In today’s Internet driven world, business owners looking to maximize opportunities have to think about many things that weren’t an issue twenty, even fifteen years ago. How is social media impacting your marketing strategy and do you have a sophisticated online presence to showcase your expertise, product line or services? The Internet has indeed transformed how we do business and more importantly, how we run business. But how about something as straightforward as your name, is a business name and a domain name one in the same? If you’re unsure, here are a few points to consider that can help clear any ambiguity that surrounds one of the most important features of your business - your name.
For thousands of entrepreneurs, investors and business owners, the “.com bust” of the early 2000’s came on fast and powerful, leaving many scratching their heads wondering what went wrong. As the internet craze began to take shape in the 1990’s, venture capitalists raced to fuel internet based companies in hopes of getting rich overnight. For startups everywhere, this was a dream come true, and many of them incorrectly assumed, a free ticket to success.
You’re not alone if naming your start-up business seems like an agonizing task. Choosing a name is one of the most important decisions you’ll make as a business owner and it can be difficult to sum up your entire organization in a word or two. Whether you’ve chosen a name or you’re still pondering your options, here are three questions you need to ask that will help you make the right decision. If you can answer all three with a “yes”, then chances are that you are on your way with a name that will serve you well.
The strongest, most successful companies have many things in common. They all know how to keep their customers satisfied with quality products, they over deliver customer service and they have learned the art of building a powerful team of advocates who connect emotionally with their brand. Thriving businesses share another attribute - a great name.
Like most entrepreneurs, your business is your livelihood and when you make significant changes, you need to know they are the right changes. When it comes to something as important as your name, how do you know if yours is making the grade? More importantly, how do you know if it's time to rethink your strategy with a new, more improved version? If you are unsure about whether or not changing your business name is a good idea, here are some things to consider that may help you make an informed and sensible decision.
A great business name is sticky and flexible. Whether you hear it in a crowded room or say it yourself, it resonates and remains. So what are the naming strategies behind some of the greatest companies of all time? Apple was able to make people believe that the high-tech world of personal computing was friendly and inviting by choosing a common, every day name. Samsonite created an image of strength and durability that only Samson himself could uphold. BlackBerry used our sense of touch by associating the phone and its small keyboard buttons to the drupelets that form the blackberry fruit.
The goal of any great business name is to create a connection with an audience that impels them to think of your business in a positive, meaningful way. Sounds simple right? A great name is constructed so that it’s easy to recall when it’s time to purchase goods and services. After all, if your business name is hard to remember or simply boring, no one will think of you when it’s time to buy. With that in mind, here are a few techniques to consider when choosing a name that will help you create the perfect combination of emotion, visual interest and most importantly, recall.
The goal of every new business is profitability. And while exceptional products and stellar services will start you on the right path, it takes an engaged, reliable customer base to succeed. With literally thousands of new businesses emerging every day, competition is fierce. Smart entrepreneurs recognize that they need immediate competitive advantage if they want to succeed. For grabbing those customers, making the right introduction to your business is critical and a great name is an invaluable asset.
For many new business owners, one of the most challenging parts of getting a new venture up and running isn’t financing, staffing or even advertising, but coming up with ideas for a great business name. The right name can send your business flying with a memorable brand and a never-ending trail of repeat customers who connect, engage and relate to your products and services all because of your name.
Building a new business can be a rewarding experience. Yet in many cases, success or failure depends entirely on the choices that are made in the early stages of a venture. A well-executed idea can grow into a profitable enterprise that can bring financial freedom, personal flexibility and more, but missteps along the way can cause a business to stall or even fail. While there are countless responsibilities that come along with building a business, one of the most important first steps is choosing a name.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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