You have
your business idea, you've conducted your market research,
your preparation is complete and now you are beginning to
get butterflies in your stomach from all the excitement that
comes with starting your own business. So what's next? The
Name.
You should start considering names for your company in the
beginning stages of the development of your business. Use
a serious name for a serious company and a fun name for creative
company or a company that markets towards children. But keep
in mind that the name of your business must earn the attention
and trust of your potential customers.
While
selecting your company's name, bear in mind the qualities
you would like your company to portray. If you want to represent
a very aggressive, high tech, corporate and cutting-edge company,
you should not come up with the name like 'Sloopy' or 'Scroochy'
.
Important Points to Consider In Name Selection:
• Shorter is better. It is easier to remember names like
LogoBee or Nike as opposed
to 'Kransferst Bayer Colombo Association of Michigan'.
• Make sure the name is easily pronounceable. It's very
hard to pronounce 'Shmakhtnik', 'Kchichkus' or 'Xsassassas'.
• It may be helpful to have the name associated with
your company's philosophy. For example, a strong solid company
should use a strong, bold name such as 'Bamm,' 'CastleDom,'
or 'Gong.' A high-tech company could use a more creative name
such as 'Ampex,' 'Freebee,' or 'Ciriu'. Design companies can
use even more creative names such as 'Venturius,' 'BlueFrog,'
'BlackInc.'
• Try to relate the company name to the field of business.
For example, a food company - 'Bacon House,' an office supplier
- 'BluePin,' a construction company - 'GoldenBrick.'
• Create a recognizable image. Come up with a meaningful
name by combining nouns, adverbs and adjectives such as: 'Penguin
Solutions,' 'Flying Frog,' 'Walking House,' or 'Yellow Pot.'
• Do not forget your business's target market. Home insurance
companies target a more mature market. It would be absurd
to use a name like 'HipHop BangBang Solutions.'
• A good way to test out your company name is to tell
it to your friends and ask them if they remember the name
in a week.
Overview