One of the best feelings when you grow up is when you become your own boss. It is always a dream until it turns to reality. You should remember that you don’t just wake up and become an entrepreneur by luck. A lot of things are put in place to secure this. One thing that is never put out to the public until it is decided on is how a business person chooses the business name. It is one of the major stages that will give your business an identity. The only way people identify a business is by its name and services. If your business doesn’t have a name, how will people identify you? At one point, you will need your customers to come or send their friends to your shop. How will they describe your shop? Use the following guidelines to develop your business name:
- Targeted audience
Every business has its targeted audience or target market; this is according to allbusiness.com. If by any chance you want to brand your business, you need a name that will make a statement once it is out there. There is no point of using a name that is already being used because it is illegal. The best thing is to identify the age bracket you will be dealing with. This will help you decide a name for your new business. If you are targeting teenagers, then it is advisable that you look for a funky and easy name for your business. This way, you will create a brand for yourself and that is how you will make a statement as a new business.
- Keep it short
The other secret ingredient you should never forget is making the name short and precise. You don’t have to make the name of your business long. Your business name should be easily pronounceable by any individual. If an average person can’t pronounce your business name, then it means that it is a wrong name. When your business name is short, it is easy for anyone to remember. If you intend to also get a wider market, you need to make your business name short. The shorter the name, the easier it crosses people’s mind when giving referrals.
- Sleep on it
The one thing people forget is that there should be no hurry in generating a business name. In fact, the best thing is to have a few creative business names on your list then make a decision. You can always take your sweet time and sleep on it then come back when your mind is fresh. You make better decisions after a good night’s sleep. You can also take some time off and think about the names on your list. After that, you can come up with a name that you think is good for your business.
- Future
You shouldn’t be shallow minded when thinking of a business name. This is because the business is supposed to be there for a long time even after you are gone. This means that you should choose a name that can make sense to all generations to come. Your business name should stand out even after new businesses are established. Don’t pick a business name according to fashion because fashion changes faster than you can imagine.
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