My name is Brandon Galey and welcome to episode 43 of the blog Millionaire. In this episode,

I'm going to be talking about how to name your business the right way. For most entrepreneurs,

whether you're just getting started or you're a seasoned entrepreneur, you're probably going to go

through a few different companies in your lifetime. This is just part of being an entrepreneur. You're going going to go through a few different companies in your lifetime.

This is just part of being an entrepreneur.

You're going to create a company, possibly sell it, or it's going to become mature and you're going to want to start something new and add on to the revenue that you're already having.

So it's really important that you know exactly how to name your company the right way.

There are three common approaches when it comes to naming a business.

The first is called the blank slate.

This is when you're choosing a broad and abstract company name that doesn't indicate what

your business actually does.

A good example of this would be Apple.

The second is the direct approach. This is when you choose a name that describes exactly what

your business is going to do. A great example of this would be Burger King. The third approach is basically coining a new name. This is when

you make up a brand new word for your company name that doesn't currently exist in the language.

A good example of this is Skype and another example of this would be Google. Now that you know the three approaches, let's talk a little bit about the study of

cognitive fluency.

Cognitive fluency is the psychological study of how easy it is to remember something or think

about something.

As crazy as it sounds, there have been direct correlations to how easy it is to pronounce

a company name and how successful those companies are.

The most famous study is based upon different IPOs of companies over the years.

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