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Tuesday, Mar 31, 2015

Your business name is important

Business Beat


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A business name is so important as it communicates what the business does and how it can help its customers. Basically it represents in words what you do, and it must be vetted very carefully to ensure it says the right thing.

I recently went on a bicycle ride sponsored by Sunshine Cycles. They hold group rides every week, which I enjoy very much.

During one ride, I struck up a conversation with the guide, Brady Irwin, who is the manager at Sunshine Cycles and part owner of the business next door called The Science of Speed. We talked a lot about his business goals and I asked Brady what The Science of Speed did. He explained to me that it helps runners and cyclists improve their endurance and speed for competition.

To accomplish this, they use neat computer technology that, among other things, is able to optimize the fit of a bike to an individual person. You would be surprised how much difference a small thing like seat height or handle bar elevation can make in both speed and endurance.

At one point during our conversation, I commented that I had no idea what the business did until just now when he told me. He seemed surprised, but he had been doing this type of work for a while. To him, the vernacular was not foreign, but to me - and I suspect to other potential customers - it was.

Putting on my mentor hat, I asked him what the business does most. He said athletic coaching to increase speed or endurance. At this point, I encouraged him to change the name of the shop to something that would convey that more clearly to his customers. Since nothing really novel or unusual came to mind at that moment other than "speed and endurance coaching," I suggested that he consider using focus groups to help ferret out a name that would really speak to potential customers.

When all is said and done, your business name must clearly state what you do. For example, something like Jones Services could be just about anything; whereas, Awards4U leaves little room to wonder. Aegis Business Technologies is clear and they have changed their name several times as their services have evolved. Tallahassee Powder Coating is pretty clear but Bill's Sales is of questionable value. The bottom line is your name must be crafted to reflect what you do.

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