When you start a new business, choosing the right name is the first and singularly most important thing to do and it is the basis for successful marketing. If you want to put the odds in your favor when naming your business, choose wisely. Remember the scope of where your business name is seen goes beyond the narrow geographic range of yesterday to worldwide today… thanks to the Internet.
Elements to include in creating a business name follow, the name should:
- Define what your business is and what it does
- Tell people about your values
- Speak to the quality of your products and/or services
- Consider the role that your business name plays in your domain name, search engine rankings and positioning on the worldwide web
Note: A tagline (aka slogan) is always helpful to further define your business name.
The Wrong and Right of Business Names
- Hope Home Inspections – are you supposed to “Hope” that your house will pass inspection? Hope may be the owner’s last name but, in this instance he/she may want to reconsider using their last name for the business. Gauging reader perception could have helped here.
- Jane Doe, Consultant – too many entrepreneurs decide to become consultants and use the word consultant next to their names. What you do should not be left to guesswork a tagline that defines the business is needed.
- Hammered Liquor Store – really? Talk about bad positioning.
- Sherril’s Eat Here and Get Gas – well they used a tagline but who really wants the end result?
- Carrier Landscaping – the business name
We Speak Green – the tagline
“The grass is greener on our side” – a value added statement
- Hilliard Communications – business owner name with services added
Newsletters Plus –tagline implies business offers a range of writing/communications services
Surprisingly, when entrepreneurs decide to go into business they fail to see the end game. Instead what they see is that they have a viable product, service or idea –and getting it to market takes precedence over the name of the business. In reality, much is riding on selecting the right name for your business and choosing wisely could spell success or disaster. Can you do it yourself? Yes with the right tools and approach. However, if you are so focused in developing your business, your money could be well-spent in working with a marketing specialist to create a business name that will set the path to a building a strong brand and market position for your business.