What makes me an expert on when and how to change your company name and/or rebrand?
My family business was originally in just fuel oil heating (think propane heating), and my dad and my uncle were always doing acquisitions because urban renewal had chased our customers out of our service area. When they acquired a new company, they thought people wanted to do business with a company name they were familiar with.
Well, skip many years ahead and my brothers and I are at work alongside my dad (as my uncle had passed away). Anyway, one cold day in February, I went to a Super Bowl party, and I heard a couple of people getting into a heated argument, so naturally I got closer so I could hear what a couple of fellow New Yorkers were arguing about.
One of them said to the other, “I have the best heating company there is.”
The other replied, “You don’t know what you’re talking about. I have the best heating company!”
I asked them both which company they used, and they told me the names. I gulped. Both were using me, but they had no idea we were all one company! Worse, there were four other companies we also owned that were in the same situation!