• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Element 42. Punchy, Compelling Story > The Coin-Operated Laundry—Punchy, Compel...

The Coin-Operated Laundry—Punchy, Compelling Story score: 7

Your story for this business is not yet a best seller. You will have a challenge crafting a punchy, compelling story that will advance you into a sure success. You are about to open a Coin-Operated Laundry and a cleaners. The advantage you enjoy is one that involves a marginal improvement in quality and nothing more. Until you come up with something better, the optimum score is therefore only a 4. My logic in this score is that it has some interesting features (the innovation), but that it cannot meet even a halfway mark to a perfect 10. How can it be improved? Hammer at the uniquenesses. “Our shop can’t be beaten by any stain.” “We save all great clothes and fabrics from ruination by stain and we plan on a nationwide roll out.” Come to think of it, let’s raise that score right now to a 7.

Dr. Market’s Observation:

One item that does not quite deserve to be added to the Scorecard is the use of the wrong name. Whole studies are available for using names that are old, new, personal, deceptive, descriptive, long, and short. It is an up-front consideration for you and will be fun to create. However, there could be trouble waiting for you if you use a name that belongs to someone else in the same industry. To test your name, try to register it on www.register.com, and then check to see if it is registered as a service mark on the U.S. Patent and Trademark Office website, www.uspto.gov. If your favorite name is owned or under the registry of someone else who is in a very similar line of business, it may not be a great idea to start your venture by picking a fight. Change the name! Once you have found a winner, then you register it on the web and at the USPTO under your ownership. If it is really, really important for you to use a name owned by someone else, let qualified legal counsel guide you and get their opinion in writing. A mistake here can be expensive, embarrassing and so unnecessary.



PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint