Why (and How) I Changed My Business Name

I am a financial coach for digital entrepreneurs and I need my brand to reflect that - which means its time to change my business name!

A business' brand is a huge part of its story and its mission. In order to have the impact that I want to have in your financial legacy, it's critical that you understand the message that I'm here to teach you.

"The Lazy Source" couldn't even begin to communicate that message. And so, it's time to lay my adorable sloth logo to rest for a while (as in, yes, I have plans for its future!) and move into a new identity.

More With Money is a fresh start and a renewed mission. Its name contains a message that matters to me! And I hope, by the end of this post, it'll matter to you, too.

At the very least, I'll also be sharing the technical sides of how I changed my business name, since it's quite the overwhelming project.

One way or another, you're getting something out of this story!


Why I Changed My Business Name

 
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The Story Behind "The Lazy Source"

So often, I find myself explaining the name "The Lazy Source" because people are often confused when they hear it. I get it - what does being lazy have to do with money? Actually, quite a lot, but not exactly enough for people to immediately associate the brand with money management!

The truth is, when I started The Lazy Source, I set out to be a productivity and organization blog. My goal was to share quick and effective solutions for the laziest people, like myself.

In a matter of weeks, I'd completely failed to publish any relevant content (as in, lots of content, nothing related to the niche) and realized I had no idea what I was doing or why I was doing it.

I fumbled around for another month or so before I jumped on the "I blog about blogging" bandwagon. Not my proudest moment.

However, I did have business knowledge and experience - I was an accountant, after all! I felt like I was on the right track, even if I was just following the crowd.

And "The Lazy Source" still kind of worked - I made sure to focus on quick and efficient blogging strategies.

Sometime in the summer of 2018, I felt a strong call to use my accounting experience and financial knowledge to help digital entrepreneurs (not just blogging about blogging). And so I rebranded and launched my new website on July 1, 2018.

Except I held onto the name, despite a strong, scary itch to change it. At this point, I knew it had nothing to do with money and it was a weak association at best. But I was afraid of the change.

People constantly send me sloth memes and adorable Etsy sloth products because they associate me with them! I always received compliments on the logo and the name, and I bonded with many fellow "Lazypreneurs" over the months! So you can imagine that it was hard to let go of.

The Identity Crisis

But then, we hit the summer of 2019. Michael and I came back from a vacation in the beginning of June, and I had absolutely zero motivation to get back to work.

At first, I thought it was just adjusting out of vacation mode. But, after a few days, the lack of motivation persisted.

One night, Michael asked me why I thought I was struggling to want to get back to work. I don't think he realized what door he was opening with that question.

After a couple hours of a full-blown therapy session at 1:00 in the morning, I started to realize that I wasn't pursuing the same business I'd set out to start.

While there’s a lot to do with the back-end business model of my business (which is experiencing changes as well!), a huge part of this “crisis” was that my message wasn’t getting out.

The message I want to share with people needs to have a widespread impact! Which means I need to really clarify what I want to teach and make it easier for people to discover and understand that message.

And that's how we got More With Money.

 
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The Message Behind "More With Money”

More With Money is actually a domain I've owned and held for almost two years now. It originally was going to be used for a different purpose, actually. But using it now still feels right! The message is the same.

In short, I believe in intentional money management. I believe in dreaming bigger for your financial security and changing your legacy. I believe that you can do MORE WITH your MONEY.

Can you see it?

It's so simple, yet believing in this future for yourself is SO POWERFUL.

It's about not settling for "just fine."

It's about refusing to restrict your future to debt payments and the paycheck-to-paycheck cycle.

It's about choosing better for your financial legacy.

That's the mission of More With Money. That's the message that I want to share with the digital entrepreneurs out there who are already striving to change their lives through their businesses.

I want you to feel at peace with your finances by being intentional with every dollar you own so that you can use your business to free up your time for what matters most.

Simple enough, yes?

How I Changed My Business Name

So now, here's the overview of everything that went into changing my business name in case a rebrand is on the horizon for you, too!

The Planning

First, I spent a lot of time planning out what my core message and mission needed to be. I focused on the brand feel and impact I wanted before anything else.

As I said, the name More With Money has been in the queue for me for a while, but I still stopped to make sure it was the best option. When I evaluated the above first, I was able to affirm my decision to change the name!

Beyond that, writing out exactly what message I wanted people to hear from me helped me to branch out the visual elements of the brand, the content strategy, the product strategy, and more!

Try and write your message into one or two sentences. Above, you'll see that my mission statement communicates the following:

[RESULT] + [METHOD] + [WHY]

I want you to [FEEL AT PEACE] with your finances by [BEING INTENTIONAL WITH EVERY DOLLAR] you own so that you can [USE YOUR BUSINESS TO FREE UP YOUR TIME] for what matters most.

Rearrange the formula however you'd like. Add an element or two, if you want. But if you can communicate those three things in a few short sentences (or one long one, like I have. Queen of wordiness over here), you'll have a solid starting point!

