Naming Names Why a good business plan can help you name your company

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

A good business plan defines your product or service, yourcustomers, your competition and your business category. It outlinesgoals for short- and long-term growth and identifies attributesthat will allow your business to be competitive and successful.Elements in your business plan form the framework for a brandstrategy and lead to critical issues to consider when determining aname:

1. Visualize your customers. What do they look like? Whatare their ages, genders, lifestyles and locations? If your productor service is targeted to a specific demographic or type ofcustomer, your company name should be customer-driven.