Naming your business is one of the most important decisions you'll make as you venture out into creating your own income.  Interestingly, I find that not having a name they feel good about holds back many start-up owners from opening their business boldly and confidently.

Your name not only serves as a first impression of your business, it is the heartbeat of your brand.  Branding is about bonding -- and bonding should eventually lead to profits.

You want a name that speaks to your target customer & creates confident, positive thoughts and feelings.  Your logo and colors should align well with your name, and further the emotions associated with it.

So how can you come up with a magnetizing, legally available, URL-available (that's your www internet address) name?  Here's a three-step process I find works well:

Step 1: Brainstorm.  First, write down anything and everything that enters your mind, especially ideas that seem meaningful.  Do a brain dump.  Resist self-editing.  And yes, it's fine to ask others for input as well.

Prime your mind with the following questions:

· Who are my target customers?

· What are they looking for?  What problem do they need to solve, or satisfaction to gain?

· What's my competitive advantage (e.g., quality, speed of service, niche product, etc.)?

· What descriptive words or terms would I apply to my company?  Can I combine a few of them to create catchy new word or phrase?  Instead of "Sally's Breads", perhaps "Hearth Warming Breads". 

· Do any symbols come to mind?

· Will my name accommodate my growth?  If you diversify from bread only, you can alter your name to "Hearth Warming Bakery".

Step 2: Evaluate your names. Narrow your list to five to eight names.  Eliminate any name that you can't answer "yes" to on these five questions:

1. Does it generate a positive connection that'll appeal to customers?  Words carry both a literal meaning and an emotional meaning.  You want your business name to have a "voice" with your prospects.  You may decide to go descriptive ("Bob's Auto Supply") or suggestive ("Old World Travel").

2. Is it easy to spell?  Can your clients find it in the phone book or "Google" it without trouble?  Usually words that are easy to spell are also relatively short. Avoid “clever" names that require analysis from your reader (e.g., "CU4 Dinner").  Remember "Encompass Group”...?

3. Is it easy to say?  It should roll off your tongue -- and most important, your customer's.  One of my first business names -- "EnCompass Group" -- was not a rousing success.  It didn't clearly communicate either emotions or meaning about the business, and I continually found myself having to spell it to my prospects.  Needless to say, it didn't stick around very long.  And, if you do business in a multilingual area, ensure your name has no negative connotations in other languages.

4. Has someone else already registered it?  Start by checking with the U.S. Patent and Trademark Office (www.uspto.gov).  Also, you'll discover if a local business is using the name if you call or go down to your county courthouse to the Office of Doing Business As (DBA) or Assumed Names.

5. Is it available as a web domain name (URL)? (.com, .net or .org, preferably.) This is less important if the internet won't play a large role in your distribution methodology.  However, virtually all businesses these days maintain some kind of web presence.

Now, narrow down and rate the finalists:

· Is it interesting or unique?  Generic names like "Furniture for Less" are descriptive but not emotionally compelling. What's more, generic names usually have less stamina from a branding perspective, since our minds tend to remember things that are unique.  The exception here is if you create a brand around your name.  Often, you may get potential customers enamored with YOUR reputation, and therefore interested in doing business because of YOU (Ex. "Barbara Johnson Realtors").  If this is the case, you must ensure prospects will prefer to do business by reputation, not emotion.

· Do you visualize anything when you read or hear the name?  "Sparkling House Keeping" might bring to mind a diamond or prism. The addition of a visual element reinforces the name, making it more memorable.

· Is it descriptive? If it's not, that's okay. You can always add a tagline or byline for description.  In my business, "Chuck Bowen Coaching" is accompanied by "Live by Design!"