Final Analysis
If you’re lucky, you’ll end up with three to five names that pass all your tests. Now, how do you make your final decision?
Recall all your initial criteria. Which name best fits your objectives? Which name most accurately describes the company you have in mind?
Some entrepreneurs arrive at a final decision by going with their gut or by doing consumer research or testing with focus groups to see how the names are perceived. You can doodle an idea of what each name will look like on a sign or on business stationery. Read each name aloud, paying attention to the way it sounds if you foresee radio advertising or telemarketing in your future. Use any or all of these criteria.
Keep in mind that professional naming firms devote anywhere from six weeks to six months to the naming process. You probably won’t have that much time, but plan to spend at least a few weeks on selecting a name.
Once your decision is made, start building your enthusiasm for the new name immediately. Your name is your first step toward building a strong company identity, one that should last as long as you’re in business.
Excerpted from Start Your Own Business, Fifth Edition by the staff of Entrepreneur.
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Comments:
Good article and points. It is wise for to consult with a professional when selecting a name. There is a process to go through and experience counts. When we work with clients to name companies or products we encourage them to think like their prospective customers. When a company name reflects what the company does it can make a huge difference in growth and success.
I have to agree with your last sentence there... and here's me thinking that you always get what you pay for. When it comes to your brand and image on the Web, leave it to the hands of the experts. I'm sure you'll be glad you did.
Getting a name for your business is the hardest part for startups. It could spell the success or failure for some businesses. I often got stock on the getting the right name for my business idea.
Great Points!! A name is very important. Our name along with our logo reflects what we do along with how we do it.