Most of us face this question when we're starting out a new venture, and also, most of us approach this wrong. In this article, I'm going to reframe this question so that the solution becomes clear. As always, there is no best option but there is a best option for you.

You want to appear professional. You want to be taken seriously, so you lean towards a dedicated brand name. While this may be true in some domains like technology (think Apple vs. Steve & Woz's Computers), it may be counter-productive in service businesses like law, architecture or design, where the personal touch of the owner is the unique selling point.

But what if you get tired and you just want to sell the business? Does using your own name feel restrictive, like some sort of shackles that bind you to this venture?

Let's reframe the question.

Are you creating a profit-driven business or a lifestyle business?

This is what it all comes down to. What kind of business vehicle are you building? If its primary purpose is simply to make you as much money as possible, it means it's a profit-driven business. In this case, your goal is to establish it fast, scale fast and extract yourself out from it to either sale or hire a manager.

If this sounds like you, go for a dedicated brand name. It's going to help in terms of how scalable it is and the business won't ever be dependent on your own name if you eventually want to exit it.

On the other hand, a lifestyle business is something you do primarily as an outlet for your passion or vocation. Profit is part of it, but it's not the main goal. Its aim is to provide you with the perfect balance of fun and money. Your goal is to scale in a sustainable manner to the point you only do the stuff you enjoy doing. It's the type of business that is built around you and your identity. It embodies your goals and personality.

In this case, it is obvious that using your own name for the business is the better option. You will scale faster because people will always prefer working with other people. You will also attract customers and employees that get you and that you love working with.

The "Get Out of Brand Jail Free" Card

Yes, there is such a thing and it's called a rebrand. Most large companies go through it. Some start with a personal name brand and then choose to only use the initials or a variation of the last name. Some use an overly complicated name because they don't subscribe to my newsletter. Or they simply get acquired and become a division of a larger corporation. No matter the reason, you always have the option to change the name and pivot.

Whatever you do, don't get stuck on this decision. Done is better than perfect, always. If you ever reach a point where your business name slows you down, it means you have also reached the point of financial success where you can afford a rebrand. Just start.