What you call your business -- or your product -- can make abig difference in terms of how the marketplace responds to you. Should you have a family name like Smucker's, a serious name like Econoline, a "meaningless" name like Xerox? Or, should you simply go for good placement in the yellow pages and call your company A.A.A.A. Services? Is It Broad Enough?


To effectively name your business, you first need to firmly establish what business you're in. Be cautious though. You don't want to limit opportunities for future growth by being too specific about your company's purpose. For example, suppose you're starting a new business that specializes in lawn care services. You decide to name your company "Lenny's Lawn Care." Now, suppose that a few years down the road you wish to expand and offer corporate plant care services. "Lenny's Lawn Care" is no longer a very apt name for your company. It's not a name that would attract the new type of clientele you seek.

Consider the long-term potential of your company and the ways in which your company might grow. Once you've established a name it can be difficult to change that name to provide a new direction -- and costly in terms of the lost recognition you've established for your original name.


Is It Narrow Enough?
A caveat is in order here though. Don't be so broad with your business name that you fail to establish a market niche for your services. In today's specialized marketplace, the companies that are most successful are those that cater to specific market segments -- and identify, through their company name, the segment that they serve. Your name should be specific enough that it clearly conveys to potential customers that, "yes, this is the company I'm looking for."

For example, if you own and operate a boutique, you don't want to simply name the business "Bev's Boutique." You want a name that will indicate to customers the types of products you sell. A name like, "Bev's Botanicals" might be appropriate if you specialized in dried floral arrangements -- and would allow you the option of expanding into other plant-related services, oreven the sale of scents or potpourris.

Narrow names can also be effective when you're certain ofthe niche you wish to serve and confident that you will not want to expand beyond that niche. Consider, for instance, the well-known names of some narrowly-defined restaurant chains: PizzaHut, and Kentucky Fried Chicken (more on this one later). They've defined their specialty and, as consumers, we know that if we want pizza we go to Pizza Hut -- not Kentucky Fried Chicken (or vice versa).

How Does It Sound?
The name you choose for your company will be used in a number of ways. It will be used in print -- on your store front sign, billboard, in print advertising, on your letterhead, etc. It may be used verbally in radio or television advertising. It will certainly be used verbally in word-of-mouth exchanges between potential customers or clients. How your name sounds is a critical consideration, even if you never plan to use radio or television to advertise your wares.

When we read, we "hear" in our minds the word we're reading and we respond most to names that "sound" good.

Many small businesses decide to use their family name aspart of the company moniker. This is often done for ego gratification purposes. Nevertheless, it's not a tremendous downfall -- unless that name is difficult to pronounce or "ill-sounding." For example, a name like "Pfefferneuse, Inc." would be a mouthful. How would customers refer you to their acquaintances if they could barely pronounce the name. Strange sounding or off-putting names can be problematic as well.


Is It Memorable?
Memorability relates back to appropriateness -- and assuring that your business name clearly reflects the business you're in. A name like "Toys R Us" is memorable -- and appropriate to the product sold. So is a name like "Computerland."

Simple names can often be more memorable than more complex,or clever, titles. Don't try to be too "cute" -- or too unique. Use the KISS principle; keep it short and simple.

There are some practical that also come into play when considering a business name. Considerations such as how the name will look on a letterhead, or what type of logo could be designed incorporating your business name. Don't "carve the corporate name in stone" before you've taken the time to consult with a graphic designer. Also, choose a logo or design that will look as good in a black and white newspaper ad as it will in a color layout.

The designer will be able to tell you if the name you've selected will lend itself to various layout applications -- signage, letterhead, etc. If you can't afford an established graphic designer, consider working with a student at a local art or design school. They'll likely be willing to create the design in exchange for using it in their portfolio.

Is It Lasting?
We certainly can't predict the future, but give some consideration to the longevity of the name you select. Kentucky Fried Chicken recently went through a modification of their nameto position their product for a growing society of health conscious consumers. They've changed the name to simply "KFC"which, long term, may shift some awareness of the fact that thechicken is fried -- for consumers today, however, that acronym still means "Kentucky FRIED Chicken."

Try to be somewhat forward-thinking as you name your business, considering the changing climate we're in, and emerging consumer issues. Avoid names that could be controversial, or which may have negative connotations.

Let's take a look at an example -- a business that provides communication services for medical personnel, specializing in the development of newsletters for clients. The company decides to name itself "MedLines."
  1. Broad enough?"MedLines" suggests information (lines) concerning medical
    topics. If the business has truly chosen the medical profession as its niche, this name will be broad enough to deal with many areas of the medical profession -- from general health services,to HMOs, encompassing any number of medical specialties.

    However, if the company were to expand into other areas of communication -- video, for example -- the term "lines" could create some concerns. It doesn't suggest a visual approach to communication and may also limit the company from successfully expanding into electronic communications.
  2. Narrow enough?Implying a specific niche in a business title is
    appropriate. This business name clearly suggests that the company is specializing in information for audiences concerned with medical topics.
  3. How does it sound?"MedLines" is easy to say, short and to the point.
  4. Is it memorable?"MedLines" would be a memorable name for a communications
    firm -- it's specific, clearly identifiable, and related to the service provided.
  5. Is it easy to use?This name is short enough to lend itself to creative use in
    a logo, or business sign. In addition, the name would be listed in the yellow pages near other medical services, an important consideration for this type of company.
  6. Is it lasting? A name such as "MedLines" would appear to be a lasting name
    for a business, with no short-term controversy apparent.
Additional Considerations
Don't name your business in a vacuum. Involve a number of people in the process. Ask friends, acquaintances, business colleagues, and members of your professional network for their reactions to the name or names you've selected for consideration.

Avoid legal problems. Obviously you can't open a hamburger stand and call it "McDonald's" -- even if that's your family name. Before you hang your business sign, be sure that you've chosen a name that does not duplicate any other existing company name -- or that comes too close to another name. Some easy ways to check for this are the yellow pages, the local library, or an attorney who can help you conduct a name search. This is particularly important if you're planning to trademark your name. Remember, you want your business name to be uninfringeble as well!

Once you've chosen a name, stick with it. If you constantly change your mind -- and your business name -- you'll lose any name recognition that you've established. Take the time to choose a name you can live with, a name that will be memorable and meaningful.

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