By Phil Otto, an EO Atlantic Canada member and president and CEO of Revolve, a marketing and brand-consulting firm.

A friend from Texas, USA, once told me a joke about two leather-skinned ranchers who find themselves side by side in a bar. They begin to talk and soon learn they both own cattle ranches:

“So what’s the name of your ranch?” The first asks.
“The Circle K,” the second answers. “What about yours?”
“Mine’s the Lazy L Bar T Q Sleepy C Triangle D.”
“Jeez, you must have a ton of cattle!” the second says. “About how many head do you have?”
The first winces. “To tell you the truth, not that many. Most of ‘em don’t survive the branding.”

Great product and company names are short, simple, unique, and easy to say and remember. They don’t need to state the name of the founding father or mother, indicate the business location or simply describe the goods or services. Here are some tips on finding a strong brand name.