There are many schools of thought on this topic. Why is it important? The name of the business won’t necessarily determine that it will be successful. It can possibly determine if it’s not.
How many times have you seen someone name a business after them? How about Eddie Bauer? Perhaps you’ve seen Ralph Loren? There are many more to be sure. My first business was called Rawson Co. I still regret that name. Don’t get me wrong. I’m very proud of my name, I just didn’t like the fact that everyone knew I was not only the President but that it was MY Company.
There are Pros and Cons to this simple choice. First the Pros:
• Everyone identifies with real names
• Everyone will know it is your company
• Imagine everyone pointing at you when it is successful
• You’ll be so proud of what you accomplish because it will have your name on it.
• It will be easy for your own credit to potentially give a boost to the company as it’s starting out.
• You can capitalize on the reputation you’ve built over the years.
Now let’s look at some of the Cons:
• Everyone will know it’s YOU
• Everyone will know that YOU make the decision
• Everyone will look to and want to identify with YOU because it’s YOUR Company
• Everyone expects people to win. If you have hard times, people will associate those with you.
• Your name may not be easy to pronounce or spell
• Your name may be used by someone else creating confusion
Next, let’s look at company names that don’t mean anything. There are millions of them. Some of the names have become very popular. Haagen-Dazs is recognized the world over. The name means nothing. On the Internet is Skype. It is probably the most successful VoIP solution on the net. What is a Skype? No one knows.
A made up name can be as powerful as those words that mean something. My own company uses C4 in the name. When we were looking for names we said, it must be powerful. Someone else said, “Yeah, it should explode on to the market.” The next person said, “You know, like C4.” The rest is now history. We have C4 Global (www.C4GlobalHQ.com), C4 North America and on and on. What if we had chosen C2? Does that sound as strong? Probably not.
Thomas Edison just used Edison. Ford just used Ford. Ford even tried to name a car after his beloved son, Edsel. While the name was unique, the failure of the brand tainted the name for evermore. Now any product that doesn’t work can be referred to an Edsel. Ouch!
Today, the Internet brings with it even greater marketing and recognition opportunities. If you’re starting a commercial enterprise, be sure to get the .com extension as your first preference.
Here are a few hints to securing the name you want. Consider:
First choice should be the exact name of the company.com
Second should be the initials of the company.com
Third should be the company’s name online.com
Don’t be afraid to use .net as an extension. The original association was to be a network of some sort or another. This is no longer true. In fact, any extension except .org could be used for a commercial enterprise. Remember, your business cards, email, literature, direct links from postings and other websites will drive traffic to whatever URL you select. The advantage to naming the website correctly is that it can easily be found in “free search” mode. This is where the user simply types in the name that is most common and usually places .com at the end of the logical name.
One more thought. Don’t be afraid to secure the .com, .net, .info and even the .org for your company. The .org could be used for your company’s charitable work.
Names should be thought out and their use must be devoid of any ego. Focus on what sells; what can be remembered or associated with what you do and/or where you are as a standard in the industry. Make an impression and it could be your key to success!
Mr. Rawson is Chairman and CEO of C4 Global a multi-national business development company with seven divisions. He has 35 years experience leading and running companies of various sizes. He is credited with 17 successful startups in his career. He is also the Father of six and the Grandfather of eight. He can be reached at DRawson@C4GlobalHQ.com
Tags: branding, business name, conventions, logic, name, new business, search, startup
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