I remember like yesterday, I was 11 years old when I fell in love with The Karate Kid. I was just like Daniel. I didn’t understand why Mr. Miyagi was making him wax the car with “wax on, wax off” and paint the fence “up and down.” I thought to myself, probably just like most of you, he’s just using that little boy!And that’s exactly what Daniel thought too. “I’m doing all your work for you,” he said.

But what Mr. Miyagi was really doing was laying the foundation for Daniel to defend himself.

Foundation is everything. It’s the key to your business.

I’ve written about this before, but not with this approach. This week in The Ground Up Academy, at least three of my students had to change their business names because they didn’t understand what is needed in the foundation.

If you’re starting a brand, here’s my advice:

    •    Come up with three solid names you like.

    •    Then, go for the trademark.

Do not start building your logo, designing your website, or branding your apparel until you know you truly own that name. This is foundational. This step cannot be skipped over, or it could cause you serious heartache in the long run.

There are so many benefits to securing a trademark, but the most important one is knowing you own your brand before you invest in it. There are countless horror stories out there—businesses forced to stop production, change their name, or even hand over profits because they didn’t own the rights to their name.

Imagine owning a building with your logo branded on the front, your bags and merchandise all designed, your social media fully built out and then someone hits you with a cease-and-desist order. Suddenly, you’re forced to stop everything or pay someone else a portion of your earnings.

This can happen, and it happens more often than you think.

I can’t stress it enough: foundation is key. Secure your trademark first, and then make your dreams come to life.

God Bless The Entrepreneur