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| Business |
 What’s
In A Name?
Creating A Distinctive BusinessBy Tanis Arcuri of Arvic What’s in a name? I know...that cliché has been used hundreds of times to provide a quirky article or headline title. But seriously, what is really in a name? What does your name say about you? Is it exotic, common, strong, or do you despise it? Do people remember your name, or pause in thoughtful reflection when they hear it? Now let’s look at your business name...is it easy to hear when you say it over the telephone? Is it easy to spell? Is it easily recognizable? What does your business name say about your company? Finding the right business name is a major challenge for new start-ups. A new business name cannot be registered if the desired name conflicts with an existing name, and with the significant increase in the amount of new businesses starting up, more and more companies are not able to register the name they want. A successful business name includes a “distinctive” and a “descriptive” element. Your “distinctive” element is what sets your company apart from everyone else in your industry. Having your business name accurately reflect your corporate image and be recognizable to your clients should be your ultimate goal. Make it marketable and memorable. A “distinctive” name needs to be unique, should not be a common word that can be found in the dictionary, or it should be an interesting combination of different words. These qualities all make a great business name and trademark. Always keep the idea of trademarking your “distinctive” element in the back of your mind. You might be starting off small now, but do not let your business name limit your potential. Trademarks are the ultimate name protection, and if you have a name that can be trademarked…then you’ve got a name you can market. Think of Xerox. This is a fictitious and unique word. “Xerox” leaves a lasting impression on clients. In contrast, the name “A & B Consulting Inc.” will be forgotten within minutes of it being uttered. Consequently, initials are virtually impossible to register. Do not make them your distinctive element. They pose too many name conflicts. Plus, they are boring. Your “descriptive” element is very important as well. This will tell your customers what you do. Pretend you are skimming this magazine and you saw these two business names, “Loafin’ Around Bakery Ltd.” and “Apex Designs Inc”. You know immediately that “Loafin’ Around” is a bakery (and you probably chuckle at the name...which is great marketing) but you are unsure of what kind of “design” work Apex does. Is it interior or architectural design, landscape design, or clothing design? This name is not descriptive enough to present a clear picture to you, the potential client. Don’t make us guess what you do. The definite trend in the last few years is for people to try and stay away from including a descriptive element. Many business owners feel that describing their services can limit them. In a way, it can. Apex may provide both architectural and interior design services. Therefore listing only one service in the business name can certainly be seen as limiting. However, registering a name without a description is too vague, and often not registerable. Most often the business name is just not strong enough without the description. I would not suggest trying a business name without a descriptive element unless your new business is going to invest in building a VERY distinctive brand name, such as “Xerox”. Since the entrepreneurial spirit is so strong in Canada right now, it is becoming more difficult for businesses to find and register a name. A fantastic “distinctive” and “descriptive” element in your business name will simplify your incorporation processes and it will help in your marketing and trademarking efforts. Accurately expressing your business services and wares in your business name will make your company name stronger as well as more identifiable to customers. Don’t waste those first marketing moments; tell us what you do right in your name. What is your business name going to say about you? Tanis Arcuri is the marketing director of Arvic Search Services Inc., which helps individuals & small businesses get online & stay online through domain registration & e-commerce capabilities. Reach Tanis at tanis@arvic.com , or look at their services at www.arvic.com |