Small Business Opportunities | The Perfect Company Name

Starscapes home-based business opportunity

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."

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.
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.
How does it sound?"MedLines" is easy to say, short and to the point.
Is it memorable?"MedLines" would be a memorable name for a communications
firm -- it's specific, clearly identifiable, and related to the service provided.
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.
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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