Choosing a name for your new business is one of the most important decisions you will make. It should also be one of your first decisions. We’re going to provide you with some guidelines that will help you choose an appropriate name. Spending a little time now can save you a lot of time and money later on.
It makes sense that a company that offers a great service, idea or product will earn a healthy profit. The reality is that in today’s competitive world it is much harder to convince new customers to choose your business over that of your competitors.
What is the first thing a prospective customer will notice about your business? Your name! That is why it is even more important that your actual product or sales pitch. It doesn’t matter if you have a great idea or service, customers will end up visiting the competition if they don’t like the “look” of your company.
Your name distinguishes you from your competitors and is the initial point of contact with prospective customers; they will often make instant judgement on where they choose to spend their hard-earned money. That’s why it’s so important that you choose the right name that reflects the message your business is trying to convey. Successful companies develop a brand, rather than merely a successful name. When done properly, brands will begin to sell themselves.
Branding is much more than a familiar logo; it is also a memorable and appropriate name that will help individuals remember your company. You need to create a strong visual image so try to come up with a name that is simple and recognisable and properly reflects your business.
This may seem like an easy task, but that is not the case. You need to be taken seriously, but also distinguish yourself from your competitors. Remember that you will have to repeat your business name many times every day. Eventually, customers will come to know your company by that name so ensure it looks and sounds pleasing.
You can try experimenting during the initial stages. You may find yourself trying to be too clever and lose focus of your goals. The perfect combination includes effective branding and an effective business name. Many business owners choose their own name such as Dave’s Bakery, but this lacks originality.
Instead, try incorporating the name of the local area in your business name. Customers will often associate your company with a friendly public approach and solid local ties. Therefore, choosing a business name such as the Essex Bakery may be an effective choice. Customers will automatically perceive your business to be reputable and well-established.
You can also trying using a play on words or incorporating a bit of humour into the name. This will help you stand out from your competitors. Just make sure you avoid predictable or cheesy puns, and you choose a business name that actually conveys the image your business is attempting to convey.
The perfect business name is original and creative and will instantly inform customers about the type of service or product you offer. You want to make your company stand out from the crowd, while also choosing a professional and trustworthy business name.
