When you open a business, in a sense, you are causing a new birth to begin. This new birth was created from an idea by you or your associates. It will have its own bank account, it's own federal identification number, it's own credit accounts, it's own income and it's own bills. On paper, it is another individual! Just as if you were choosing a name for your own unborn child, you need to spend considerable time in deciding upon your business name.

There are several reasons why a good business name is vitally important to your business. The first obvious reason is because it is the initial identification to your customers. No one would want to do business with someone without a company name. This makes you look like an amateur who is very unreliable. Even if you call your company "Kevin's Lawn Service," a company name has been established and you are indeed a company. Customers will feel more secure in dealing with you.

Secondly, a business name normally is an indication as to the product or service you offer. "Mary's Typing Service," "Karate Club for Men," "Jim Dandy Jack-of-all-Trades," "Laurie and Steve's Laundry," "Misty's Gift Boutique," and "Star 1 Publishers" are all examples of simple business names that immediately tell the customer what product you offer.

Most people will choose the simple approach when naming their business. They use their name, their spouse's name, their children's names or a combination of these names when naming a business. The national hamburger restaurant chain "Wendy's" was named after the owner's daughter. However, research has proven that these "cutesy" names are not the best names to use for a business. Many experts claim that it makes the business look too "mom-and-popsie." Of course, this depends on the business. If you are selling something that demands this theme to appeal to your market, then use this approach.

I completely believe the initial success of Yahoo! and Google had a lot to do with their names, but the best approach to naming a business is a combination name, containing both a "catchy" element, and a "descriptive" name. Catchy names that stick in people's minds after the initial contact, such as "Sound Solutions," "Direct Defenders," and "Strictly Class," are all good examples of catchy names, but tell you nothing about what they do or sell.

Some of the best business names I've seen are "Rent-A-Wreck" and "Two Men Will Move You." These types of names relate to your product or service and also serve as a slogan for your business. This is a big help when marketing. A similar approach is a name like "Domino's Pizza." This is catchy, and tells you exactly what it is.