So you have a unique idea for a business venture that you just know will be successful. You’ve thought of everything: where you’ll be located, whom you’ll hire, how you’ll sell and it all comes down to the name. What will your new venture be called? Unfortunately, that’s where so many entrepreneurs miss the mark.
Inc.com offers 6 tips that can help you navigate the daunting task of naming your start-up. Follow these steps and you’ll be well on your way to a successful name that will serve your business through years of growth.
Watch out for sound-alikes. Sometimes trying to be cute and clever can end up confusing potential customers that cannot find your business because of the spelling. Inc.com uses “Phaser” as an example as customers may search for “Fazer” or “Faser” after hearing your business name.
Wait for the light bulb moment. It most likely took you more than a day to come up with your business plan. Why should the name of the company take less time? Brainstorm with business partners, friends and family or enlist the help of marketing professionals <insert shameless plug here>.
Let your name tell a story. While it’s not critical, it creates an image that is personal and memorable with your target customer. Just be careful that your attempt to tell a story doesn’t leave your start-up with a sentence instead of a name.
Make it personal. It is your venture after all. Give it a name that means something to you. If you find it meaningful, your customers are more likely to as well. Don’t forget, your business needs a personality, too!
Don’t be too practical. Just because you are making widgets doesn’t mean you have to have widget in your name. If there are 50 other widget makers in town, try choosing a name that defines why you are the best. Differentiating yourself from the competition is key. Create some interest.
Make sure you love it. You will plaster your company name and logo everywhere: business cards, website, social media, print materials, sponsorship banners, advertisements and quite possibly vehicles and t-shirts. You will say it every time you answer the phone, introduce yourself at a networking event or give a sales presentation. In short, it will be everywhere. You better love it!
To read the full article on Inc.com, click here.