What is in a Business Name? The answer is: a lot. This is because to a large extent and depending on the level at which you operate, your business name could actually make or mar your business success. Your business name is a marketing tool.
Therefore before you decide on a business name, use these essential tips to ensure that whatever name you eventually decide upon, is the most appropriate or desirable for your business.
The era of Chidiebere and Sons or Igwe and Brothers is gone! In today’s business world, your registered business name should do more than just give your business a legal status. Depending on what you want, here are four key questions to help you choose the right business name:
Is Your Business Name Simple?
Is your business name simple and easy to spell and remember? Your business name should be simple enough for people to pronounce, write down and remember. This will help to boost customer loyalty, referrals and recommendations; and make future branding effort easy. It is easier to create a brand name from a simple business name than from a long and complex one. Your business name should not be difficult to spell or memorize.
Does Your Business Name Tell a Story?
Does your business name tell a story or paint a picture? Your business name should give an idea of what the business is all about. A prospective client or customer should be able to figure out what you do without having to ask. For example the name Before40 Youth Foundation gives an idea that this must be something for the youths, especially those yet to attain 40 years of age. Your business name should be a pointer to the objectives, purpose or benefits of the business; but should not limit your ability to diversify in future. Your business name should not be ambiguous; it should make sense.
Does Your Business Name Arouse Emotions?
Does your business name arouse emotions in prospective clients and customers? What or how do people feel when they hear your business name? Your business name should evoke positive emotion or reaction from your target prospects. For example the brand name Before40 makes youths (especially those approaching 40), excited (or even anxious!) and want to know more about the business. Your business name should appeal to your target prospects.
Is Your Business Name URL Available?
Will you be able to create an internet presence using your business name or brand? In today’s business world, almost every business needs an online presence. If you are thinking in this direction, then you need to ensure that your business name is available for your online presence. If online presence is a must for your business, or you operate an internet business, then you must ensure that your business name or brand name has not been taken.
In summary:
Your business name should be simple and easy to pronounce, spell, remember and memorize.
Your business name should tell a story or paint a picture that points to the core purpose and benefits of the business; but should not limit your ability to diversify in future.
Your business name should arouse the right emotions amongst your intended prospects.
Your business name should be brand-able. It is a marketing tool.
Your business name should have internet url (universal reference locator) availability.
Use these essential tips to come up with a Business Name that is short, unique, catchy, emotive and memorable; and helps your business sell.
Stay Smart, Wealthy and Wise!
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© Jay Onwukwe
