Complex business names reflect a fundamental truth: one of the characteristics of successful people is their ability to make difficult things seem simple, which is evident in the complexity of their ideas. Some people believe that the hardest part of starting a business is choosing a name. People who believe this are the main reason many businesses fail in the first year. It’s not enough to have a trendy name on your business card. Many factors come into play when choosing a business name. Therefore, read the following essential secrets on business name ideas. Check out Business Owners Idea Cafe to find out more about the psychological hook behind company names.
State Laws
In the United States, there are individual states that can enact laws regarding business names. Many states require you to register a business name. If you are the sole owner of a business, you must file an alternate business name or owner form. Many people starting a business or small business contact professional associations. They are familiar with the laws and can help you determine if the name qualifies.
Copyright Issue
When developing business names, you should also consider whether your business violates copyright laws or the property of others. You should not assume that a small business cannot be considered by larger, legal businesses. Jamocha, a local coffee shop in El Paso, Texas, was sued by a large company because Jamocha’s name infringed on one of its “copyrighted creations.” The small business had neither the means nor the power to sue the company, so it changed its name. The small business lost profits because it had to reprint everything from government documents to menus.
Appealing Names
Even if all laws are followed, human psychology must be taken into consideration. A catchy or cute name may be enough to attract customers, but that’s just the beginning. Although many people will remember and comment on pretty names, they will not enter the business or make a purchase. Business names need to be more than just a name. The business name should tell potential customers what the business is about.
Relevant Meaning
When choosing a business name, the first thing to consider is how it will be perceived by its customers. Business image professionals can make sure the name means the same thing to the target audience as it does to the owner by studying the psychological impact and ability to motivate human behavior. A memorable name is important, as is a clear description of the company’s product or purpose.