Any short marketing statement you make needs to reflect your unique selling proposition (USP), what it is that makes you different. For Wal-Mart in the USA their USP is low prices, so that is what their slogan is — ‘Always Low Prices’ – which is why it works for them compared to most other company’s slogans. But even then they need to massively promote it.

In general, I don’t think your business name makes much difference for the simple reason that there are thousands of ‘XYZ Home Loans’ and ‘ZYX Mortgages’ out there already. People are just very unlikely to remember your business name unless it stands out in some substantial way.

Most of the time I think a business name is just a distraction to them developing a person to person relationship with you. Also, if you decide you want to also do car loans for your clients, having a business card with ‘XYZ Home Loans’ on it doesn’t really help your cause.

What you want is to stop clients seeing you in the transactional way of ‘this company is helping me with this immediate need I have’. Instead you want them to see you as ‘this person is my Trusted Advisor who is taking care of my loans’.

I have had many Brokers who have joined me from large, household name home loan businesses. Some were from lenders, others from major Mortgage Broking franchises. When their past clients call them and dutifully tell them they still work in home loans but no longer work for that bank or big name Broker, the clients never care. They have called that Broker because they trusted them as a person, not the company they worked for before.

When you get to your appointment and say, ‘Hi I’m John Smith from XYZ Home Loans’ you are making yourself interchangeable and reducing your uniqueness. The client thinks they would be just as well off with ‘Harry Jones from XYZ Home Loans’ or ‘Jenny Wilson from XYZ Home Loans’. You are making yourself a commodity – so instead, try saying ‘Hi, I’m John Smith and I specialise in helping first home buyers get home loans’.

An exception to this is if you can build your marketing around your business name in a meaningful way. But even here you have to be careful because if your marketing strategy doesn’t work out as you planned you might need to rename your business to reflect your new direction.