By Marvin Ng

It is interesting to observe a common mistake committed by some entrepreneurs – putting too little effort in choosing a name for their businesses.  You work hard planning the business, starting it up, and nurturing it, hoping that to see it grow into a successful enterprise some day.  In a way, the business is like your child.  And just as you would make an effort naming your child, you should take the same care in coming up with a name for your business.

A good business name is critical.  It creates a memorable business image and is an important first step towards building a strong corporate identity, one that should last the lifetime of the business.   

Coming up with a meaning name takes time and effort.  However, the following guidelines should make the process less painful.

Generating the Names

Brainstorming is a great way to generate business names.  Read “Generating Ideas Through Brainstorming’ in Issue #2 on how to conduct a brainstorming session.  Here are some questions to help get that brainstorm brewing:

• What are you selling?
• Who are your clients?
• What are your clients looking for?
• What are some catchy phrases you can use?
• What is the business image you want to depict?

Meaningful

The name should ideally reflect key elements of your business as it is often the first thing someone else knows about your business.  It is an important marketing tool and should therefore convey qualities and characteristics (of your business) that you want others to remember.  You should avoid vague names by thinking about the key focus of your business. 

For example, if you are starting a computer repair business and want to convey the speed and efficiency of your services, a name like “Speedy PC Repair” will be more meaningful than “ABC PC Repair”. 

Simple

The name should be easy to understand, spell, pronounce and remember.  A name that is easy to understand and repeat will get passed along more easily by word-of-mouth.  A simple but unusual name can also become a memorable business name once people have it in their minds. Furthermore, shorter names are usually more memorable. 

Longivity

Think long-term.  Choose a name that is broad enough to accommodate the growth of the business and yet narrow enough to communicate the focus of the business.  For example, the name “Speedy PC Repair” can limit the business if it wants to expand into related areas like sales of computer peripherals.  It is also important to ensure that the name will outlast current fads or trends.

Unique

Avoid names used by another business.  It is therefore a good idea to prepare a list of three or four alternate business names when you go to register your business, in case your first choice is taken.

Make the name creation and selection fun by getting your family and friends involved.  Choose a name provides a good image and communicates your business clearly.  Most importantly, make sure you like the name because it will be with you as long as you are in business! 

COPYRIGHT(C) 2002 By Marvin Ng

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ABOUT THE AUTHOR:

Marvin Ng provides how-to advice on start-up and business issues.  Visit http://www.startupcafe.com to get useful start-up advice and interesting business ideas.  Become a subscriber of our online e-zine and draw inspiration and ideas from the stories of other seasoned entreprenurs.  mailto:subscribe@startupcafe.com