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Last Updated: Mar 14th, 2007 - 21:07:30 |
Starting a home business is no easy thing. After deciding on what business venture to pursue and accumulating the sufficient capital to immediately establish it, there are still some vital decisions you must think about very well. These decisions can make or break your business like naming your home business.
What In A Company Name?
Even if it’s just a home business, a name for your business venture is very important and will go a long way in making the venture success. But choosing a name is not easy. In fact, it is easier to decide what kind of business you want to go into than naming that business you have chosen. The business name has to be catchy and easy to remember, and most importantly it should stand out among the rest.
What do you wish to convey to the customers about your business, the quality of services that you offer, or the kind of people that you have? All these should be incorporated in the name.
Identity is of utmost importance. Simply remember that the more ambiguous the name is, the more money you’ll be spending on marketing materials.
Some companies use names which do not have any connection to the business they’re in. Some are trying to sound hi-tech. This may hurt the business as people will not have a definite idea on what you do. Or misguided by your chosen name, customers may bring in jobs which the company cannot do efficiently. As much as possible avoid incorporating your name or worse, combined names like JenBer (for Jenny & Bernard) Merchandising, or Chrizel (for Christopher & Liezel) Travel and Tours. Try to be smarter in choosing names.
Be creative. Choose a name that will have easy recall but to not tamper with brand names. Otherwise, the name will sound cheap no matter how witty you think the name is. Do not follow these examples: Kina Roger’s (from Kenny Roggers) Cafeteria, Mang Donald’s (from McDonalds) Hamburger, or Mike-Rose Soap (from Microsoft).
Be sure that you’ll never get tired of your name as you’ll use it a lot in letterheads, calling cards, giveaways, etc. It’ll be hard to have it changed when you’ve established it and you have regular customers.
At the same time, do not limit your name to the current products or services you are offering. In the future, your business may have new capabilities that may lead to new products or services.
Lastly, it helps that your home business name is savvy as it convey that you offer high quality products or services and staffed with competent people.
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