As the title suggests, there is quite a lot at stake when deciding on a name for your business.  Your business’s name is its most visible asset, and is what will immediately attract or repel potential customers, even at a sub-conscious level.

Almost any name can be successfully marketed, but some succeed on what seems like the virtue of the name alone while it takes months of marketing efforts and money to shoulder to fame.  The difference?  Successful names target and communicate your expertise, your niche, and the value that your company brings to that niche.

So how do you come up with the perfect name for your small business? Here are a few possible routes you could take to get you to the name that your customers will remember from the first time they see it and to shorten the length of time you have to spend playing the name game:

1. Hire a Naming Expert

There’s such a thing as a naming expert? Yes, and they can help you pinpoint the intersection of cleverness, relevancy, complexity, and universality that makes great names great.  Furthermore, naming firms will consult with you about which names will fail, which will succeed, and why; plus, they’ll be able to navigate around the murky trademark waters that prove such a hazard for small businesses.  They’ll come up with a dozen names for you company quickly, and most of them will be great.  Beware, though, naming firms charge for their services, sometimes far more than you could afford, or would want to pay for.  Still, it’s an option, and one that has almost guaranteed positive results.

2. DIY

Most small business owners will go this route — it’s free, and more importantly, the finished product will represent your business more personally than a name generated by a consulting firm.  There are several factors to consider, though, when naming your business, and they all play an important role in the success of the name:

  • Meaning — What does the name of your business mean to your customers?  Will that meaning appeal to them?
  • Specificity — How specific is your name? Remember, there is such a thing as being too specific when naming your company.  A bike shop called “Woodville Bikes” might be too specific, for example, especially if your business expands beyond Woodville and bikes.
  • Complexity — Don’t befuddle your customers with a bizarre name.  Keep it simple enough that it has character, but doesn’t intimidate your clients.
  • Originality — A little creativity goes a long way.  Again, there is a balance that needs to be kept, because names can easily get too clever, precious, or punny.

Once you’ve decided on a name, make sure it isn’t already taken by another company.  Researching any trademarks on your name early on will save you potential headaches and fortunes in the future.  Finally do a test run with your name with your customers — ask around and see what fits better with your target market.  After all is said and done, you’ll be able to answer that age-old question: What’s in a name? Everything!

About the Author: Jemima Lopez is a freelance blogger and writer who writes for Zen College Life, the directory of higher education, distance learning, and online degrees. She welcomes your comments at her email: lopezjemima562 @ gmail.com.