Naming Your Business? 5 Things to Think About
In any major U.S. city, you can’t go more than a couple of blocks without seeing a Starbucks. The name is so ingrained in our minds that—whether you’re a fan of the coffee or not—you know exactly what that Starbucks name stands for. When you start a business, it’s crucial to choose a memorable name that communicates what your business does.
You never know where a good name will come from: The founders of Starbucks chose the name of a minor character in Herman Melville’s novel Moby-Dick to emphasize their Seattle roots. Want a great name? Try these tips:
• Your name should convey your expertise as well as the value and uniqueness of your product or service.
• Don’t let your name limit your future. For example, putting your city’s name in your business name will complicate future expansion.
• Remember, looks matter. How will your business name look in a logo, on signage and in your marketing materials?
• Choose four or five possibilities and do a trademark search. Then conduct a casual focus group by asking others what connotations the name evokes.
• The advisory company Big Picture Coaching says it’s important to keep your name simple. And don’t forget to create a great tagline to go with your company name.