"Great! Tell me about it!"

He proceeded, for next five minutes, to explain. It was on Internet. Doctors and lawyers are doing this as a side business and are doing very, very well. He said "It's a sort of mall on Internet, you should check it out." He gave me web address and then he had to tend to a customer.

I had no idea what he did.

Can you explain your business clearly to a complete stranger in 20 seconds or less? Can you do it in such a way that, if they are in a position to use your product or service they will want to know more? If not, you have some work to do!

Whenever and wherever you go you will meet potential customers, and you may not have much time to talk to them. If you cannot clearly explain your business in a very short time, you could lose an opportunity to interest someone in what you do; someone that would be a good prospect if they knew.

You have a professional looking website, you have your logo prominently displayed for your customers to know who you are.

You have found right product or service and have actually started making a profit.

But you have forgotten one last very important step.

You did not check to see if there were any other businesses with a similar name to your web business.

This could be a very costly mistake on your part.

If you happen to have a name that is same as another website or business you could possibly find yourself in a heap of trouble.

Or you may come to find out that there is another website or business that is using same name as you in same type industry.

If this is case, you stand to lose profits as well as credibility.