Unusual Business Ideas

When you just made your decision about starting a business – what’s your first questions of paramount importance (apart from business idea, of course)? To find the right name for the company!

Choosing a name for your business is a creative and enjoyable process, but at the same time extremely responsible! Customers will deduce a lot from your business name and first impression counts.

It may be tempting to try to stamp your individual personality on your business name, but there are many other issues to consider. Being objective and choosing a name that reflects your business strategy can be more valuable. And that’s where the biggest trap is! Sometimes when you start your company you’re 100% sure about what you’re going to do. For example you decided to open a flower business and you choose a perfect name for this business (“Happy florist” or “Red roses” or God knows what). But when you start working you realize, that this business idea doesn’t work and you come up with a better one which has nothing to do with flowers. As a result you’ll have to change waist your time and money to re-register the company.

Another tricky thing is to reflect the market you target in the company name. As an example I can tell about my own mistake: when I opened my travel agency I was absolutely sure that my customers will be students and youth and it was reflect in the company’s name. Later, when I found out that this market is not as profitable as I was expecting, I redirected for other markets, but it wasn’t possible to change the name. And it’s not only a questions of time and money, the problem was that this brand was already recognized, I spent a lot of finances on marketing and advertising and to change the name would mean to waist all this for nothing. So now the name of my company doesn’t fully answer its strategy and reputation which gives me a lot of headache….

So, the conclusion of this post is simple: think twice before naming your business. And if there are still any doubts – choose a neutral name and just make a separate brand for each of your business activities.