How much thought have you given to your business name, and will the name inspire a reaction?

This is one of those questions which aspiring entrepreneurs sometimes have difficulty with.
Follow this 7 step process to find the right name for your business:
1.  Write a description of your business using only about 200-300 words. Make it easy for others to read. Type it out. Your description should explain to the reader:
  • What your business proposition is, which business sector you will be in and what you offer
  • The benefits that your customers will gain by dealing with you
  • Who your target customers are
2.  Think of a number of possible names for your business based on the description in Step1
  • 5 names is Good — this should be your minimum target.
  • 8 names is Excellent
  • 12 names is exceptional
List your selection of possible names at the bottom of the sheet on which you have typed your business description so that a reader can see everything on an A4 sheet of paper, description and list of possible names.
3.  Decide which of the list of possible names is your favourite — but do not let anyone else know your choice.
4.  Ask at least 10 other people read your business description, and to see the list of possible names. Somebody may have another name to suggest which is not on your list which you may wish to add if you want.
5.  Invite each person to select which business name they like best and make a note of it.
6.  Identify which name is most popular with other people — Is it the same as your favourite?
7.  Decide which business name is best for you once you have considered the feedback from others — There reasons may persuade you to change your original choice!!!

Your name is only important to you — Your business name is important to your customers — Always remember that you are not selling to you — You are selling to your customers!!!

Leave a Reply