Entrepreneurial Tips: How to Name Your Small Business Properly
What’s in a name? Shakespeare made this phrase famous in his popular Romeo and Juliet play. Today, entrepreneurs find themselves asking the same question when starting their own businesses. Choosing the right name can mean the different between being the talk of your industry and a dooming failure. Today, we discuss how to name your small business in order to capture the attention of your target market.
Tips to Name Your Small Business Effectively
Ideally, you want to choose a name for your company which:
- Expresses your brand’s expertise
- Conveys the value of your service of product
Here are some of the various tips various small business experts share when it comes naming your company:
- Your small business name should be abstract
- The name your choose should be informative
- Business names should be coined from made-up words
- Small business names should be unforgettable
With so many different types of advice, who do you listen to these days? Well, any name can have the desired effect, as long as it’s backed up by a good marketing strategy.
What’s in a Small Business Name?
First of all, you need to decide what you want to communicate to your target market with your small business name. It should highlight your company’s key elements. Also, make sure when you name your small business, it reflects the company’s mission statement.
Consider these five tips when choosing to name your small business effectively:
- Choose a name that captures the attention of your target customers.
- Make sure the name is familiar, or raises positive memories in the minds of your customers.
- Don’t choose a name for your small business that’s too confusing or too long.
- If your company name includes a cute little pun, make sure you’re not the only one who “gets” it.
- Never end your company name with “Inc.”, “Incorporated” or “Corporation” unless it’s actually incorporated.
Once you’ve chosen a name for your small business, start marketing it online immediately. Choosing to name your small business properly is the first step to a successful venture. Marketing it properly is the key to success.