Picture by Jack Dorsey via Flickr
Choosing a good business name is important not just for the legalities of operating a business, but also for making sure your prospective buyers choose you instead of your competitors.
Some experts say that your business name is the first thing that any potential customer will notice and is therefore more important than your sales pitch or even your end product.
I wouldn’t necessarily go that far, but it is certainly true that the name you choose will strike either the right – or wrong – tone with your potential customers.
Successful organisations don’t just invest in developing good names, they work hard to develop a brand name. Because, over time, a brand is capable of doing the selling for you…
People remember a good business name. So what does yours say about you?
A lot of ‘modern’ business names either use the name of the person (if it’s a consultant, for example), which is fine, or they play on words.
I’m not a huge fan of using a play on words in a business name. My feeling is that it doesn’t make the name any more memorable (which is presumably the intention), and it can look a little on the conceited, self-important side.
Another mistake is putting the personal element in a business name. You’d do a LOT better if you chose a name that immediately gets across what you sell or do, and perhaps how you stand apart from the competition.
Speaking personally, if I were to choose my own business name again, I would choose something that adds more of a perceived value, without being ‘cutesy’ about it.
A good business name should be short, unique, memorable, distinctive, catchy and, more importantly, easy to remember and to spell!
When you do settle on a name, make sure you do a search on the internet, just to make sure you are not unintentionally offending someone – often words translated into a different language or culture can really mean something else! Finally, make sure you always consider the legal ramifications of your chosen company name.
If you want professional help with finding and selecting the right business name, just let me know. Prices start from just £97 for up to five original names from which to choose.
Copyright, T L Smith. All Rights Reserved.
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