Choosing a company name is one of the most important business decisions that both you, and your company will make. The name you chose will be the foundation for your corporate brand, corporate philosophy, and will greatly influence the way that people perceive your company, products, and services.
You may be surprised to learn that one of the mistakes to avoid when naming your company is involving too many people. Yes, it is important to have input from your colleagues, and your employees, and possibly even your family and friends, but the problem arises when you have many ideas from many sources and can only choose one name. Avoid this conundrum by soliciting the opinion of as many impartial people as possible, and only ask for initial naming suggestions from people who you believe have the best interests of your company at heart.
Another common mistake that companies make is choosing names that are too plain. It may be easier to name your company generically, i.e. based entirely on what your company does, but this can create a name so boring that no one will remember it. Whilte it is important that your name should somehow reflect the products and services associated with your company, your name should also be creative, catchy, and memorable.
The next common mistake goes along with the one above. Many businesses think that it is a good idea to use their city, state, or region in their company name, and while this may help at first, it can become an impediment as a company grows. People searching for your business may assume that your service area is exclusive to the city that your company is named after, which of course is not always the case. It may be easy to call your business Chicago Paper and Supply, but when you want to start expanding on the west coast, well, you get the idea.
Opting for obscurity is another mistake that many businesses make. In the effort to come up with a name that is completely unique, completely different, and completely original, companies can have names that are so disassociated from the products and services that they provide that they, very simply, never become associated with them. The same goes for names that are almost impossible to pronounce or spell, and names that are purposely misspelled, even though it worked for Krazy Glue, it may not work for you if you want to name your business Kwality Kleeners.
Now that you have some idea of how not to name your company, you hopefully have an idea of how you should choose a name. Just remember, the name you choose will brand your company, so choose carefully.
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