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Selecting The Right Business Name
by QualityBooks.com © Copyright.

Ask 500 people already in business how they decided upon their business
name and you will get 500 different answers. Everyone has a story
behind how they chose their own business name. Even if the business is
named after their own birth name, there's a reason why this was done.
When you open a business, in a sense, you are causing a new birth to
begin. This new birth was created from an idea alone by you or your
associates. It will have its own bank account, it's own federal
identification number, it's own credit accounts, it's own income and
it's own bills. On paper, it is another individual! Just as if you were
choosing a name for your own unborn child, you need to spend conside-
rable time in deciding upon your business name.

There are several reasons why a good business name is vitally important
to your business. The first obvious reason is because it is the initial
identification to your customers. No one would want to do business with
someone if they didn't have a company name yet. This makes you look
like an amateur who is very unreliable. Even if you call your company
"Kevin's Lawn Service," a company name has been established and you are
indeed a company. People will therefore feel more comfortable dealing
with you.

Secondly, a business name normally is an indication as to the product
or service you offer. "Mary's Typing Service," "Karate Club for Men,"
"Jim-Dandy Jack-of-all-Trades," "Laurie and Steve's Laundry," "Misty's
Gift Boutique," and "Star 1 Publishers" are all examples of simple
business names that immediately tell the customer what product you
offer.

However, most people will choose the simple approach when naming their
business. They use their name, their spouse's name, their children's
names or a combination of these names when naming a business. The
national hamburger-restaurant chain "Wendy's" was named after the
owner's daughter. However, research has proven that these "cutesy"
names are not the best names to use for a business. Many experts claim
that it makes the business look too "mom-and-pop-sie." However, this
depends on the business. If you are selling something that demands this
mood or theme to appeal to your market, it's best to use this approach.

Personally, I am inclined to name my businesses with catchy names that
stick in people's heads after we have initially made contact. Names
like, "Sensible Solutions," "Direct Defenders," "Moonlighters Ink,"
"Printer's Friend," "Strictly Class," "Collections and Treasures," and
"Starlight on Twilight" are all good examples of catchy names. These
types of names relate to your product or service but serve as a type of
slogan for your business. This is a big help when marketing.

A friend I know owns a business called "Mint and Pepper." He grows and
sells his own line of raw seasonings to people in the local area. At a
get-together for small businesses, he passed out his business card. The
card had a peppermint candy glued on the back and the slogan read:
"Your business is worth a mint to us." This marketing concept not only
got my friend noticed and remembered, but brought in several large
orders for the business.

When you name a child, you may not decide upon a definite name until
after they are born. You do this because a name is sometimes associated
with a type of personality. When you name a business you may need to
wait until you have a product or service to sell and then decide upon a
business name before going into the business itself because your
business name should give some clue as to what product or service you
are selling. A business named "Joe's Collections" normally wouldn't
sell car parts and a business named "Charlie Horse" would not sell
knitting supplies.

To generate ideas - begin looking at business signs everywhere you go.
Notice which ones catch your eye and stick in your mind. Try and figure
out "why" they stuck in your mind. Naturally, the business "Dominos
Pizza" sticks in your mind because it is nationally known. These don't
count! Look around and notice the smaller businesses. Take your time.
Within a few days you should be able to come up with a few potential
business names.

Then, when you finally find a few names you really like - try reciting
them to other people and get their opinion. It won't be long until your
business will have the proper name that will carry it through it's
life!

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