A Rose by Any Other Word

The name of your business is extremely important and should not be the result of a quick decision. Take the time to consider what image potential names will convey and whether or not this image will appeal to the market that you are entering. When you have whittled your selection down to several potential names it could also be a wise move to carry out some market research. This could be as simple as talking to friends and relatives and seeing their initial reaction to your proposed name. This will give you a valuable indication as to whether or not you are heading in the right direction.

The name should be easy to remember and in terms of marketing your business it is helpful if the name reflects the services or product that you provide, remember that ‘LB Services’ could just as easily be someone offering their services as a masseuse or a high level independent financial adviser.

It is important not to choose words or phrases which are very fashionable now but are likely to date quite quickly as in time this could lead to the perception that your business is old fashioned and behind the times.

There are certain words or phrases which are deemed sensitive because you have to have official permission to use them.

Terms which suggest that your business is of national importance such as British or National fall into this category, as do words like authority, chamber of commerce, charity, insurance, architect or chemist, to name but a few, as these imply a special status, particular function or specialised activity. Words that convey connections with either the government or royalty are also considered to be sensitive.

There is no point in having come up with an extremely original and distinctive name if none of your potential customers can pronounce, spell or worse still, remember it. Remember as well that people tend to be creatures of habit and like things that they can identify with and understand.

Even though you might be starting off as a small business every business has potential for growth and therefore it is worth baring this in mind when naming your business. It would be a mistake to choose a name that only applies to a very small niche market if you plan to expand your products/services into a wider field at some point in the future as this could necessitate a potentially expensive and lengthy re-branding exercise.

It is also important that your name should distinguish you from your competitors. Having a name that it too similar to another business in your target market would be a disadvantage as potential customers could easily make the mistake of remembering the name incorrectly and choosing your competitor rather than you.