How to Choose an Effective Business Name
If you ask a hundred people who are in business regarding how they came up with their business name, you will get a hundred different answers. Every business name has a history behind how it was chosen. Even if a business is named after the owner’s nickname, there’s a rationale behind it.
When you start a business, you are, in a way giving birth to something. This new birth came from an idea alone made by you or your group. Later, it will have its own account in a bank, its own government identification number, its own financial accounts, its own revenue and its own bills. In writing, it is another entity! Just like you were selecting a name for your own unborn child, you have to spend fair amount of time in deciding on a business name.
There are various reasons why a good name is critically important to your business. The first obvious reason is its initial identification. Nobody would wish to deal business with a nameless entity or individual. This makes you appear unprofessional and very unreliable. Even if you call your company "John’s Pet Grooming Service," a company name has been set up and you are indeed a company. People will consequently feel more comfortable transacting with you.
Secondly, a business name generally is an indication of the product or service you provide. "Andy’s Editing Service," "Crochet Club for Women," "Johnny-Dandy Handyman," "Lanie and Henry’s Laundry," and "Genie’s Gift Shop" are all examples of simple business names that instantly tell the customer the product being offered.
However, a lot of people will take the simple way of naming their business. They use their own name, their spouse’s or partner’s name, their children’s names or a combination of these names as a business name.
However, research has also shown that "cutesy" names are not the most effective to be used as business names. Experts claim that using such makes the business look a bit too "mom-and-pop-sie." Still, this depends on the type of business. If you think that your type of business would need this theme to reach out to your market, then perhaps this is the best use approach.
Other business owners would use catchy terms to name their business. It would also be good to get the business name easily recalled in people’s memory after the initial encounter. Names like, "Dough Delights," "Fill It Up," "Paper Partner," or "Treasures Trove," are all fine examples of attention-getting names. These types of business names not only relate to your product or service but also serve as a form of catchword for your business. This provides a lot of benefit in marketing.
Think of marketing concepts that will not only get your business to be noticed but also remembered in a pleasant way. For instance, when you choose a name for a child, you do this perhaps because the name is associated with a type of character or personality. When you name a business you need to ensure that you know the product or service you will be selling before you decide on a business name to give some clue to your potential customers as to what your business is all about.
A business named "Gentle Suds" normally wouldn’t be selling pastries and a business named "Nuts and Bolts" would not sell baby clothes.
To help generate ideas - start out by observing business signs wherever you go. Take note of the ones that catch your attention and stick in your memory. Evaluate why you can easily remember them and start creating possible business names of your own then single out the perfect one to suit your business needs.
Download free ebook: Free Small Business Management E-book Download
Read More......
Posts
