Starting an E-Commerce Business: Baby Steps
It's All in the Name
You have your business idea, you've conducted your market research, your preparation is complete and now you are beginning to get butterflies in your stomach from all the excitement that comes with starting your own business. So what's next? The Name.
You should start considering names for your company in the beginning stages of the development of your business. Use a serious name for a serious company and a fun name for creative company or a company that markets towards children. But keep in mind that the name of your business must earn the attention and trust of your potential customers.
While selecting your company's name, bear in mind the qualities you would like your company to portray. If you want to represent a very aggressive, high tech, corporate and cutting-edge company, you should not come up with the name like 'Sloopy' or 'Scroochy' .
Important Points to Consider In Name Selection:
• Shorter is better. It is easier to remember names like LogoBee or Nike as opposed to 'Kransferst Bayer Colombo Association of Michigan'.
• Make sure the name is easily pronounceable. It's very hard to pronounce 'Shmakhtnik', 'Kchichkus' or 'Xsassassas'.
• It may be helpful to have the name associated with your company's philosophy. For example, a strong solid company should use a strong, bold name such as 'Bamm,' 'CastleDom,' or 'Gong.' A high-tech company could use a more creative name such as 'Ampex,' 'Freebee,' or 'Ciriu'. Design companies can use even more creative names such as 'Venturius,' 'BlueFrog,' 'BlackInc.'
• Try to relate the company name to the field of business. For example, a food company - 'Bacon House,' an office supplier - 'BluePin,' a construction company - 'GoldenBrick.'
• Create a recognizable image. Come up with a meaningful name by combining nouns, adverbs and adjectives such as: 'Penguin Solutions,' 'Flying Frog,' 'Walking House,' or 'Yellow Pot.'
• Do not forget your business's target market. Home insurance companies target a more mature market. It would be absurd to use a name like 'HipHop BangBang Solutions.'
A good way to test out your company name is to tell it to your friends and ask them if they remember the name in a week.