Sep 12, 2013
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The Importance of a Name
When it comes to starting a business in today’s market, the name of your business can have a huge impact on initial and long term success. There are many ideas and theories about how to name your business and what kinds of names are best. While there is no set-in-stone way to name any business, some of the tips below can be useful when deciding to create an identity for your goods or services.
Proper Communication
The name of your business will almost always be your very first line of communication between yourself and your clients or customers. Picking a name that communicates properly to your target audience is paramount to success. Your name should reinforce the goal or mission of your business while being unique and memorable.
Be Clear But Not Too Specific
One pitfall that commonly occurs when naming a business is being too specific with your name. For example, “Springfield Hard Drive Repair.” This name might work great as you start up a small business repairing hard drives in Springfield, but what if you decided to start repairing computer screens too? What if you want to expand to another town? How much will the name “Springfield Hard Drive Repair” mean to someone who is looking to have their screen fixed, or to someone who has no ties to Springfield? Factors like these are important to keep in mind as you plan for the future of your business.
A Few More Things to Keep in Mind
Do Your Research
Once you have a name or a few names you like, your job is not over. It is important to make sure that the names you like are not already taken. Infringing on someone else’s trade name can open up a legal can of worms that is likely to bankrupt a small, start-up business. If you do not have the ability to do thorough research on your own then hiring a trademark attorney or a trademark search firm is a wise investment. Doing so can save you a lot of time, money, and trouble in the long run.
How did you find a name for your business?