Create a Great Business Name

A great name is the beginning of a great brand. It should be memorable and create a certain feeling when heard. Here's a quick how-to on creating one and making sure it's not already used.

Here's How:

1.Brainstorm. Think about how you want people to feel when they hear the name. Write down the words on paper and then categorize them by primary meaning.

2.Relate. Think about related words and phrases that evoke the feelings you want. Hit the thesaurus and find all the synonyms for your words and phrases.

3.Relate more. Find out the Greek and Latin translations of your words. Figure out what colors, gemstones, plants, animals, etc., relate to your words.

4.Experiment. Start playing with combinations of your various words and partial words. Don't be judgmental now - just make a list.

5.Reflect. Review your list and just give some thought to each name. How does it make you feel when you hear it?

6.Communicate. Go over the list with someone you trust. Have them tell you how each name makes them feel, and how memorable they think it is.

7.Prioritize. Throw out any that just don't fit and make a prioritized list of the rest.

8.Check trademarks. Make sure no one is using that name in your line of business. You may be able to use the name in a completely different business, but be aware that it may create confusion for both you and them.

9.Check domain names. You want to make sure that an appropriate domain name is available. You want YourCompanyName.com, of course. If that's not available, you may want to reconsider.

10.Search the internet. Even if someone doesn't have the domain, you still want to see what else is out there that has the same name. That doesn't mean you don't use it if you find something, but you need to know.

11.Check company names. If you're planning to incorporate, check with the Secretary of State (or other appropriate office outside the U.S.) of the state you're planning to incorporate in.

12.Check assumed names. For sole proprietors, check for local assumed names (also known as DBA). In the U.S., you check this with the County Clerk.

13.Stake your claim! Register your assumed name or file your incorporation papers right away. Also, start using either TM (trademark) or SM (service mark). You do NOT have to register them to use them.

14.Get the domain(s). Find an inexpensive registrar and register your domain and any obvious variations on it. You shouldn't be paying more than $10 a year for each, and at that, it pays to prevent poachers.

15.Protect your brand. A U.S. trademark or service mark costs $325. It's a drop in the bucket compared to trying to defend it later. It's not really necessary, though, for a small local business.

Tips:

Avoid generic names based on names, such as Joe's Bar, Sam's Hardware, etc. They're not memorable and are nearly impossible to trademark.

Avoid generic names that literally describe the product or service, like Computer Consulting Company, Appliance Sales and Service, Inc., etc.

Generally, avoid geographical names. Besides not generally being very memorable, what happens if you decide to move or expand? The exception is if you're trying to create a strong local affinity like, say, a neighborhood bar.

Preferably, don't restrict future product or service lines. Be broad enough to include your wildest long-term vision for the business.

Try to keep the name short and easy to pronounce.

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10 Legitimate Business Ideas You Can Start for Less Than $20

1. Webpreneur

It's what everyone who's ever surfed the Web dreams of-just stick a web site up there and watch the cash roll in! Well, that just doesn't happen overnight, but the fact of the matter is it's really not very hard to do. To do it right, start by picking a subject matter you know a lot about. Then get a domain and create a web site. It doesn't even matter what technology you use-just be totally anal-retentive about it looking good and provide plenty of original content. Now find some appropriate affiliate programs-that's where your revenues are going to come from. Next, learn everything you can about search engine marketing and promote the heck out of your site. Last of all, set aside time every week to put new content on the site, delete dead links, and other maintenance. Now do this three or four times, and you've chosen your topics well, you might actually have some decent income from it.

Spend the $20 on: $8 or less for a domain (see our Online Business Guide's list of cheap domain name registrars) and $12 for a year of hosting.

2. Consultant

Getting into consulting is relatively simple. All you have to do is know how to do something better than most people do, and be able to either teach people how to do it or be willing to do it for them. Networking is the key to success in this business, so start by making a list of everyone you know and giving them all a call.

