What's In A Name?
While choosing a name for a new business can be creative and fun (in my opinion!) it can also be a bit tricky. Whether you're launching a Homeowner Referral Network (HRN) or any other type of business, your name needs to be memorable and it also needs to convey what type of service you'll provide to your prospective customers. Not to mention that there are also several legal issues to consider.
Below are a few tips on how to choose a name that will best suit your business:
Some business experts believe that the best names are the most creative ones while others think that a business name should be descriptive and informative. In my experience any type of name can be effective if it's backed by the appropriate marketing strategy and partnered with a descriptive tagline and logo.
For example, when I launched my HRN, my husband and I created a list of potential names for my new business until we finally hit upon the name "Home Remedies". I loved the name instantly however I knew that it would be a challenge to let homeowners know that I wasn't in the business of selling homeopathic medicine. In order to explain my services more clearly, I worked on developing a descriptive tagline to partner with my business name along with a logo that incorporated the shape of a house or tools.
When selecting a business name, your first step should be to decide what you want your name to communicate. The more your name communicates to customers, the less effort for you to explain it.
Next, try to define the qualities that you want your business to be identified with. For example, do you want your HRN to convey a local, hometown feel or do you want a more corporate image? The typeface, in conjunction with your business name, will help you define your business image. You can brainstorm by looking for words in dictionaries, books and magazines to generate ideas. Once you have a list of your top choices, share them with family, friends and industry related professionals to get their input. And, if you're launching an HRN, you'll want to be sure that a few homeowners are on the list since they will be your prospective clients.
And finally, keep in mind is that your name shouldn't be too long. It should be easy to pronounce, especially when you answer the phone or have to leave an answering machine message. If people can't pronounce your name or understand it when it's spoken, they will avoid saying it.
If you're still interested in starting an HRN in your area or have additional questions to discuss, please let me know and I'll be happy to contact you.
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