Monday, May 30, 2011

Name Game - Naming Your Business

I came across an interesting online article this morning on naming a business.

As soon as I saw the headline it made me think of domain names, and I wondered if domains would come up in the article.  They give a real-life situation of a business that was looking to change it's name and why, and there are some tips from a business naming agency on what to consider.

When you think of all the new businesses and start-ups that will be created in the coming years, and the naming choices and domains that will be available to them, you have to think it's almost gettig to slim pickings.  Not to mention being able to find a good Twitter username.

Some interesting points from the article were:

Management spent time brainstorming internally and, while they came close a couple of times, ultimately they couldn’t come up with a name that adequately fit the company’s vision.  Plus, the potential names they did come up with did not have the accompanying URLs available

your firm's name can boost brand equity, create valuable public relations and marketing momentum and ultimately drive sales

Your name is the first and most visible representation of your brand

many entrepreneurs fail to recognize that choosing a business name isn’t about themselves, it’s about the end user. If it doesn’t click with your customers, then it’s a wasted opportunity

Keep your name short and simple and easy to spell, Mr. Javed advises. You want your clients and customers to not only remember your moniker, but be able to easily look it up, online for example, and refer you to others

Another typical faux pas for entrepreneurs is naming the firm after themselves – unless it supports your brand position; think fashion designers (and real estate agents).

Your family name won’t distinguish you from a sea of others or inform customers of what it is you do.

An available domain name should be a key consideration when choosing a business name

Finding the ideal business name isn’t easy, and with more companies launching into the marketplace, it’s becoming harder to get that one name that will help you stand out from the crowd

You can read the full article here:


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