The Name you choose for your organization can significantly increase its chances of success.
Ideally, the name should embody an image that would indicate to potential customers what you do and what needs you can meet.
The easiest way to do this is to choose a name that mentions your business profile.
For example, the names "Plumbing equipment", "Timber", "Hardware", or "Shoe Repair" will instantly inform consumers about your organization's profile.
Many entrepreneurs prefer to use their own name in the name of the company, so that in their relations with customers there is a kind of trust that assumes that consumers will be served quickly and efficiently.
Examples of such names may be "Petrov's Haberdashery", "Sidorov's Sporting goods", or "Anna Ivanova's Women's clothing". This method can also serve as an effective marketing tool, since every appearance in public Anna Ivanova reminds not only of herself, but also of her business.
Many businesses use names that evoke memories of certain images. Most often in these cases, family ties ("Grandma's pies") and fairy-tale characters ("snow White and the seven dwarfs") are exploited.
In these cases, it is important that the company name matches its image. If your name is not included in the organization name, make sure that the same name is not used by anyone else.
This service will not cost you much. It often happens that a company spends thousands of dollars on signs, forms, business cards, and advertising, and when it opens, it finds that another company has long existed under the same name. As a result, this leads to tedious litigation and the need to change the name. Both require a lot of money and time.
In addition to the name, another distinctive feature of the company is its brand or trademark. For regional or national companies, the logo can be an effective marketing tool, but for small local businesses, the brand name usually does not represent any value. Small organizations should spend their limited financial resources more efficiently.
Before approving the name of your organization, find out what your friends and family think about it. Ask them if they think it's appropriate for your business. Sometimes the owner of the company names his child spontaneously, without conducting the necessary research, and the result of such haste is often deplorable. After learning the opinion of close people about the proposed name, you can choose a name for it that will fully and accurately reflect your type of activity. These things will help to increase sales and profit.