On Small Business routinely reaches out to a panel of entrepreneurs for answers to some of the most pressing questions facing small business owners. The following responses are provided by members of the Young Entrepreneur Council (YEC).
Q: What’s the secret to choosing the perfect company name? In addition, should you even consider changing your firm’s name?
Josh Weiss, president of Bluegala in Woodbury, New York:
“The most important factor was something short (less than 10 characters), easy to spell/pronounce and memorable. I used a bunch of online tools which searched for available domains. I had the idea to look for a color+word and tried various colors out and once bluegala came up I knew that was it.
I was tempted a year or so ago to switch to a name with the word ‘dress’ in it since a lot of my competitors do this and Google heavily favored domains with the keyword in the URL. I ultimately decided against it and Google has recently made URL keyword matching less valuable for search engine placement, so I am no longer tempted to switch names.”
Kenny Nguyen, CEO and founder of Big Fish Presentations in Baton Rouge, Louisiana:
“Our company was originally named Future Genius Solutions, not Big Fish Presentations. While it’s a name, it had no purpose. So when asked what’s the story behind the name, none of our team members could explain. We thought to ourselves, based on what we do for our clients, what’s a name that’s reflects it and is memorable?
We eventually came up with Big Fish Presentations because we help our clients — “small fish” — present like “big fish” in a vast ocean of market. We wanted a name with a story behind it, because that’s what we believe creates a memorable name and brand.
Darrah Brustein, founder and author of Finance Whiz Kids in Atlanta, Georgia:
“For my first company, in the merchant services arena, we did switch the name. It originally was composed of the initials of a former partner and not only did we not want that, but it also did nothing to showcase what our service was (it did us a marketing diservice by being vague).
So, we changed our name to something that was short and sweet, absent in our industry, and showcased our value proposition.”
The Young Entrepreneur Council (YEC) is an invite-only organization comprised of promising young entrepreneurs.