For example, say you're running a pet grooming business and you groom both cats and dogs. Essentially, it's a brand-defining concept that tells customers about your business and what they can expect when they engage in commerce with you. Your business name shapes your brand because it's a statement that tells the reader about the kind of commercial operation you're running. ![]() A business is an extension of your core values in terms of how you treat employees, and it's something that customers pick up on as they buy from you over time. That includes running the business with your core values. The reason why many people decide to launch a business is to do something in a way they think works better than if they worked for someone else. After the first impression has passed, the customer knows what to expect from your business the next time they return to buy from you. ![]() A catchy business name or one that firmly denotes your business type and focus helps the customer get a good feel for the kind of experience they'll have with your establishment. Your business name is the first thing a customer sees and is the start of the relationship between you and your customer. It also shows that you're engaged in commerce to provide services or goods to the public at large or sell to other businesses, depending on what you're selling and your focus. K-Mart as a company has all but disappeared, but it was a commercial powerhouse for decades and a large part of that was the brand identity derived from its name.īelow, we outline just a few of the reasons why a business name is so important and explain how the right business name can help your company.Īn official business name shows the public at large that you've gone through the process of creating a business entity and that you're operating within the laws that govern commerce. ![]() This denoted to shoppers that it was a general store, while retaining the K from the Kresge name. After WWII, the CEO of Kresge's decided that the company needed a name change as part of a competitive strategy shift. Kresge started his chain of five and dime stores in 1899, eventually shortening the business name to Kresge's. Why a business name is importantĪs a small business owner, a business name helps you develop the brand of your business, drives name association with the type of industry you're engaged in, and puts your own spin on your brand identity. Read on to learn more about how to generate ideas for an effective business name. Shakespeare once asked "What's in a name?" He answers the question immediately afterwards, but it turns out that there's quite a lot of nuance in a name, especially for businesses. If the business has a co-owner, you may decide that both of your names need to go into the business name, or keep your names out entirely. A business name should be easy to read and understand, while at the same time communicating your company’s core values and brand identity. ![]() Your business name needs to tell the reader what to expect when they call, go into your store, or visit your website. It doesn't have to be a complex process, but you do want the business name to have some punch, so it pulls in customers who are interested in what you have to sell. Part of starting your business is giving it a name that conveys the purpose of the business, what you sell, and what your brand is all about. Starting a business is an exciting opportunity to become your own boss and call the shots about how you earn money and live your life.
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