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Business 101: The Name Game
by Elizabeth Gordon, Author of The Chic Entrepreneur
October 30, 2008
S
o you want to start a business? You’ll need to provide unique value to the marketplace,
wow customers, inspire employees and turn startup costs into cash flow. Sounds like a tall order,
huh? No one said owning a business was easy, but I can tell you, it’s as exciting and as scary as a
roller coaster ride, but I’m sure glad I got on. So take it one step at a time starting with your
business name.
One of the most important, and often neglected, parts of a business is the name. A great name
is one that attracts customers and can really give your business legs in terms of starting a buzz.
Do you think Google would have created a fanatical sensation if it was called Search Engine USA?
Here are seven tips for naming your
business:
1. Be distinctive and memorable, but be easy to spell and pronounce.
2. Include a visual element that will help with your logo.
3. Have a positive connotation.
4. Allude to the product/service your business provides.
5. Distinguish your business from your competitors.
6. Have a dotcom option.
7. Don't violate intellectual property rights.
Choosing a business name takes time and is very important to your future success. I’ve read
that Sara Blakely chose Spanx because she wanted it to be memorable. She knew Coca Cola and Kodak
are two of the most recognized products in the world and she knew that the ‘k’ sound was used by
comedians to make people laugh. She also decided to use a made up name because it’s easier to
trademark. That’s the kind of thought process that should go into choosing a business name.
Owning a business is an ever-evolving dream and oftentimes not easy, but take it from me, the
Chic Success is worth the hard work.
