Thursday, December 6, 2012

A Quick Guide to Naming Your Business

Naming a product or a company is a difficult decision. Unlike most challenges you'll face, this one is in a field in which virtually everyone claims expertise. The first thing to remember when naming something is not to rely too heavily on another's advice. Names created by committee are usually losers.

Don't forget about the law. Your name can cause a Jurassic Park-size problem if you don't first conduct a legal name search. The last thing you want is to hit it big, then be forced to change your name because a tiny company has the same name and wants $100 million from you for the rights to it.

Start by sitting down and making a list of what you want your name to stand for in the mind of the consumer. Your name should reflect your name and your positioning. Haagen-Dazs is supposed to make you think of cold fjords and rich, creamy milk. It doesn't matter that there's no such person as Haagen or no such place as Dazs--the name serves its purpose.

You must decide what you want your name to imply. It's usually the first thing your prospects learn about you. Here are some of the things your name can tell your prospects about you:

    The best
    Highest quality

Once you've got your list of attributes,