Naming Your Company

04/27/07 - 12:00 PM EDT

Marc Kramer

  • Plants: People will select plants to convey a certain image. People use certain types of trees and plants such as cacti, maples, sunflowers, roses and so on. A commercial real estate company in Chicago is called The Rose Group. The image of smelling like a rose is one that appeals to a lot of companies.
  • Service/Product Names: A client of mine used as his company name the name of the software he developed, ReviewNet, which evaluates information technology professionals' skill levels, to boost the name of the company. One of my ventures is called Bizlaunch; the name tells you that the service helps people start businesses.
  • Wealthy-Sounding/Historical Names: Some people like names because they sound upper-class or sophisticated or are connected with a president, such as Rockefeller, Lincoln, Washington and Jefferson.
  • Unusual Names: A friend of mine chose the name Antiphony for his consulting practice. The unusual name triggered a call from me to ask him what he does. The downside of an unusual name is that sometimes it's hard for people to remember, or they can't mentally file it.
  • My preference is to choose names that are easy to remember and for the most part identify what you do, such as ExpertSpeakers.net, which provides business professionals as speakers. A good name can keep your company in the mind of existing customers and make you more appealing to prospective clients.

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    Kramer is the author of five business books on topics related to venture capital, management and consulting. He is a faculty member at the Wharton School of Business at the University of Pennsylvania and the veteran of over 20 startups and four turnarounds.
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