What’s in a name? In business it may very well be everything. The name is the forefront of your business and what your customers will relate to. Name recognition will help bring in new customers as well as build brand loyalty with existing ones. Think about it, how many times have you made a purchase because you recognized a name? Even sub- consciously? It happens to everyone and even if you have an idea or product that has the potential to make millions it will need a good name. If you name your business anything other than your own you will have a DBA, “Doing Business As” that you will have to register. Some cities or states may require your to register the name even if you use your own. The charge to register is usually no more than $35. If people are contacting you about your business, or making checks out to you then your name is the business name. If you are selling a product or service directly to customers it will be easier to keep your business and personal finances separate by giving the business a name of its own.

When thinking of a name consider would you must consider if you want to give the impression that you and the business are different. While thinking of something creative and easy to remember it may also help to describe or promote the business through the name itself. On the other hand, you may chose to implement your name while describing your business (ex. Rudy’s Mobile Auto Wax). However, try to avoid using names that can be confused with other businesses or corporations. If Harold Porter, wants to start a computer service business naming it “HP Computer Doctor” isn’t a good idea. Not only is he limiting his target market by giving the impression he only services HP computers but if Hewlett Packard experiences some negative publicity it could also effect his company. In any case do not claim to be something you are not. If you sell high end business attire you would not say you are a sporting good supplier.

Here are a few things you should consider during the brainstorming phase to help save money, time, and effort.

Is the name available- This can be done by going to the Department of the Secretary of State website for your state, exactly where to go depends on the type of business being formed. If you are having a hard time finding something email Business Empire and we will try to find it for you and send you the URL.

Avoid Fades or Trends- If your targeting a younger audience using a trendy word or phrase might do well initially but trends tend to change.

Marketing Yourself- Consider if you want to operate locally? Nationally? Internationally? Is there a negative association? Is it easy to remember? Can you verbalize it?

Domain Name- With so many people using the internet these days web availability is just as important. Check to make sure the domain name relative to your company is available.

Know your Competitors- Avoid names close to those of competitors. Then you won’t have to worry about customer confusion causing you to lose business.

Slogans, Taglines, Avatars & Logos- All are different but help accomplish the same task. What people will remember about your company. A good name will let you have a broader range with your advertising efforts.

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