Aldain Reid
Contributor

In my last article, I sought to expose the value of a strong brand to entrepreneurial success. One of the most common issues raised by the feedback for the last article was the importance of choosing the right name for your brand.

TRADITIONAL APPROACH
Traditionally the choice of a name for specific brands has followed a particular convention, in that the selected name would be directly related to the product or service being offered. An ideal name would therefore be considered as one that would allow clients to quickly identify the nature of the enterprise.

Increasingly however, major brands like Google and Apple have emerged in the global business environment and have demonstrated that where brand dominance is concerned, name familiarity is becoming less relevant.

THE AUTO CRAFT STORY
Ronald Chang, one of the leading wholesalers of hospitality and janitorial supplies in Jamaica is not fazed by the importance placed on the name of his thriving business.

Chang's wholesale outfit goes by the name Auto Craft. At first glance, this name would connote an automotive business, but they don't.

"We started back in the mid 70's doing auto repairs and maintenance but as the market transformed due to the influx of Japanese imports, our business floundered and we had to make some hard decisions," said Chang

SCOUTING FOR NEW IDEAS
So about 15 years ago, Chang retired his auto shop and began his import and wholesale distribution business.

He decided to keep the name, but was it a deterrent? "Not at all," said Chang. "In fact we continue to grow each year, our focus at Auto Craft is on providing quality customer service and low prices for our wholesale clients and that keeps them coming back, not our brand name," he said.

But Chang though admitted that although his company is unaffected by its name, the choice of a suitable name is an important consideration for start-ups.

Building a strong business requires a strong brand name. Follow these tips and you should be well on your way.

Aldain Reid is a serial entrepreneur and is currently serving as the president of the Young Entrepreneurs' Association of Jamaica. He may be contacted via his entrepreneurship blog at www.aldainreid.com

CHOOSING THE RIGHT NAME
The process of choosing a name for your company should start with the knowledge that the chosen name must ultimately be a reflection of how you desire it to be perceived; for example corporate, fun, quirky etc.

• First identify the market segment which you are seeking to attract. You must know who your customers are and the demographic within which they fall.


• Brainstorm ideas for name options with colleagues and encourage frank feedback.


• Ensure that it fits with the image you intend to portray for years to come. Bear in mind that shorter names are easier for clients to remember.


• Your website will be a vital part of your business. Before committing yourself to a name, make sure a domain name is available. Extensions like .com are still the preferred choice for businesses.


• Add an extra layer of protection by copyrighting your brand name.

AVOID THESE

• Stay clear of names that are hard to pronounce or spell, names that are a play on words or acronyms. They may seem clever or even funny to you, but is a common source of frustration for customers


• Be careful to avoid trademark or copyright infringements. I am reminded of the court battle a few years ago between local restaurant McDonald's with the international Fast Food giant of the same name. This turned out to be a costly mistake by the local entrepreneur.


• Avoid numbers or dates in your company name. They tend to go out of style quickly.


• Unless absolutely necessary, avoid geographic landmarks in your company name. This creates difficulties when expanding into new markets.