Over the past few weeks you may have seen a change to the name of this website and newsletters. It is true we have been moving from F4 Solutions – which didn’t really say what we did, to RTO Mentor. Yes there was a story behind the original name, but the original idea changed so we needed to say what we really did.

The fact of the matter was we are RTO mentors, and that is what we wanted to be known for. So we took the challenge. As with everything though, the process is not just as simple as registering a new business name. The new name needs its own bank account, its own Tax Number, its own credit accounts, its own income and its own bills. On paper, it is another individual! It changes the whole structure of the business, and these many items take time to change. So for now please don’t be confused by the changes.

So if you are starting your own Registered training organisation (RTO), then I recommend you consider the benefits of not changing a name some years down the track. Take time out as part of your planning to really consider what training you are going to provide

Consider the naming as important as you would choose the “right” name for your own child.

Here are a few tips on why a good business name is vitally important to your business:

• The first obvious reason is because it is the initial identification to your customers.
• Your name can tell a story
• A good name provides your customers with clarity on what you offer.
• Help you stand out from the competition
• Add value to your company

When you are choosing your business name you should make sure that it is:

• not too long
• not so obscure that customers will never know what it means.
• easy to pronounce
• easy to spell
• catchy – and easily remembered
• not likely to date
• something that relates to your product or service
• not offensive
• not misleading
• not using letters and numbers in “fancy ways”. Avoid using a “K” in place of a “Q” or a “Ph” in place of an “F”, or using a number instead of letters. This makes spelling the name, hearing the name over the telephone and locating it on the internet, all that much harder. Or as in my case, I was always being asked if I worked for “Airforce solutions”.

If you think you might want to trade overseas, you should check the suitability of your business name in other countries. Take your time, it will come to you. When it does try saying the name over the phone to people, and get their response, then of course review if it is taken, repeat it to yourself aloud, and test it on friends.  Soon you will have the perfect name for your RTO.