How naming your business is crucial to its success
A company is known by its operations, staff, PR and most importantly its name. It is the name of any company that captivates the clients first and paves way for the beginning and building of a new relationship. The company name represents any entrepreneur before himself so it needs to be easy to memorize, catchy and related to the business operations. It is very crucial to name a business because of the following factors:
The first impression is the last impression and this saying also applies to business and entrepreneurship. A name should create a long lasting impression and a powerful impact on the minds of the clients and customers. Consider it as a first step to building a strong relationship. All the entrepreneurs want to retain their customers and most of the clients do not remember the name of the company and they move on to the next. A great company name should be easy to remember and memorize with the power to strike the customer and create a positive image of the company. Positive images can be created through a word, a font, colors, and/or backgrounds.
Representative of Operations:
Many companies in the past could not excel due to their names not being appropriate. Appropriate in a sense that they were not able to represent the operations of the company. Think of Google. The word Google was derived from the word Googol meaning 1 followed a hundred zeroes. It purely depicts the fast speed at which Google lays down the search results. Naming it on a slow creature or anything that is slow in nature would not have worked that effectively for Google. Many Economists of the classical and modern era have emphasized on naming a company on the basis of their operations.
Unique and Catchy:
A unique and captivating name can be a handy choice to make. It is human nature that they get attracted towards something that is unique and new. Most of the companies thrive in their early days because of a good name that was appealing to the customers. A name close to some other company or companies can be a harmful choice for the business and there remains a possibility that the business may wind up. A common name may or may not work well for the business.
A good company name should not coincide with any other Govt. or private company and avoid controversies. Words like an emperor, king and kingdom should be avoided as they can be disrespectful to other names of other companies and can sometimes involve the state to take disciplinary actions also.
From the above factors, it is obvious that how crucial a name can be for a company and what factors shall be kept in mind for the successful inception and long running of the business. Moreover, it is not only the name that guarantees a successful business; other factors are also of high importance; like the staff, services and quality of products.