Naming a Business Yourself
What’s in a name? Many, when it comes to small business success. The real name can make your business the talk of the town. The poor can condemn darkness and failure. Ideally, your name should convey the expertise, value and uniqueness of the product or service that has developed.
Some experts believe that the best names are abstract, a blank slate on which an image is created. Others think that the names should be informative so customers know immediately what is your business. Some believe that invented names (which just invented words) are more memorable than names that use real words. Others think they are easy to forget.
Actually, a name can be effective if it is supported by adequate marketing strategy. This is what will have to consider in order to give your small business the most appropriate and effective name.
Enlist Expert Help to start
Coming up with a good business name can be a complicated process. You can consult an expert, especially if you are in an area where the name of your company can influence the success of your business. naming companies have developed for creating new names systems and trademark laws are well known. You may advise against bad choices of names and why others are good.
The disadvantage is cost. A professional nomenclature may charge up to $ 80,000 to develop a name. This usually includes another identity and graphic design work as part of the package, according to Laurel Sutton, a principal with keywords Brand Development. services that charge as little as $ 50 Naming exist, but spend a reasonable amount of money early to get expert advice as you can save money long term.
What’s in a name?
Start by deciding what you want your name to communicate. It should reinforce key elements of your business. His work in developing a niche and a mission statement will help you identify the items you want to focus on your behalf.
The more your name is communicated to consumers about your business, the less effort you have to exert to explain. According appoint experts, employers should give priority to the words or combinations of words made of real words. People prefer words they can relate to and understand. That’s why professional Namers universally condemn strings of numbers or initials as a bad choice.
Moreover, it is possible for a name to be too important. the most common pitfalls are geographic or generic names. A hypothetical example is “San Pablo Disk Drives.” What if the company wants to expand beyond the city of San Pablo, California? What sense this consumer name in Chicago or Pittsburgh? And if the company diversifies beyond disk drives in the instruction manuals or software?
How a name can be significant and wide? Descriptive names say something specific about a company – what it does, where it is and so on. The suggestive names are more abstract. Focus on what the business is about.
Consider “Italiatour” a name that was developed by a naming company to help promote tour packages to Italy. Although this is not a real word, the name is important and customers can immediately recognize what is offered. Better yet, “Italiatour” evokes the excitement of traveling abroad.
When choosing a business name, keep the following tips in mind:
Choose a name that attracts not only you but also the kind of customers who are trying to attract.
Choose a reassuring or familiar name that evokes pleasant for customers to do their business on an emotional level memories.
Do not choose a name that is long or confusing.
Stay away from games of nice words that only they understand.
Do not use the word “Inc.” after your name unless your company is actually incorporated.
At a time when almost all existing words in the language is a trademark, the option to fight a name is becoming more popular. Some examples are Acura and Compaq, which were developed by which NameLab appointing cabinet.
Invented names may be more important than existing words, says President NameLab Michael Barr. For example, “Acura” has no definition in the dictionary, but the word suggests precision engineering, as well as the company intended. The NameLab team created the Acura name “Acu” a “specific” word segment, which means in many languages. By working with segments meaningful words (what linguists call morphemes) as “Acu” Barr said, the company produces new words that are important and unique.
Barr admits, however, that the words made are not the right solution for every situation. New words are complex and can create a perception that the product, service or business is complex, this can not be true. In addition, beginners might find names such strikes beyond their capabilities.
A simpler solution is to use new forms of existing words or spelling. For example, the Compaq name NameLab created when a new computer company came to them to promote his new laptop. The team thinks the word “compact” and came up with Compaq, which in his view would be less generic and more visible.
Test your name
Once you have narrowed the field to four or five names that are memorable and expressive, you are ready to do a trademark search. Not all trade name must be a registered trademark, as long as the state government gives the green light and is not infringing trade name of another person. However, you should consider hiring a trademark attorney or at least a brand research company before making your new name does not oppose the trademark of another company.
To illustrate the risk that if you walk on an existing brand, consider this: You are the owner of a new manufacturing company is about to send its first orders when an obscure company in Ogunquit, Maine, considers company name a violation of their trademark. He is involved in a legal battle that ruins your business. It could have been avoided had sought the help of experts. The extra money you spend now could save countless hassle and expense further down the road.
The final analysis
If you’re lucky, you’ll end up with three to five names that pass all tests. Now, how do you end your decision?
Let us all remember their initial criteria. What name is better set your goals? What name more accurately describes the business you have in mind?
Some entrepreneurs come to a final decision to go with your gut or testing or consumer research with focus groups to see how names are perceived. You can scribble an idea of ??what each name will be seen as a sign or business stationery. Read each name aloud, paying attention to how it sounds if you expect radio advertising or telemarketing in your future. Use any or all of these criteria.
Note that nomenclature professional companies spend between six weeks and six months in the appointment process. You probably do not have much time, but plan to spend at least a couple of weeks in the selection of a name.
Once you have made your decision, start building your enthusiasm for the new name immediately. His name is the first step towards building a strong identity of the company, which should last as long as you’re in business.