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Tips for Naming Your Business
Naming your business is like naming a child. It is a name that will
stick with it the whole entire lifetime of the business. So what are
some factors that need to be looked at when naming a business? I heard
on one company that named their business something that started with
the letter ‘A’ because they wanted it to be close to the beginning of
the phone book.
But seriously, what is in a name? Think of the parents that call
their daughter Carrie. Nice name you say, and yes, it is. But what if
there last name is Okey? Then her name would be Carrie Okey… Business
owners should put as much thought into naming their business as they
did coming up with their idea. Some professionals believe that the
business name should suggest something of your business, while others
believe that it should be more abstract. Others believe that more
abstract names, like made up ones are the best, because they are easier
to remember.
How about hiring a professional? You hire an accountant to do your
books, why not hire a name consultant to help you name your
business? The upside of hiring a professional to carry out this task is
that they have experience in this field and will name your business
appropriately. The downside of this, however is that it can cost big
bucks. If you are a small-business owner, you will probably take on the
responsibility of naming your business yourself. Here are a few ideas
that may help you in that endeavour.
-don’t make it territorial. If your business is called Pittsburgh
Clothing Company, what if it diversifies and you decide to go national,
what is relevant in the colder climates might not be in say, California.
-don’t be specific. If there was a business called Chrissies’
Crepes, could it also sell donuts? Would it be known for selling
donuts? No, probably not.
-define what qualities you want to be identified with. Something
like ‘The Country Vegetarian” for a restaurant would portray fresh
country vegetables to the hungry person looking for a restaurant.
-research, brainstorm, look at magazines, dictionaries
etc. Professional ‘namers’ come up with somewhere from 800 – 1,000
names before choosing one, so be prepared to spend some time doing this.
-go with your gut, do a test market or a focus group before naming
it. Say the name out loud – imagine hearing it on radio or seeing it in
the print media, does it portray what you want to come across?
Naming a business can be tricky, but by doing some research and
giving it careful thought, you can come up with a winner that will be
on everyone’s minds and lips for decades.
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