Spend the $20 on: $14 on a box of clean-edge laser or inkjet business cards and $6 buying your first prospect a cup of coffee one morning.

3. Housesitter / Petsitter

Particularly since 9/11, people feel an increased need for security, and housesitting gives them some reassurance while they're out of town. This one's great because it basically requires no particular skills, just trustworthiness and reliability. Be sure to have personal references available, and you'll also need reliable transportation. If you're an animal lover, petsitting is an easy add-on.

Spend the $20 on: $2 on flyers to put up on bulletin boards, and the rest on classified ads in your local neighborhood paper (not a big city-wide one).

4. Professional Organizer

People these days are simply overwhelmed by their "stuff". While there is an ever-growing trend of people wanting to simplify their lives, most of us haven't done it yet. It's not that people really have no clue how to get organized, it just keeps moving to the bottom of the stack, both figuratively and literally. There's a prime opportunity for people to come in at a reasonable rate and get houses organized. And while there is a National Association of Professional Organizers that you can join when you're ready, mostly it takes common sense, organizational skills, and a familiarity with what can be had at your local office supply and The Container Store.

Spend the $20 on: Classified ads.

5. Avon Independent Sales Representative

Cosmetics is a virtually recession-proof business, because it's an inexpensive way for people to feel good about themselves. Avon is the largest consumer direct sales company in the world, with annual sales of nearly $6 billion. In business for well over 100 years, they have both a highly reputable product line and one of the few highly reputable multi-level marketing structures (in fact, they invented it). They also offer fashion and wellness products in addition to their beauty products. And while they bill themselves as "The Company for Women", a fairly substantial number of men have actually been very successful as Avon reps. The secret to making a living at it rather than just a little extra spending money? Build your downline-just like with any other network marketing or direct selling business.

Spend the $20 on: $10 signup fee, and $10 on brochures and a few samples.

6. Personal Services - Shopping & Errands

This is a great one going into the holiday season. Believe it or not, there are people who wouldn't be caught dead going anywhere near a mall, but they're not comfortable with buying certain items online, either. Again, trustworthiness and dependability are the key traits for this. If your car's not reliable, pick something else. Also, you won't need cash, but you'll need available credit on your credit cards, since you really can't use theirs. Consider an American Express or a Diner's Club that don't have preset spending limits. Or use a card that gives cash back reward or frequent flyer miles, and you'll make a nice little bonus for yourself.

Spend the $20 on: $1 on flyers and the rest on classified ads.

7. Desktop Publishing

It's amazing how many people have a computer and still don't know how to make a decent flyer! If you've got a good design sense, are extremely familiar with your word processor, and already have a laser or high-quality inkjet printer, you can get into desktop publishing. Create a really great-looking portfolio for yourself and go door-to-door.

Spend the $20 on: Some high-quality paper to create your samples on.

8. Tutoring

With the growing dissatisfaction with our education system and the huge growth in homeschooling, there's an unprecedented need for tutors these days for kids of all ages-even adults! If you've got a topic you can tutor in, contact the local schools, particularly private ones, and local homeschool groups, and offer your services. Don't be concerned if your topic is highly specialized-even those are in demand.

Spend the $20 on: $14 on a box of clean-edge laser or inkjet business cards and $6 on flyers.

9. eBay Seller

Yes, there really are people who make a decent living buying things at garage sales and flea markets and selling them on eBay. The big secrets? Stick to products you know (or learn before you start) extremely well, package your goods carefully, and provide impeccable customer service. It helps to have a digital camera or a scanner, but it's not required.

Spend the $20 on: Your first inventory at a garage sale.

10. Secretarial Service - Typing / Transcription / Proofreading

Many small businesses and individuals have a need for these services, but not enough need to hire a temp through an agency. Assuming you've got a computer, a printer, and e-mail (and the necessary skills), you're all set. Be prepared to charge by the job, not by the hour.

Spend the $20 on: $14 on a box of clean-edge laser or inkjet business cards and $6 on flyers.

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