| Selecting a name for your new business is not | | | | - Champlain Valley Therapeutic Massage |
| easy. A name does more than identify your | | | | |
| company. It tells customers who you are, what | | | | - Clouds Above Massage |
| you do, and more than a little about how you | | | | |
| do it. Your name differentiates you from your | | | | - Speedy Spa |
| peers, peaks customer interest, and invites | | | | |
| further investigation -- if you do it right. | | | | All three companies are providing the same |
| | | | service: massage therapy. Yet the first |
| I didnt do it right. At least, not at first. | | | | appears to favor a more medical approach, the |
| | | | second, a dreamy, luxury approach, and the |
| All entrepreneurs make mistakes, and I made | | | | third focuses on fast service. |
| one of my first ones right off the bat. | | | | |
| Thrilled with the fledgling business I was | | | | 4. Differentiates You From Your Peers: Your |
| starting, this precious enterprise so near | | | | company name is the first opportunity to tell |
| and dear to my heart, I christened my company | | | | customers how you differ from the |
| Diadem Communications. Diadem means crown-- a | | | | competition. This can be done by emphasizing |
| fitting name for what I felt was acrowning | | | | what makes you unique, pinpointing what |
| achievement. | | | | aspect of your products and services cant be |
| | | | found anywhere else -- or that you do better |
| What does Diadem say to you? Does it evoke | | | | than anyone else. |
| thoughts of me coming into your company, | | | | |
| training your sales team to be the best booth | | | | Consider the massage therapy example we |
| staff ever, ensuring that every single trade | | | | looked at in number three. Each organization |
| show you attend turns out to be amazingly | | | | clearly has a different focus and approach to |
| successful? Does it make me sound so good | | | | their customer base. Theyre attracting |
| that you just cant wait to hire me? | | | | different types of clients, who are seeking |
| | | | fundamentally different approaches. All of |
| No. It doesnt say that to me either. And even | | | | which is conveyed in less than five words. |
| worse, it didnt say that to any of my | | | | |
| potential customers. Going by name alone, no | | | | 5. Peaks Customer Interest: Creating customer |
| one would be able to determine the least bit | | | | interest is an art and a science. Think |
| of information about me, my company, or the | | | | carefully about your target audience. What |
| services we offer. The name said nothing, and | | | | qualities of your services are of the |
| it did nothing for me. | | | | greatest import to your customers? What kind |
| | | | of words are likely to appeal to them? |
| The name had to go. More importantly, it had | | | | |
| to be replaced by something effective. How do | | | | Emphasize the important qualities in your |
| you come up with an effective name? Consider | | | | name. For example, busy homeowners are drawn |
| these six elements: | | | | to the inherent promise of speed offered by |
| | | | Bobs Instant Plumbing while a reader in |
| An Effective Name: | | | | search of a good mystery will gravitate |
| | | | toward Crime Pays Books. |
| 1. Tells Who You Are: Your name should | | | | |
| reflect your identity. This is an essential | | | | Word choice is also important. Two yarn shops |
| aspect of branding. Youll be promoting this | | | | can both specialize in specialty fibers, but |
| name, getting it in front of as many eyes as | | | | the one who labels themselves All Hemp All |
| possible as often as possible. How do you | | | | the Time will draw in a decidedly different |
| want the public to think of you? | | | | crowd than the one named Natural Beauty: |
| | | | Organic Yarns. |
| For some, that means integrating your | | | | |
| personal name into the name of your business. | | | | 6. Invites Further Investigation: Customers |
| This is very common in some professions: | | | | are funny creatures. What one group finds to |
| legal, medical, and accounting leap to mind. | | | | be funny and engaging turns another group |
| | | | off. You want your name to be inviting and |
| Others prefer a more descriptive name. One | | | | approachable -- as those qualities are |
| successful small baker runs her business | | | | perceived by your target audience. |
| under the name The Cookie Lady because thats | | | | |
| how her first customers identified her. Its | | | | The best example of this may be seen in the |
| doubtful that most of the customers even know | | | | individual investor segment of the financial |
| her first name (Its Pat) but everybody in her | | | | services industry. Charles Schwab has spent |
| market knows The Cookie Lady. | | | | years cultivating a classic, formal image -- |
| | | | but now that the consumer base is changing |
| 2. Tells What You Do: Its incredible how many | | | | from old people with money to everyone with a |
| company names give little, if any indication | | | | 401K, Charles Schwab has launched the Talk to |
| of what type of work the organization | | | | Chuck campaign in an effort to be more |
| actually does. Take the following examples: | | | | approachable. |
| | | | |
| - Smith and Sons | | | | Make sure your name doesnt intimidate |
| | | | customers away! Some industries are more |
| - Hulbert Brothers | | | | formal than others, but adopt pretension at |
| | | | your peril. |
| - Only One | | | | |
| | | | After following a series of simple |
| Can you tell me what any of these companies | | | | step-by-step instructions to match my |
| does? Of course you cant. Theyre relying on | | | | corporate identity with my service offering, |
| customers already knowing who they are (a | | | | I came up with the quintessential name: The |
| tricky proposition for new businesses!) or by | | | | Trade Show Coach. This name instantly tells |
| having their name found in context, such as a | | | | customers what I do assist companies with |
| yellow pages or on-line business directory. | | | | trade shows and a little of the manner in |
| | | | which I do it coach, rather than dictate, |
| 3. Tells How You Do It: Words are very | | | | direct, guide, or organize. |
| powerful. By carefully selecting what words | | | | |
| you use in your name, you can convey a great | | | | See the difference? So did the buying public, |
| deal about your companys image. Consider the | | | | some of who quickly became my best customers. |
| names of three different massage and bodywork | | | | The same thing can happen for you -- if you |
| centers: | | | | pick the right name. |
| | | | |