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Choose the right name for your business

Choosing the right name for your business is a daunting task for many new entrepreneurs because there is so much at stake. Does your name stand out to prospects and customers? Or does your business get lost in the crowd? Does your name communicate the right message? Or does it inadvertently keep prospects from calling you?

To simplify the process of generating a name for your new venture, begin with a brainstorming session, this exercise will help you get ideas on paper so you have something to work with. Ask yourself the following questions.

Who exactly are my target customers?

What problems do I help solve for them?

What words or phrases appeal to them?

What are the benefits my business brings to customers?

Are there word pictures or metaphors that communicate what I do that would be relevant to my customers?

What names do my competitors go by? What kind of name would differentiate me in the marketplace?

Naming a business is not always easy, but it can be fun. Choose a name that will provide a good image and will communicate your business purpose clearly. Also, make sure you like it. After all, you'll be spending a lot of time with it. By selecting wisely, you'll make your business name a valuable company asset, and a phrase you'll say with pride for many years to come.