Creating an Effective Business Name

Creating an Effective Business Name
Tips to help you create a powerful and memorable business name

You'd be surprised how many people go into business and create a business name that reminds them of their favourite holiday destination, a pet or something equally obscure.

They often fail to see how important their business name is to the success of their venture.

An effective business name can be the difference between thousands of customers or a handful. It creates an awareness and over time can build considerable value.

An effective business name:

Reflects the nature of your business, your products and/or services
Has a positive effect on your customers
Builds and adds value to your business
Is easy to spell and pronounce
Can be trademarked
Can be registered as a domain name (i.e. www.businessname.com.au)
Is memorable
Is culturally sensitive
Has currency, dynamism and potency
Has rapid acceptance and retention

Business Name Tips

To create a business name, you can either:

Engage a design group
Work with your colleagues
Do-it-yourself

Whatever you decide to do, remember that thinking up an effective business name is going to take lots of time and some hard work.

These tips may help if you decide to create your own business name:

Easy to Pronounce
Make sure your business name is easy to pronounce. You want your customers to concentrate on your products and services, and your point(s) of difference - not get lost in the difficult pronunciation of your business name. "Amphitrite Aqualis Water Systems International" - we think not!

Easy to Spell
Imagine having to spell your business name every time someone writes you a cheque or calls your office for information - that's two t's followed by an i as in igloo. Create or use a name that doesn't require a dictionary.

Appropriate Rationale
Ensure your business name is based on what products and/or services your sell, or the tone of your group. A chain of healthy juicing stores calling themselves "Magic Potions " would probably have more success if they used the name "Juicetastic"or "Healthy Plus".

Domain Name Availability
Make sure your business name can be registered as a web address or domain name i.e. (www.yourbusiness.com.au). In most cases your customers will expect a web site address that is close to, or a derivative of your business name.

No Dashes
Try and keep your business name free from hyphens. You shouldn't need to clarify unusual punctuation. e.g. If your business name was Second-World Telecommunications, you would constantly be telling your customers about the dash. Forget it!

Further Info
Branding
Name Development
Contact Hot Chilli