Business Protocol

One of the first steps for every entrepreneur is to choose a name for his/her new business but deciding on the right name can be tricky. Your company’s name needs to be memorable and it also needs to convey what type of service or product you’ll provide to your prospective customers, not to mention that there are also several legal issues to consider.

Some business owners believe that the best names are the most creative ones while others think that a company name should be descriptive and informative. In my experience both types can be effective if the name is backed by the appropriate marketing strategy and partnered with a descriptive tagline and logo.

For example, when I launched my Homeowner Referral Network (HRN), my husband and I created a list of potential names for my new business until we finally hit upon the name “Home Remedies”. I loved the name instantly however I knew that it would be a challenge to let homeowners know that I wasn’t in the business of selling homeopathic medicine. In order to explain my services more clearly, I worked on developing a descriptive tagline that would always appear with my business name along with a logo that incorporated the shape of a house or tools.

If you’re launching a new business and are trying to chose a good name, your first step should be to decide what you want to communicate. The more your name tells customers, the less effort for you to explain what type of service or product you provide.

Next, try to define the qualities that you want your business to be identified with. For example, do you want your business to convey a local, hometown feel or do you want a more corporate image? The typeface, in conjunction with your business name, will define your business image. You can brainstorm by looking for words in dictionaries, newspapers and magazine ads to generate ideas. Once you have a list of your top choices, share them with family, friends and industry related professionals to get their input.

And finally, keep in mind that your name shouldn’t be too long. It should be easy to pronounce. If people can easily pronounce your name or understand it when it’s spoken, they’ll be more likely to say it.

Contributed by Debra M. Cohen.
About The Author:
Debra Cohen is President of Home Remedies® of NY, Inc. – a Homeowner Referral Network (HRN that serves residents of Nassau County, NY). Ms. Cohen is also author of a business manual entitled “The Complete Guide To Owning And Operating A Successful Homeowner Referral Network”. To date, Ms. Cohen has assisted more than 400 other entrepreneurs launch successful HRN’s nationwide. For more information about starting an HRN in your area, visit the HRN website at http://www.hrnbiz.com.