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Naming Names

Why a good business plan can help you name your company

This story appears in the May 2000 issue of Business Start-Ups magazine.

When you name your business, you're giving birth to a brand. In time, your brand name will represent a rich and varied combination of positive expectations and experiences in the minds of your customers. The name should complement those expectations and experiences. That's why you should use your business plan as a blueprint for developing a name.

A good business plan defines your product or service, your customers, your competition and your business category. It outlines goals for short- and long-term growth and identifies attributes that will allow your business to be competitive and successful. Elements in your business plan form the framework for a brand strategy and lead to critical issues to consider when determining a name:

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