Choosing a business name. Start by deciding what you want your name to communicate. It should reinforce the key elements of your business. Your work in developing a niche and a mission statement will help you pinpoint the elements you want to emphasize in your name. The more your name communicates to consumers about your business, the less effort you must exert to explain it. According to naming experts, entrepreneurs should give priority to real words or combinations of words over fabricated words. People prefer words they can relate to and understand. Thats why professional namers universally condemn strings of numbers or initials as a bad choice. On the other hand, it is possible for a name to be too meaningful. Common pitfalls are geographic or generic names. A hypothetical example is San Pablo Disk Drives. What if the company wants to expand beyond the city of San Pablo, California? What meaning will that name have for consumers in Chicago or Pittsburgh? And what if the company diversifies beyond disk drives into software or computer instruction manuals? How can a name be both meaningful and broad? Descriptive names tell something concrete about a business -- what it does, where its located and so on. Suggestive names are more abstract. They focus on what the business is about. Consider Italiatour, a name that was developed by one naming company to help promote package tours to Italy. Though its not a real word, the name is meaningful and customers can recognize immediately whats being offered. Even better, Italiatour evokes the excitement of foreign travel. When choosing a business name, keep the following tips in mind: Choose a name that appeals not only to you but also to the kind of customers you are trying to attract. Choose a comforting or familiar name that conjures up pleasant memories so customers respond to your business on an emotional level. Dont pick a name that is long or confusing. Stay away from cute puns that only you understand. Dont use the word “Inc.” after your name unless your company is actually incorporated.
Posted on: Fri, 16 Jan 2015 07:16:09 +0000
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