Should You Rename Your Company to Match Your Niche?

Should You Rename Your Company to Match Your Niche?

After selecting a niche for your business, you might contemplate renaming your company to better align with that niche. While a new firm name might seem like a good idea, it isn’t usually necessary right from the start.

Choosing a niche is essentially undertaking a well-thought-out experiment. It’s possible to begin with one niche and transition to another based on evolving market insights and dynamics. It’s wise to avoid renaming your company until you’ve firmly established your niche. In fact, I recommend waiting at least three years.

Once your niche becomes overwhelmingly successful and dominates your client base, you can consider the need for a name change.

This tip is inspired by various sections of the book “Uncomparable: A Financial Advisor’s Guide to Standing Out Through Niche Marketing.”