Lately I’ve been working on a business plan – been a nice, refreshing change, too. Getting me back to basics. Thinking about all the elements of getting started. Up and running.
What’s on my mind? The name. Okay, so maybe my ABCs start with ‘n’ instead of ‘a’ – anyway, what’s in a name? How important is it?
As I think, my mind wanders and hops from idea to idea.
- What will convey to my target audience what the business is? How easily will it be for them to find me? Will they get it enough to want to learn and know more? Who exactly am I targeting?
- What will be the brand behind the name? What are the words to describe not just me, but others who are helping to found the business? How will it be impacted by my mission statement? Vision statement. Attributes and traits. Personality. How do I want the business to be perceived?
- Of course, you want it to be distinctive enough to differentiate you frm the competition. So, then who is your competition … take a look at their names. How have they positioned themselves in the market? No one wants to be seen as a “me-too” business.
- Today it’s important to think of your name from a search perspective, too. Is the domain name available? What are keywords that you can associate with your name? Your business. Your service or product.
- Then there are the technicalities of naming your business … searching, registering … do you apply for a service mark? Where do you even search?
Just a few things to consider; it’s fun though. You try this version, then that. That leads to another idea and so on. Until finally you hit on it … what’s right. What works. What makes sense … not just to you, but to the people who will want to do business with you. Who will be buying your product or service.
How did you come up with your business name? If you need a little assistance with your business planning, let’s get together and chat over coffee (tea for me!).
