As an entrepreneur, you always had your dream business in mind. Regardless of the industry or niche, something possessed you to branch out and start on your own. As your dream came to fruition, this newborn business needed a name, and so began one of the most exciting journeys for a young company.
Some business owners view naming a business like naming a baby. They realize it’s an important step and don’t want to be made fun of in this playground of a marketplace. I’ve never named a child as I don’t have any of my own yet, but my wife and I have discussed names as most couples do. Since starting Absolute Marketing Group 30 months ago, I have been a part of more than 20 new business trade name projects, so when we do decide to start a family, I’ll be prepared.
There are three main reasons to name a business
1. Launching a new business
2. Merging two businesses
3. Re-positioning an existing business
No matter what the reason that you are naming a business, I recommend having a business plan in place before naming your business