4 Easy Steps to Select a Business Name | Small Business ...

Deciding what to name your new business can be a bit challenging.? You may find that the name you want is already taken or that the domain for your name is not available.? The most important thing to remember is that the business name you select will become your brand and you want a branding and reputation that will be remembered and point to your business.

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?Not only does your company name serve as a first impression of your business; it serves as the heart of your brand. Branding is about bonding. You want a name that bonds with your target customer?a name that creates comfortable, positive thoughts and feelings,? said John Williams in Entrepreneurs? Magazine, 2006.

1. Brainstorm ? Consider whether you want a name that represents your product or your company.? If you sell a single product it may serve you well to include the product in your name Cold Stone Ice Cream; Mr. Smoothie, Famous Footwear.? Or you may select a name for your company without naming the product. Look at Friday?s or Olive Garden.? Decide on the number of names you will include in your initial pool. Consider maybe 10 and begin the process of elimination.
2. Research ? Check to see if the name is available for your company and also for a domain name for your website and email.? There is nothing more frustrating than discovering that the name you want is available but the domain name is not.? This process will also help you eliminate names from your brainstorm list.
3. Test Market ? Once you have arrived at your top three names, test market the name by surveying friends, colleagues, family and potential customers, about the name they fine most appealing, you may even ask employee if you are renaming your business or naming a new product. Is the name easy to spell? Will your name create an attractive acronym? Will you outgrow it? Is it so trendy that it will become pass?? Not considering these questions carefully can be costly or devastating.
4. Finalize your Choice ? Finalize your name choice based on your own personal preference and the feedback you have received.? It is your business and you should be completely satisfied with your selection.

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Once you have created your name, designing a logo may be your next step.? But, for now, celebrate your choice, register your fictitious name and purchase your domain name.

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Carol A Hendrix is the owner of GIM Associates LLC, a Business Management Consulting and Training firm and a Certified Business Analysis and Pasco County Representative with the SBDC of USF.
Tampa, Fl 33647
tel. 888-929-2221

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