What's a name worth? Not much if business plan is weak

[mole]

In the height of the dotcom era, I made a bad business decision. Another company owned a domain name — a website name — I thought I just had to have, so I offered the owner $25,000 to buy the name. Thank goodness, she turned me down.

I still had the money to use to grow my business, while her business — even though she had a great name — languished.

Like many entrepreneurs, this woman was overly attached to a name. She felt that because she already had an existing business and hoped to expand, she couldn't give up the domain name. The extra $25,000 would have enabled her to grow her company, but she was convinced her name was key to her success.

The truth is that no business name — regardless of how memorable or even how well-established — is critical to success.

http://www.usatoday.com/money/smallbusiness/columnist/abrams/2005-11-03-name_x.htm

 

[CrazyTech]

I agree with the article (good read by the way), but I must point out that a good name can go a long way even if not used to the full potential.

 

[Premium]

So true, however a targetted and premium domain name would help in the long run.

But yes its not the domain, its the business itself that will lead you to success! Bad business but good domain, where do you think you'll end up?

 

[ponyone]

I think a name online is very important. It would be hard for your customers to find you if you keep switching names. Plus starting anew with pageranks and ads and what have you.

It's a double edged sword I suppose.

 

[AHA7]

I agree that a great name without a great company, services, ideas... behind it is NOTHING!
I have some names that I consider as great ones, but they are nothing unless they are developed and serving.

Thanks for sharing, mole!
Rep added!