What’s in a name?
George Casey, one of the sharpest and most knowledgeable minds in real estate, observes an interesting—and, I think, encouraging—trend among builders emerging from the housing meltdown.
Eschewing the long-established tradition of naming companies after their founders, we’re beginning to see builders instead defining themselves by the product they create. (And when your product is as emotionally resonant as home and community, I would argue that’s a wise move…especially if your name happens to be Petkoski. See below.)
George writes, “[These] new businesses have a unique and one-time opportunity to name themselves whatever they choose. In doing so, the founders have the chance to impact what people think about that company (and what that company’s future employees think about the company and themselves) for a long time to come, even before they create or sell their first product.”
So you have Larry Webb starting The New Home Company, and Tom and Caroline Hoyt considering renaming McStain as The Sustainable Neighborhood Company or something similar. But my favorite is Bill Petkoski, who’s in the process of forming The Cottage Home Company, an infinitely more graceful name than Petkoski Homes, had he chosen that option. (No offense, Bill, but it doesn’t exactly roll off the tongue.)
Now granted, these examples are anecdotal evidence, not proof of an industry sea change. Skeptics might point out (rightly so) that a name is nothing but a thin veneer of paint if the company’s underlying values and behavior aren’t aligned.
But don’t underestimate the psychology of a name. I think George nails it in the opening sentence of his blog:
“Names are important. What we call ourselves and what others call us helps to define who we are and what others perceive us to be. They can also influence what we become in the future.”
If that’s true, then I consider it a good start that these builders are stamping their values, not their egos, on their companies.
[ NB: There's an interesting parallel in the social, political and cultural factors involved in the naming of public housing projects. David Lancaster points us to an article here, another example that names do matter in more than cosmetic ways. ]
April 19th, 2010
3:36 am
This is an encouraging trends. I’ve often wondered why so many builders name their companies after themselves as opposed to selecting a name that articulates their point of view or the true nature of their product.
April 25th, 2010
9:58 am
Love the idea of naming companies after your values, not egos. But let’s get creative here. Let’s tell a story. Let’s bring back the joy of home and community. If the names are too generic, they become invisible. Let’s be memorable.