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Naming a Business: What’s in it for you?

Naming a business: The Name Game

When you’re naming a business you need to start by deciding what your name will communicate. The most effective names reinforce key elements of your business. Your work in developing a niche and mission statement will help you to identify the specific aspects of your business that you want to emphasize.

When naming a business in the retail area, you would want to identify the specific market involved. You would want to quickly convey what the customer would be receiving when they visit your retail establishment. If you have an upscale store selling high-quality foods, you would want to convey that impression to your customers. The name combined with the logo would be important in communicating this impression. So, obviously, the first and most important step in naming a business is deciding what your business is or what it will do.

Most experts believe that when naming a business, the name should be meaningful. The more specific the information is, the less effort you must exert to explain it. Alan Siegel, chairman and CEO of Siegelgale, an international communications firm, believes name developers should give priority to real words or combinations of words over fabricated words. He explained that people prefer words that they can relate to and understand. Naming a business with names which are too narrowly defined, geographic names or generic names are usually common pitfalls.

Appropriately naming a business also includes understanding the future desires and opportunity for growth, and how they will be effected by the company name. If you have ambitions for growth or expansion, the name of your business should be broad enough to accommodate the growth.

Before naming a business you should start thinking about names for your company which define the qualities that you want your company to be identified with. If you’re starting a hearth-baked bread shop, you might want a name that conveys freshness, warmth and a homespun atmosphere. You may immediately see that names like "Kathy’s Bread Shop", or "Arlington Breads" will communicate none of these qualities. But, the name, "Open Hearth Breads" conveys a message of homemade, hot bread, just out of the oven.

Naming a business is much more than just a creative venture. It may set the stage for your entire marketing strategy, as well set parameters for future growth and development.

Information from Start Your Own Business by Rieva Lesonsky

The web page and Start Your Own Small Business Course by Paul Susic MA Licensed Psychologist Ph.D. Candidate CEO/President Susic Psychological Consulting P.C.