Is a Rose Still a Rose?
Choosing Your Business Name

Shakespeare tells us that a rose will smell just as sweet no matter what name we call it. However, names are very important, especially when you are choosing one for your new business. Put a lot of thought into your name to promote the best customer and investor relationships possible. Naming a business can be difficult, but by thinking the decision through, you can be sure to choose a name that will help your business succeed. 

If you are stuck when it comes to naming a business or product, there are professional naming companies that can help you with this task. Your name will often be the first impression a potential client, customer, or investor gets of you and your company, so you want to be sure that your name meets your company’s needs. A naming company will help you do this, but their fees can sometimes be very expensive. Naming your new business by yourself is possible with a little imagination. 

Realize that your name doesn’t have to be witty or imaginative to work. Memorable is the key idea when naming your business. If you are a professional starting a sole proprietorship, perhaps your simply want to use your own name as your business’s name as well. Dr. Joe M. Smith, MD is an appropriate name for this type of business because it helps your customer connect to you on a more personal level. A variation of this is possible if you intend to hire others. Perhaps instead of Jane Doe, CPA you can use Doe and Company, CPAs. These are all good ideas for a professional type of company. 

However, if you are selling a product or other type of service, you probably want a more creative name. Most people agree that starting a business with a name that reflects the company is most beneficial. For instance, if you are going to start a bakery, you want to include the word “bakery” in your name. This helps new customers find you. Avoid hard to spell or hard to pronounce names for the most part. Customers will remember “Ben’s Bakery” more easily than they will remember “The Bourgeois Bakery.” 

Consider also using more imaginative names to promote exactly what your business is offering. It is easier to recall these names, and people may want your products simply for the name. For example, there is a food service business in Pennsylvania called “We Kill it and Grill it” There’s no guesswork as to what kind of business this is, and people find the name humorous and want to try the product simply to say they have. Of course, you don’t necessarily have to employ humor in your name, but the concept is there all the same. Names are important—don’t overlook this vital decision when starting your own business.

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