If you're like many entrepreneurs, you've thought about an awesome and funky business name for some time.
Perhaps you've considered dropping all the vowels, switching a few letters with numbers that look similar or making up a new word to create something edgy. While these ideas seem cool in theory, they may not be as appealing to your prospective customer base or investors. Also, there's a chance that the unique name you've created is already taken by a competing business.
Given that your business' name is the key part of your brand image, you need something that is well-crafted, tailored to your industry and will look good on your business plan when you apply for one of our business banking options. Follow these four steps to help your idea become a household name:
- Short and simple: Consider the biggest brands in the U.S.: McDonald's, Wal-Mart, Target and Whole Foods. None of those names are long, which makes them easier to remember.
- Descriptive and specific: If you're starting a paper sales company, Morning Sun Inc. doesn't convey the product and services you're offering. Tailor your name to what you're providing to consumers, but don't get too descriptive. Paper Sale Co., for example, may be bland and forgettable.
- Functional: Your business' name is more than something to slap on the side of a building. It will appear on all branding materials and may even be part of your logo. Plus, the name won't always be set in Arial font as it appears on your business plan. Think about how it will appear on social media sites, fliers and your website.
- Catchy: Say your name ideas aloud. Do they roll off your tongue? Are they something you can imagine people easily saying in conversation?
For more information about how you can grow your business, contact Landmark Bank.
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