One of the more important- as well as fun- tasks of starting a business is naming the business, and with that task comes a lot of pressure for many entrepreneurs. Because not only does a business name identify the business, it also positions it in the marketplace, offers an identifiable image for consumers to relate to, and can easily determine the success or failure of the business venture.
What follows are some business name ideas intended to assist fledgling entrepreneurs with avoiding the pitfalls of a poor business name choice. Take a peek at the suggestions that follow, use whatever ideas work, and then test the business name concept thoroughly before making a final decision
Realize That Choosing A Business Name Is A Marketing Decision
It wouldn't hurt to briefly glance at a marketing plan now, to get an idea as to what kinds of marketing decisions will need to be made in the near future with regards to starting a business. So keep in mind the number one rule of marketing while naming a business- minimize customer unhappiness and maximize customer contentedness- and think about how a business name might assist in this process.
Choose Simple and Straightforward Over Complex or Clever
Ever work with a business whose name did not immediately advise its customers as to what products or services it offers? Not only is it frustrating, it takes a lot of marketing dollars to ensure the end user knows (for instance) Nike means sporting apparel. Don't fall into the big business trap by choosing something challenging to market, and try to focus on a business name that is clear and direct, instead.
Distinctive Is Still Important In the Business Naming Game
Even though direct is important, distinctive is even more so, and not only because of the legal ramifications of choosing a business name that has already been used elsewhere. Customers want to say a business name and immediately identify who that company is, and what they provide, so don't ignore this crucial thought process when choosing the 'right' business name.
Humor Is Best Avoided When Naming a Business
"Cuts To Dye For" might make some customers smile, but it may also alienate others with its dark sense of humor. Unless humor is tantamount to the business being started, avoid using funny business names or ones that include the use of puns.
Don't Choose The First Business Name That Comes To Mind
Make a list before choosing a final business name, and mull it over for at least a week. Although the first idea may be the right one, it needs to sit and marinade a bit, first. And while the business name marinates in a list on the desk, check the Yellow Pages to see if its been used before, and speak to a lawyer to ensure it isn't a copywritten term.
Run All Business Name Ideas By Trusted Advisors And Potential Customers First
Stop someone on the street and ask them about one of the conceptual ideas chosen during this business naming process. Is the response favorable, mixed or confused? Was the business idea immediately understood, or did questions ensue? And once strangers have been asked, speak to some business associates as well as friends as family too, to get their take on the business name as well. This title will be a beacon in the community, lighting the way for entrepreneurial success, so it can't hurt to get a fourth, fifth or even tenth opinion before making a final decision.
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