The value of a good company name struck me en route to spring skiing on Sunday. Flying by on the freeway I suddenly noticed two distinctive names that seemed to stand out in the row of businesses along the highway.
Stonedge and Simple Signman.
Memorable don't you think? A catchy, meaningful and memorable name is always a huge advantage in building brand recognition and corporate identity. Especially if it is a good fit to the business and its strategic positioning.
In working with entrepreneurs I often have to get them to re-think their planned business name after we've completed a thorough review of their corporate strategy and marketing communications plan because it is simply not consistent, not supportive, and often in direct conflict with the message and the corporate identity. For example; "J&B Java" for a retro '60's style diner and gift shop. Or "PBX Services" for an architectural and interior design consulting firm. It's worth the extra effort to try and be more creative and consistent with your marketing image.
You may want to invent a new word for your name, like Yahoo or Google, but unless you can spend a fortune making it known and putting it everywhere, like Starbucks or EXXON, then try something that is more meaningful and memorable.
Imagine the additional business that comes from customers who will instantly recognize who you are and what you do, as well as those customers that will more likely remember you for next time. Think of a good name as a valuable silent salesman - always working for you.