HOW TO START A BUSINESS : Choosing Your Business Name

Keep in mind the availability of a domain name when choosing your business name. Also ask a friend or relative to help you brainstorm.

Naming a business, brand, or product is a creative process. There are people who are really good when it comes to finding the right combination of words to capture both the essence of your brand and the public's imagination, says Steve Cone, executive vice-president of Epsilon.

"Whatever you do, don't use committees or focus groups to find a name. That could kill your company before you get started."

With the importance of the Internet to your marketing plans, you should also consider the availability of Web site domains as you are selecting a business name, says Michael Weiss, CEO of imagistic, a digital marketing and technology firm. "You have the luxury of naming your company and choosing your URL at the same time. Many companies have been named because the URL was available," he notes.

Make your company name stand out
Your main goal is to establish something different about your new business that makes your service distinct from other clothing consultants, Cone says, and capture that in your company name, tagline, and/or slogan. "Whenever possible, a business name should have personality and attitude. It needs to convey the unique selling proposition of your firm".

Check the dictionary and thesaurus for company name ideas. Synonyms, keywords, and translations of your major concepts can help suggest a clever, memorable business name. "Focus your attention on the shortest, easiest-to-spell synonyms," he says. "Ideally two syllables and no more than eight letters."

Avoid common words and phrases, Cone warns: "So many names, slogans, and taglines are overused words like "life", "power", and "promise" that don't mean much."

source: http://www.businessweek.com/smallbiz/content/jan2010/sb20100121_356621.htm

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