Thursday, August 17, 2017

How to Use Your Business Plan to Create an Awesome Company Name

From Bplans:

Everyone knows that a business name is important. It is the single most used aspect of your future brand. Ideally, yours will be mentioned by reporters, shared by referrals, and hopefully remembered by customers when the need for your solution arises.

A great name like PayPal can introduce your company, hinting at what makes it unique and interesting. PayPal is a payment solution with an upbeat brand and uniquely easy user experience—their name brilliantly captures this value proposition.

An intriguing name like Uber can help build buzz, causing people to wonder, “What is that?” An emotive name like SalesForce can resonate deeply with potential customers, lending a sense of authority.

Naming is often one of the first business activities where the rubber meets the road—where an idea becomes a reality...

We have discovered that a great name evolves from an excellent business plan. A company that has gone through the process of defining their business by writing a business plan generally has a greater sense of self-awareness than a company that hasn’t.

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