I hadn’t been working long when someone asked for my business name. Was my given name enough, I thought? Apparently not. Even though you may be a contract accountant working part-time from the spare room in your basement, you don’t want your business name to conjure that image with prospective clients. A professional business moniker will make your practice more credible, memorable, and marketable.
While some companies opt to use invented (Oreo), experiential (Infoseek) or evocative (Yahoo) names, a financial professional is probably better off selecting a business name that alludes to the services he or she provides. People appreciate being able to recognize a business type simply by reading the name. It also contributes to a potential client’s ability to remember the name and corresponding services when they need them later.
As you ponder which name best suits your company, you may find Entrepreneur.com author Brad Crescenzo’s startup naming tools helpful. In a recent article, he suggested 5 resources to use when brainstorming a name for your startup. We share three of those resources here:
1. Turn to Your Community for Feedback. Your local community is the best resource in helping you determine whether or not a business name will attract prospective clients. Crescenzo suggests, “After you have come up with some ideas, turn to those you trust. Your friends and family make a great initial test group. Organize your potential ideas, present the concept and create a survey to keep the resulting feedback organized.”
2. Perform a Google Search. Google has lots of applications that would help you narrow your options while informing you of duplicate business names. Its Adwords’ Keyword Tool enables you to see the popularity of various words and phrases, including the traffic generated by them. Using the patent search function, you could search the entire US patent database to see if any business has already registered your desired business name. Google Trends enables you to look through current and past search trends to see if your business name has ever made a showing.
3. Register the Name with the Government. Follow the trademark process and register your business name. Some states require sole proprietors to register any business name, other than their own given name. Before selecting a name it’s important that you research your state’s requirements. Also consider registering for an Employer Identification Number (EIN), also known as a Federal Tax Identification Number, at IRS.gov; it’s easy and free.
Master Your Startup with Proven Marketing Technique
Universal Accounting Center is in the business of helping build stronger, more profitable practices, and we can help you better market your services. Through our Universal Practice Builder (UPB) program, you can attract and retain more clients while building a more lucrative practice. Here’s just a sampling of what you will gain from enrolling in this phenomenal program:
- A guarantee of $30,000 in new annualized billings in only 12 months
- The skills to become a Profit Expert for each of your clients
- 12 marketing strategies that you can implement immediately
- A process which can produce 15 to 25 qualified leads per month
- 3 months of coaching via telephone and Internet
- Training to use QuickBooks to attract more clients
- Access to a plan proven to help retain clients
- 5 business assessments
- A customized business website
- An iron-clad guarantee
Go beyond selecting a solid business name, and master proven marketing techniques to grow your practice! Allow us to show you how. Call 1-877-833-7909 now to enroll in the Universal Practice Builder Program.
Resource
Crescenzo, Brad. “Five Tools for Naming a Startup.” 17 February 2012 Entrepreneur.com