The importance of a strong business name
Naming your company may be the most important step you can take when starting your own business. A good name versus a bad one can make all the difference between whether a company succeeds or fails. A company with the best products and services will struggle to succeed if it has a bad name. A good name resonates with audiences and is the first and most crucial component of your marketing strategy.
So how do you come up with an attention-grabbing name that will one day grace the cover of BusinessWeek and penetrate the general consciousness like Google, Coca-Cola or Nike? The Entrepreneur book "Start Your own Business" discussed this idea in great detail and shared some valuable insights into how to name your company. The central theme behind its advice is simplicity.
"Start by deciding what you want your name to communicate," the book says. "The more your name communicates to consumers about your business, the less effort you must exert to explain it. According to naming experts, entrepreneurs should give priority to real words or combinations of words over fabricated words. People prefer words they can relate to and understand. That's why professional names universally condemn strings of numbers or initials as a bad choice."
To make sure you capitalize on your great business name, you have to incorporate it. Learning how to incorporate will help legitimize your company and its name and put you in position to succeed. To learn about incorporating your business contact us today and get your idea, your business and its name moving in the right direction.