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. Choose a name that works for today and for the future.
- The wrong business name can limit a company’s activities. For example, a company called Just Computers may lose prospects in the iPhone 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 choosing your name, either. Each day that you delay moving forward with your dream is another day that you must wait for your first pay cheque. Can you afford to do this? One day, you’ll just have to take the plunge.
Topic Objective: To explore brainstorming and the “stuff” that makes a great business name!
Your Outcome: A decision on a great business name and a plan to move forward!