Winning the Name Game

Have you toyed with different ideas for your business name? Of course you have. For one thing, it's a fun way of getting closer toward making your entrepreneurial dream a reality. Plus, the name you give your business will represent every product or service you offer. Not only that, but it will probably appear in a number of places: business cards, signs - even hats and T-shirts. So get out a pen and a pad of paper to use as your naming notebook, and start writing down ideas for names. Be sure to ask friends and family what they think of your ideas. Be sure to put yourself in the shoes of your customers. What do you think will appeal to them? And as you go along, think about our guide to naming, which you'll find below. Ask yourself key questions about the names you like The name you choose affects how other people will see your business, which is why some names will reveal themselves as being more appropriate than others. As you go through name possibilities, ask yourself these questions about the names you're considering: <ul> <li>Are they distinctive and memorable? This doesn't mean that descriptive business names like "Emma's Secondhand Pastries" or "Tahoe Bowling Ball Repair" can't be used. If you're providing a service that's unique to a particular area, a descriptive name may work just fine. </li> <li>Are they easily spelled and pronounced? This is something many business owners don't think about. If you try to be too clever here, you may outsmart customers and keep them from finding you in the Yellow Pages and on the Internet. </li> <li>Do they suggest the products and services you offer? Everyone knows what Nike and McDonald's provide, but once upon a time these companies included phrases like "running shoes" and "hamburgers" after their business names. </li> <li> Will they distinguish you from the competition? Do the businesses competing with yours have similar names? Surprisingly, this happens a lot. You'll do yourself a big favor if you can decide on name possibilities that will make your business seem like a lone red rose standing in a yard filled with mud. </li> <li>Do they have the potential to be appropriate for new products and services you may offer later on? Think of names that will give you some growing room, even if it's just within the area you will do business. </li> <li>What works - or doesn't work - for other businesses in your field? Maybe your competitors have silly names, but then again, maybe not. Take a look and see what seems to attract customers.</li> </ul> Different kinds of names have different kinds of impact Essentially, there are five different kinds of business names, each with advantages and disadvantages. No single kind of business name is better or worse than others, it just depends on how you want people to see your company. Descriptive names get the point across - but can be limiting. For example, names like Toys R Us, Southwest Airlines, and Jim's Tank Parts. These names immediately let everyone know what kind of businesses these companies are. There are three main disadvantages to these names. First, they may not be memorable. Secondly, they can sometimes be easily confused with other businesses. Thirdly, what happens if the owner of Jim's Tank Parts decides to expand into something unrelated to the original business concept - like interior design? If you decide to be descriptive, do so when you're pretty sure you're going to concentrate on one kind of business for a long time. Geographic names put your company on the map- but may get in the way of expansion. Geographic names like "Lakeville Lint Extraction" or "Syracuse Zoo Cleaning Services" are great ways to let customers know where a particular business is located. Plus, this can give the impression that a company is the best at what it does in its location. But like descriptive names, using geographic terms can be limiting for a business. Suppose Syracuse Zoo Cleaning Services opens up offices in nearby cities like Rochester, Utica, and Watertown. A customer flipping through the Yellow Pages in one of these cities can't be faulted for concluding that Syracuse Zoo Cleaning Services is too far away for consideration - even if the company has offices in these places. Suggestive names can capture the essence of a business - if done right. Many successful business names aren't completely descriptive but rather suggest the benefits of using a particular company. A name like "A Breath of Fresh Air" could be used for a retail store specializing in soaps and scented candles - just as it could be used for a company that issues bail bonds or another that provides septic tank pumping services. Potential problems for these kinds of names? Some businesses forget that these names really need to suggest something appropriate - whether it is a service, product, or benefit. For example, a name like "Slow Burn" might work for a restaurant specializing in barbecued dishes, but probably wouldn't be appropriate for a store that sells stationery. Plus, with a less descriptive name, you'll need to think carefully about your tag line, such as in "Blue Sky Consultants-unlimited creativity for special events and corporate functions." Names with combined words can also get the point across - if it's the right combination. The name of a company that plants lawns might call itself "FasTurf." But sometimes businesses make the mistake of combining words in a way that make the company name sound, well, phony - or even worse, like a problem. That's why the owner of a cleaning supply business would be advised to shy away from a name like "InSolvent." Imaginative or fanciful names can make a business stand out - hopefully for the right reasons. It's not always necessary to have a name that is either descriptive or suggestive. For example, "Acura" is a made-up word, but it makes you think of other words, like "accuracy." Then there are names like "Kodak," which doesn't sound like anything related to photography, but stands out. The problem with these names is the potential to end up with one that sounds goofy. Try to avoid names that sound strange or are just too obscure. Sure, you might know that Andhrímnir was the mythical chef for the Norse gods, but that doesn't mean this odd name is appropriate for your catering business.] Don't skimp on the name possibilities - and get honest advice Fill up several pages of your naming notebook, and remind yourself that every naming idea, no matter how silly, may lead to something great. So don't censor yourself. But do be sure to get honest feedback from friends and family. After all, you want to make sure your business name rings true with as many people as possible. Article from www.jump.com: JumpUp is a free website and community from Intuit that helps new businesses get up and running successfully 2008-04-09T16:16:34Z

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How to pick the right name for your business.

Winning the Name Game

2009-02-24T09:43:46Z