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Naming a Business: Does it make much difference? 

Naming a Business: An Overview 

Does it really make much of a difference to hire a professional when you're naming a business? Most experts agree, yes it does.  What’s in a name? A lot, when it comes to small business success.  Naming a business may result in your company being the talk of the town, or may doom it to of obscurity and failure.  If you're smart, you would put as much effort into naming your business as you did in coming up with your small business idea, writing your business plan and selecting a market and location.  Ideally, naming a business in an effective way, should result in conveying a sense of expertise, value and uniqueness to your product or service. 

Naming a business effectively, may be more difficult now than ever.  Many of the best names have already been trademarked.  However, naming a business appropriately is crucial to creating a memorable business image, particularly, with advertising costs and competition on the rise.  Naming a business effectively, may actually be the determining factor to make or break your business.

 There's a lot of controversy in relation to naming a business effectively.  Some experts believe that the best names are abstract, a blank slate upon which to create an image.  Others think that naming a business should involve an informative recognition by customers as to what your business is or what it does.  Some believe that coined names (names that come from made-up words such as Google) are more memorable than names that use real words.  Other experts feel that coined names are very forgettable.  In reality, naming a business effectively may be more related to having an appropriate marketing strategy to back up your business name, rather than having an absolutely "perfect name".

 When naming a business, some experts have recommended some of the following tips:  

• Choose a name that appeals not only to you, but also the kind of customers you're trying to attract.
• To get customers to respond to your business on an emotional level, choose a comforting or familiar name that conjures up pleasant memories.
• When naming a business, don't pick a name that is long or confusing.
• Stay away from cute puns that only you understand.
• Never, never, ever, use the word "Inc." after your name unless your company is actually incorporated.
•  When you’re naming a business, never use the word "Enterprises" after your name, as this term is often used by amateurs.

 In summary, this author believes the best strategy for naming a business is to choose a name that is relatively short, but highly descriptive of the type of product or service been promoted.  Also, naming a business in a way to stimulate an emotional response and an enhanced sense of unique benefits being provided is optimal. 

Some of this information provided by Start Your Own Business by Rieva Lesonsky 

Web page and Start Your Own Business Course by Paul Susic MA Licensed Psychologist Ph.D. Candidate    CEO/President Susic Psychological Consulting P.C.