Entrepreneurship- Business Ventures on which the foundation of the entire economy is based, business collaborations which decide the future and course of your revenue generation processes and initiatives that shape and epitomize the functioning of an economic system- is considered as one of the primary factors of production encouraging growth and development sentiment in the economy and allowing the business owners the freedom to expand their business and bring about corporatization in the process of analyzing business translations and incorporate moves that would generate and accelerate the process of profiteering in the economic environment.
Following are a few fruitful suggestions which help in deciding the name of a business venture-
The name should sound good while reading out
The name decided for the business venture should sound good and ambient when spelled out aloud. The owner should strike upon a name that should not become complicated and is too difficult to pronounce. It must be remembered that the names would be pronounced on social media platforms and other platforms of video and audio communication. For example- Ammar Jewellers Works
The name should have an easy spelling
The second criteria are that the name of the business venture should have easy spelling which will be easy to write. Complicated names may lead to errors in spelling thus creating a negative impression in the minds of the consumer who would not be inclined to getting involved with the business transactions. For example- Mustafa Food Center
The name should carry a meaning
Meaningless and Fanciful names do not generate any productive results for the growth of your business module and would ultimately lead to the failure in generating profit for the ventures undertaken by your business enterprise. Meaningful and substantial names are the ones that leave a lasting impression in the memory of the consumers.
The name should convey a benefit
The name decided for the business enterprise should be capable of conveying emotions, feelings, and a sense of attachment to the consumers. If they feel disconnected from the name of the business venture, products sold or the services provided by the business enterprise would not carry any meaning.
Avoid providing repetitive names
Avoiding repetitive names is one of the prime considerations for naming the business venture. Using wrong spellings might sound attractive but people would not have the time to look up the dictionary to understand the meaning of your business name before they get into a transaction with you.
Providing originality to the names
The concept of originality associated with the name of the business enterprise is very important for the fundamental growth of the business module. For example- Huzefa Textiles
Using initials carefully
The use of initials in naming the business enterprise is to be done minutely and carefully. When you use initials you should be aware of the impending conclusions that are associated with giving such short names to any business enterprise and therefore carefully using the initials should be one of your primary objectives.
Be Specific with the name provided
Specification associated with the name helps in eradicating any redundancy that might have crept into the minds of the consumers who decide on going for a business transaction with the venture. The specification gives a perfect idea about the fact that the business venture is involved in the work of a related production of a particular good or service.
Avoid generalizing the name of the business venture
Giving a generalized name is not of much help as the consumers would have no idea about the kind and type of products and services provided by your organization and would thus not get involved in taking the pain of understanding your business module and infrastructure.
Trademarking the name is important
It is very important for providing a patent or a trademark to the name that you have just given to your business venture or ownership. Trademarking helps in validating your business venture and thus piracy issues can be avoided tactfully.
Thus, while naming your business venture you should be careful about the aforementioned points that would incidentally help you in resolving the issue and provide you with a suitable name for your business enterprise venture.
If you are looking for the right solutions for your small or medium business, or even substantial and appropriate advice or mentorship, click here