Filed in archive Start Up by John Dornoff on October 24, 2007

Judy's Book on the verge of closing

While you always want to learn from successful companies, you also need to take a look at those that are having problems so that you can avoid the same mistakes.

Here is a case of a Seattle startup that is either going to be sold or shut down, so what are some things that can be learned?

1. What does their name have to do with what they do? While Amazon may have nothing to do with selling books, but when you hear the name Judy's Books you think Bookseller.
2. It was not working out so they reinvented the company. While it may be easier for a start up to do this than a long established business, it is not an easy task and once again the name does not help.

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Response from: Barry (10/25/07 10:31pm)

I couldn't agree more on the name. Very confusing, especially with Angies List out their too. The other tip is, if you change businesses, don't hedge you bets and keep the original going (as they did). Go for the new one 110%!

Response from: Before They Hatch (10/26/07 11:01am)

Naming your business has to start from defining your customer proposition, what you are trying to deliver your customers. A name like Amazon does not mean anything about books but the choice of the word was good, in creating an imaginary connotation. It was a smart choice actually, as it has expanded beyond books.

But it is more difficult to find a good name like Amazon these days, because all the potential domain names are taken, unless you are willing to negotiate with the owners sitting on them. Any tips how to deal with this situation?