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Sunday, October 6, 2013

What's in a name?

The answer may the difference between success and failure. The right name can make your business, the wrong one can…well, you know…it fails!

So what should your business name do?

1. Tell who you are/what you do. Make it easy to be understood right at the start.

What do you want people to think when they see or hear your name? What does “Potters” say to you? How about “Potter the Plumber”?

2. Tell how you do it. Try “ACTION” words like ‘On-Line”.“Fast”, “Speedy”, “On Call”, “24 hour”, ”Complete”, “Kitchen”, etc. words that add value to who you are.

3. Differentiate yourself from the competition., and make the prospect want to know more. Address the question: “Why you?” Try: “Potter Air Plumbers: we use air and water.” (as opposed to wires in your pipes)

Be sure you name does not insult prospects.

Coming up with the right name for your business can become complicated. If this is the case for you, consider an expert. There are naming firms that can help. Don’t forget the trademark situations you will have to deal with as well.

What’s in your name?

Steve Koenig, SCORE Counselor


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