Does Your Business Name Ring A Bell?

 Here are some ways to choose an effective biz name that will fit with your business's objectives, legal issues, and target audience.


Ready? Great, because it's definitely one big decision in your competitive strategy and as such should be carefully considered.


1. Your biz name should identify the core of your business. It'll distinguish you from the competition by setting you apart from it. It's how your potential customers will identify you from now on. So, consider it as if you're getting married to it. You'll live with it happily ever after (hopefully).


For instance, if you sell drillers, are you selling the drill or the perforation? The core of your business is helping people make holes easy and fast. If you're selling jewelry, you're not just selling an accessory, you're selling status. If you sell insurance, what are you selling? Get the idea?


2. It should tell your audience what's your main offering, what's the main benefit you deliver. With this in mind, think deeply about what problem you solve, the need, want, desire your product or service meets.


3. Your business name is your brand and it's a term.


4. Your brand mark, is the symbol or design that identifies your name brand. It could be your logo.


5. Trade mark: It's the legal protection of your brand name. It gives you exclusive use of it. It uniquely identifies your company and no one else can use it. You can also protect your package designs, colors, images, and even fonts used.


6. Your business name should fit with your target market. If you want to reach a global audience, then use a globally recognizable name.


TIP: Use this option if you are planning on starting an online business or not. Perhaps in the future you plan to open an online store or to export your products or services. Then, you won't have to change your name that was so hard to brand.


Use names that almost everyone in the world would easily recognize or identify. Many companies around the world are starting to take a global view on their business names, especially now that billions of people have internet access.


7. Of course, if your business is about travel create company name  , the name of your destination should be included in your business name. It's obvious, right?


8. If you want to reach only a local market, then use a name only recognizable in that market. Use names distinctive to that market.


9. In your business name include the characteristics of what makes an effective biz name: It's easy to pronounce, recognize, remember, spell, short, meaningful, clear, and classy.


10. Finally a business name shouldn't be easily confused with generic names. A way to achieve this is to protect your name by teaching your audience and writers the right way to use your brand name.


Remember Jell-O? Most people use this word as descriptive of gelatin dessert, and not precisely to identify the brand name. Another example is Lego building bricks. Many people use Lego to refer to the toy and not to the brand.

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