You better name it right

Naming a company is important when starting a business.

A company name should sound different. Claris, Claritin, Claria, etc. are similar, although belong to different businesses. A Company name should also sound logical e.g. Fluent Inc. -fluid flow simulation company. Fluent’s competitor is Scryu, a Japanese company. Because the brand is what the company stands for, and Scryu definitely does not sound well in English, I’m afraid it might be not as effective as Fluent outside Japan. Another example is that of Toyota MR2, which is known by a different name in France. Rather than the MR2, it is called “Coupe MR,” because “MR2″ in French sounds like “merdeux,” which means “shitty.”

When naming a company, check what the name sounds like in the most widespread languages.

Business Pal

Although marketing gurus suggest to avoid doing business with friends, as it’s the easiest way to end a friendship, thousands of partnerships are created and run by friends.

25% of all European Small & Medium Enterprises are based in Italy, and despite what gurus say, most of them are friend run. Or better most of them are family run businesses. Take Barilla for example (a food company), who received the 9th annual “IMD – Family Business Award,” joining names like Lego, Henkel and  Zegna. Seems that family run businesses are more successful than friend run ones.

Maybe we should consider the following exception to the gurus advice: don’t start a business with a friend,  unless you’re planning to marry him/her.