Quite a bit actually. Recent studies suggest that it’s not securing start up capital, finalizing the business plan or finding the right location for their business that causes entrepreneurs the most grief. Turns out that naming their business proves to be THE major stumbling block. Typically business names are not “spur of the moment” creations, rather the product of some serious thinking. You’ll probably even dig out your dusty thesaurus – or go out and purchase your first since grade school. Some entrepreneurs say they’d rather pick out names for their children than choose a name for their business.
There is a mountain of advice and opinions out there about how one should complete the naming process. I’ve done a bit of researching and opinion compiling and pieced together what I consider to be the important bits.
One thing all the experts seem to have in common is the “easy” list. What ever name you decide on make sure that it’s easy to:
- Find on the web
- And probably most importantly – REMEMBER!
Another commonality is the “things to consider” column. Some things to take into consideration:
- Customer reaction
- URL availability
- Length -best to keep the name of your business to 3 words
- Some people even suggest you enlist the help of a professional
Remember that a good name will never save a bad company. But it will go a long way in helping you build customer loyalty.
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