Creating a Business Name
What’s in a name? For small businesses, the answer is “Plenty!” A good business name is vital for several reasons:
- It’s the first impression you make on a customer.
- It dictates your brand. Remember, your business name appears on your marketing, logo, brand colours, URL and online presence, product line and side projects!
- Changing your business name is difficult. Make sure it works for today and the future.
- The wrong business name can limit a company’s activities. For example, a company called Just Computers may lose prospects in the Blackberry market if people think they strictly deal with computers (as their name suggests). A bedding company called Canadian Dreams may eventually launch internationally, and then their name no longer describes their business properly.
Not putting enough thought into your business name may lead to problems but don’t spend too much time, either. Every day that you prolong moving forward with your dream is another day that you will have to wait for your first pay cheque. Can you afford this? There comes a time when you just have to take the plunge.
Topic Objective: Explore brainstorming and the “stuff” that makes a great business name!
Your Outcome: Decide on a great business name and move forward!