When Coldsmoke started on its entrepreneurial journey, establishing a bank account emerged as a formidable challenge.
This was approximately seven years ago, a time when the obstacles we encountered extended beyond mere bureaucratic hurdles.
The difficulty stemmed from the very name of our business - Coldsmoke. It seems our chosen name raised eyebrows, leading some to associate us with less savory enterprises, such as illicit substances or vaping products. This was in the days before vaping became mainstream.
In those early years, banking institutions were wary of associating with us. Our distinctive .Co TLD domain name, coupled with the moniker Coldsmoke, appeared to have cast a shadow over our reputation in their eyes.
Consequently, our unconventional business name and domain became significant deterrents, complicating the process of securing a bank account.
The struggle was real, especially considering how crucial a bank account is for any business. It was a frustrating obstacle that we had to navigate around.
We actually began the process by considering a name change.
We got so far as to select a new name and start some brand identity work around that name.
However, in my gut, changing the name never felt right.
Sure, no one truly "gets" what Coldsmoke means.
Yes, people sometimes call us by incorrect names, such as "Cold Smoke" or "Cloud Smoke," or mistake us for a vaping company.
Despite the initial reluctance from banks, we persevered. We dedicated ourselves to proving Coldsmoke's legitimacy, emphasizing that our brand transcended its name - it embodied a distinct vision.
Over time, as vaping became more accepted, and our business flourished, the once-elusive bank account gradually materialized.
Reflecting on those early challenges, we recognize the importance of persistence and determination.
Starting a business may throw unexpected hurdles, but with the right mindset, even the most formidable obstacles can be overcome.
For those currently grappling with similar adversities, know that you're not alone. Seek guidance, explore alternative avenues, and maintain unwavering momentum.
Often, the path to success entails navigating through unforeseen twists and turns, transforming obstacles into stepping stones along the way.
