Name Could Be Most Important Part Of Business Plan

William Shakespeare once penned that a rose by any other name would still smell as sweet, and when starting your own business the name you choose may be a determining factor of its success. Many businesses today use catchy names, some of them are really weird in trying to make sure their name stands out among the others. This sounds similar to the old marketing claim that it does not matter what the press says about a person, just spell the name right.

For companies with hefty competition, this may not be the best approach when choosing a name for a new business, home or otherwise. In many instances, the business owner might be able to use their own name as part of their new business name, but for most consumers looking for a specific product or service, identifying a person's name as being a possibility for offering what they are looking for and miss out on a lot of business.

When sitting down to write your business plan the first thing you will need is a name. To help come up with the perfect moniker for your business, consider how you will most likely advertise and market the business. Print ads and broadcast ads will require a different approach. A name that makes sense in the phone book or newspaper ad may not sound as good if it is difficult to pronounce on the radio. Additionally, names that require a dash or two, or have other punctuation marks go well in print, but they are hard to relate through a radio ad.

No matter how you feel about your pet, unless your business is selling pet supplies naming the business after a canine or feline may not accurately tell the public what they can expect to find in your business. If your advertising will consist mostly of internet advertising, keeping it simple generally works best, but it should also relate, in some way, to the industry of your business.

If you plan on taking your business online then remember to use words common to your business when regisering a domain name. This will put you ahead of the pack because most people don't choose domain names that are common to the business they are planning. For example if your business is in the area of designing logos then an appropriate domain name would could be www.best-logo-design.com. Later if you are trying to get visibility for your site on the web then having your terms related to your business in your domain name can increase your rankings in the search engines if your search engine optimization stragety is done right.

Look at the names used by your competition and consider how likely you are to equate the business name with the product or service they are offering. For example, a printing supply store with a name something like "Under The Sun" may say to the owner that they carry everything under the sun, but customers in need of paper or ink might think they sell tanning supplies or swim wear. As tough as it is to find a new name, it is something that will require some brainstorming to get the right one to fit the business.

Avoid negative connotations in the name. While they can sometimes seem cute and make people snicker when they read them, they may not present the type of professional attitude you are really trying to convey. Once you have settled on a name, research trademarked names to be sure you do not infringe on an established business. Going back to the drawing board will be cheaper than having to reprint all of your stationary, business cards and pay to redesign a new logo for your website.