Communication

The next important part of a rebrand like this is communication with your audience. I treated the rebrand as a mini-launch and prepared content accordingly.

I didn't want to just suddenly switch everything over without giving people a warning. Between emails, Instagram posts, and Instagram Stories, I divided up the “launch” content like so:

  • Content #1: Changes are coming! [explained my reasons for realignment]

  • Content #2: My business name is changing soon! [shut down my site]

  • Content #3: The story behind the rebrand/the new message [often flushes out subscribers who aren’t interested - don’t be afraid of unsubscribes!]

  • Content #4: The new brand is live! [reopened my site, new look, new content]

I also used Stories to share some extra details about other specific changes coming to my business, but the above were the main parts.

You may also consider sending more personal emails to past and current clients, people you've collaborated with in the past (for example, guest posts that may need updated bios!), and anyone in your referral/affiliate programs if you have one (so they're promoting the updated brand name).

Website

This next part is a huge reason why I procrastinated the rebrand for so long. And it was all for nothing.

I was dreading having to set up URL redirects for a new domain name. Turns out, I don't have to!

In Squarespace, all you have to do is set up/transfer in your new domain. Mine was being hosted in Siteground so I did a domain transfer which takes something like 10 minutes following Squarespace's basic instructions.

Once you have that added to your current site, both domains will automatically direct the site visitor to the default. So, in my case, as soon as I added the morewithmoney.com domain to thelazysource.com, you could type either one in the address bar and Squarespace automatically redirects you to thelazysource.com.

However, I want morewithmoney.com to be what displays in the address bar, so all I have to do is go to

Settings > Domains > select your new domain > "Make Primary Domain"

Squarespace will now reroute any link that starts with thelazysource.com to a morewithmoney.com domain!

So yes, that means that "thelazysource.com/blog/profit-first" immediately routes to "morewithmoney.com/blog/profit-first" - no work on my part! It's a beautiful thing.

From my understanding, many other web hosts function similarly. So it may still be relatively easy if you use WordPress! Here's a link to a brief tutorial from my other recommended site host, Siteground.

RELATED POST: Why I Suddenly Switched from WordPress to Squarespace

Email (G Suite)

This was actually the most complicated part, and it wasn’t even that bad once customer support and I figured it out!

Because I use Squarespace, my domain email (katie@thelazysource.com) is hosted in G Suite. I wanted to be able to use my new domain email (katie@morewithmoney.com) but still receive emails from the old address, since so many people had that one saved.

Here’s what you’ll do:

  • Go to your Admin console of your G Suite account - admin.google.com

  • Navigate to “Domains”

  • Select “Manage Domains”

  • Add a domain alias by selecting the “Add a domain or domain alias” button at the top

  • You’ll want to have the option “Add a domain alias of [your original domain]”. This will allow you to manage BOTH email addresses within ONE inbox. “Add another domain” will give you two separate inboxes, which isn’t what I wanted to do at this time.

  • Enter your new domain in the box (so I input “morewithmoney.com”) and continue on to verify your domain! You’ll have to follow the instructions given by Google for this - for Squarespace, I usually choose the option to insert an HTML code into the “Header” of my site.

Once you do all that, you will receive emails for both addresses, new and old, in a single inbox! Your login information will still be the original one, but you can set your default email to be the new address.

Social Media

And finally, the social media switch! This one is actually quite easy. I only use Instagram and Pinterest at the time of this writing, and you can change usernames on both of those platforms extremely easily.

The trick that I picked up along the way, though, is to still use your old username so you can redirect people to the new one!

It's simple: all you have to do is create a new account with the new username/handle you'd like to use with your new brand. I'd actually recommend doing this as soon as you know you want to change your name so you can make sure no one takes the handle in the meantime! It happens, especially if you start talking about your new name ahead of time.

When you're ready to make the switch, alter the new one a little. In my case, I wanted the Instagram handle @katie.morewithmoney - so I created that account weeks before the change. When I wanted to change my primary account handle to the new one, I had to tweak the second account so it wasn't taken - so I just added an underscore at the end to make it different - @katie.morewithmoney_

I immediately log back into my primary account that has all my posts and followers on it and switch it from @thelazysource to @katie.morewithmoney - the handle that was originally being held with the second account.

Now I can go back into the second account and change it from @katie.morewithmoney_ to @thelazysource - in the bio, I let people know that my account has moved to @katie.morewithmoney!

Now, my current account has the new handle, but I have another account with the old one that references and directs people to the new handle!

Super simple trick, but it's a really easy way to make the transition easier for everyone involved.

More About the Mission

And that's the scoop!

I'm honestly so excited for the new direction of my business. Beyond the name change, I have a lot planned for future coaching services, future content, future products, and more!

To learn more about the new mission of More With Money, head over to my About page! There's way more juicy details over there (and pictures of my dog)!

Until next time!

 
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