how the application ties into your product or service, rethink your application.

2) Privacy policy
Even if they are on facebook to socialize, people still want their privacy to be respected. This is why there are friend lists and groups, to which one must be invited. Privacy is a natural human desire and Facebook facilitates this while still allowing for socialization. Remember to respect the privacy of users and retain that trust you have worked so hard to build with them.

3) Free distribution
Once your application is finished and ready to go, you will distribute it. You can do this by listing it on the site along with all of the other Facebook applications and then invite others to install it. If your facebook friends like your application, they will spread the word.

My website … epic fails 2014

Choosing Great Painting Business Names

A good business name is necessary to help you to build a strong brand and market your services successfully. A strong brand will give your business an identity in the market place, help you to make a good first impression on people and help to build a positive reputation among customers in the long run.

Below we have set out a number of tips and ideas for you to consider as you proceed to think suitable painting company names.

Don’t Limit Future Opportunities

Effective business names give potential customers a clear message about what products or services a company offers. This is one sensible approach but it is important not to pigeon hole your business too much as you may want to change direction, sell the business or introduce new services at a later date. Your name should indicate what you do while still being general enough to offer flexibility.

By all means include the word ‘painting’ in your name, but don’t be too specific about the market that you are targeting or the exact services that you offer. If you feel that you will branch out into other areas in the future then the word ‘contractor’ may be more suitable.

You should also think twice before including the owners name in the business name. This can offer a nice personal touch and give customers the impression that they are dealing with somebody who has a good reputation. However, this approach can make it hard for you to sell your business if you want to do so at some point in the future.

Including the name of the area or region where you are doing business is also an option that usually works well. However, if you ever want to offer services outside of this zone then such a name can become irrelevant or confusing.

Memorable and Unique

A great name for a business is one that can be easily remembered. People should be able to recall it after hearing it only once or twice and they should be able to pronounce it correctly. Once you have a short list you can run some tests on family and friends. See which ones they were able to hear clearly over the phone and which ones they were able to remember a week later. If you can think of a name that will stick in peoples minds then you will really have their attention.

A great name should be unique and professional at the same time. If you look in The Yellow Pages or online you will find plenty of clever, catchy and creative painting business names. While names that are funny can sometimes get more attention, you may find that some sectors of the market don’t relate to them, misunderstand them or even find them offensive. The best choice is often to go with a more conservative sounding name. This will come across as being much more professional and appeal to a wider market.

Originality and Usage Rights

While you can look to other industries for inspiration, dont imitate the names of other local businesses too closely or you will risk confusing consumers. You need something that is truly original if you want your business to stand out.

Make sure that no other companies are already using the name that you would like to use. Search The Yellow Pages, the Internet and the database at your county clerks office to make sure that you dont infringe on the intellectual property of other companies or individuals.

Domain Name Registration

Check that there is a suitable domain name available and register it at the same time as you finalize your business name. You will need to get a website up at some time and it is nice to have a domain that matches your name.

Preferential Listings

Many people name their business ‘A Plus Painting’ or something similar because they want to be among the first listings in The Yellow Pages. This is becoming less important these days though as popular search engines on the Internet don’t display search results alphabetically.

Acronyms

Give some thought to acronyms. If done right they can be an easy way for customers and business associates to refer to your business by using the first letter of each word. Just make sure that you stay away from embarrassing or weird acronyms.

Expert Advice

Many people underestimate the importance of a business name. It is one of the elements that will help your company to win the hearts and minds of the marketplace over many years. Some smart entrepreneurs are now starting to hire naming experts to help them make this crucial decision. While it is unlikely that a small painting startup would go to such expense it wouldn’t hurt to run your ideas past someone with a decent level of experience in business.

Avoid a Name Change at All Costs

Sometimes it becomes necessary for businesses to change their names because they have become old fashioned or irrelevant. This may become necessary for you at some point in the future but you should do your best to avoid this. The costs associated with such a change can be extensive so your selection should be able to stand the test of time.

A Name That You Like

Above all, you, as the owner of a painting business have to have a name that you like. There is no point in using a name that sounds embarrassing or makes you cringe every time you say it. Your business name should inspire you and make you feel proud to be a painting contractor.

Dont treat the selection of your painting company name too lightly. Give this important decision the time that it deserves and come up with something that can carry your painting business forward to future success.