Does Your ‘Company Name’ Makes A Business Sense?
Identifying a Company name that sets a right direction for the Company’s goals is the need of the hour for many Startups and traditionally managed Small & Medium Enterprises (SME’s)
Like it’s said “The beginning of wisdom is to call things by their right names”, the proverb stand true in all times of life. Naming a company in a right manner can add life in its vision and help one to build an appropriate communication for its promotion.
Learning and passion to understand brands has always been on top of my mind. Here I would like to share few insights on how a proper company name can make a difference in your lives.
Company name should make a business sense
People love to do business with those who makes sense with what they are dealing with. The company name should reflect the core ideology of the business to the desired audience. Your name, helps you to remain rooted in the core meaning of the timeless values, that are beyond making money. Your name reflects an image that means lots to the company’s standards, people, products, services and offerings. In the long run, your company name, helps you to drive innovation, competency and sustainability. It helps us to set our vision in right direction and build policies for our company, accordingly.
Company name should have meaning and power too
Every name has some meaning to stand for and inturn reflects an emotion out of it. A name helps us to understand ourselves as a company. It gives us a sense of belonging and a reason to stand for. It helps us to drive ourselves as per its profound meaning and aligns our behaviour and actions accordingly.
To make a strong connection with its audience, a company should Iiveupto its name for which it is known for.
Company name should define the class
Positioning your company in a particular class begins by naming the company well, such that the name carries the responsibility of serving its respective class and getting paid for a fair exchange of values that are being offered.
Company name should have the freshness of longetivity
The name should not depend on any particular trend. Because, as the trend goes, your company name shouldn’t feel like an outdated style. The name should be ideated on the fundamentals of what actually the company wants to do and would like to be remembered for. The name should hold the freshness and carry a novel approach for ages to come. It should have a strong recall value that reflects its purpose of existence over the years. Above all, your company name should have the potential to stand the test of time and live long beyond one’s lifetime.
Company name should be registered timely
Beyond the art and science of identifying a company name, lies its legalities. Trade mark your name once you have figured out the one. It will protect your good will which is priceless with years to come.
About the Author
Deepak Nanekar is the Strategy Director of an Award Winning, Mumbai Based Advertising Agency, Golden Mean. He has more than 16 years of experience in building healthcare brands and nurturing them to grow. He is known for the deep understanding of Brand advertising and its communication flow through various channels.