| Selecting a name for your new business is not | | | | - Champlain Valley Therapeutic Massage |
| easy. A name does more than identify your | | | | - Clouds Above Massage |
| company. It tells customers who you are, what | | | | - Speedy Spa |
| you do, and more than a little about how you do | | | | All three companies are providing the same |
| it. Your name differentiates you from your peers, | | | | service: massage therapy. Yet the first appears |
| peaks customer interest, and invites further | | | | to favor a more medical approach, the second, a |
| investigation -- if you do it right. | | | | dreamy, luxury approach, and the third focuses |
| I didn't do it right. At least, not at first. | | | | on fast service. |
| All entrepreneurs make mistakes, and I made one | | | | 4. Differentiates You From Your Peers: Your |
| of my first ones right off the bat. Thrilled with the | | | | company name is the first opportunity to tell |
| fledgling business I was starting, this precious | | | | customers how you differ from the competition. |
| enterprise so near and dear to my heart, I | | | | This can be done by emphasizing what makes |
| christened my company Diadem Communications. | | | | you unique, pinpointing what aspect of your |
| Diadem means crown-- a fitting name for what I | | | | products and services can't be found anywhere |
| felt was acrowning achievement. | | | | else -- or that you do better than anyone else. |
| What does Diadem say to you? Does it evoke | | | | Consider the massage therapy example we |
| thoughts of me coming into your company, | | | | looked at in number three. Each organization |
| training your sales team to be the best booth | | | | clearly has a different focus and approach to their |
| staff ever, ensuring that every single trade show | | | | customer base. They're attracting different types |
| you attend turns out to be amazingly successful? | | | | of clients, who are seeking fundamentally different |
| Does it make me sound so good that you just | | | | approaches. All of which is conveyed in less than |
| can't wait to hire me? | | | | five words. |
| No. It doesn't say that to me either. And even | | | | 5. Peaks Customer Interest: Creating customer |
| worse, it didn't say that to any of my potential | | | | interest is an art and a science. Think carefully |
| customers. Going by name alone, no one would | | | | about your target audience. What qualities of your |
| be able to determine the least bit of information | | | | services are of the greatest import to your |
| about me, my company, or the services we | | | | customers? What kind of words are likely to |
| offer. The name said nothing, and it did nothing | | | | appeal to them? |
| for me. | | | | Emphasize the important qualities in your name. |
| The name had to go. More importantly, it had to | | | | For example, busy homeowners are drawn to the |
| be replaced by something effective. How do you | | | | inherent promise of speed offered by "Bob's |
| come up with an effective name? Consider these | | | | Instant Plumbing" while a reader in search of a |
| six elements: | | | | good mystery will gravitate toward "Crime Pays |
| An Effective Name: | | | | Books". |
| 1. Tells Who You Are: Your name should reflect | | | | Word choice is also important. Two yarn shops |
| your identity. This is an essential aspect of | | | | can both specialize in specialty fibers, but the one |
| branding. You'll be promoting this name, getting it | | | | who labels themselves "All Hemp All the Time" will |
| in front of as many eyes as possible as often as | | | | draw in a decidedly different crowd than the one |
| possible. How do you want the public to think of | | | | named "Natural Beauty: Organic Yarns". |
| you? | | | | 6. Invites Further Investigation: Customers are |
| For some, that means integrating your personal | | | | funny creatures. What one group finds to be |
| name into the name of your business. This is | | | | funny and engaging turns another group off. You |
| very common in some professions: legal, medical, | | | | want your name to be inviting and approachable -- |
| and accounting leap to mind. | | | | as those qualities are perceived by your target |
| Others prefer a more descriptive name. One | | | | audience. |
| successful small baker runs her business under the | | | | The best example of this may be seen in the |
| name "The Cookie Lady" because that's how her | | | | individual investor segment of the financial |
| first customers identified her. It's doubtful that | | | | services industry. Charles Schwab has spent |
| most of the customers even know her first | | | | years cultivating a classic, formal image -- but |
| name (It's Pat) but everybody in her market | | | | now that the consumer base is changing from 'old |
| knows "The Cookie Lady". | | | | people with money' to 'everyone with a 401K', |
| 2. Tells What You Do: It's incredible how many | | | | Charles Schwab has launched the "Talk to Chuck" |
| company names give little, if any indication of | | | | campaign in an effort to be more approachable. |
| what type of work the organization actually does. | | | | Make sure your name doesn't intimidate |
| Take the following examples: | | | | customers away! Some industries are more |
| - Smith and Sons | | | | formal than others, but adopt pretension at your |
| - Hulbert Brothers | | | | peril. |
| - Only One | | | | After following a series of simple step-by-step |
| Can you tell me what any of these companies | | | | instructions to match my corporate identity with |
| does? Of course you can't. They're relying on | | | | my service offering, I came up with the |
| customers already knowing who they are (a | | | | quintessential name: The Trade Show Coach. This |
| tricky proposition for new businesses!) or by | | | | name instantly tells customers what I do - assist |
| having their name found in 'context', such as a | | | | companies with trade shows - and a little of the |
| yellow pages or on-line business directory. | | | | manner in which I do it - coach, rather than |
| 3. Tells How You Do It: Words are very powerful. | | | | dictate, direct, guide, or organize. |
| By carefully selecting what words you use in your | | | | See the difference? So did the buying public, |
| name, you can convey a great deal about your | | | | some of who quickly became my best |
| company's image. Consider the names of three | | | | customers. The same thing can happen for you -- |
| different massage and bodywork centers: | | | | if you pick the right name. |