Tips For Naming Your Business
When starting a new business, founders very often leave the business name for later or they dedicate just a small amount of time to think that part through. What seems as a fairly easy thing to do is actually a very tricky part that could cause your business to suffer in the future should your name not be as recognizable as possible. Hence, if you are about to start your own business and you are wondering where to get ideas for business name, here are some tips you should consider:
• Pick a name that has some meaning. Although you may be tempted to make up some word that has no real world meaning just because it’s easier to find an available website address, that idea should definitely be avoided. If you are just starting your business and do not have millions in your marketing budget to brand around some nice sounding abbreviation of a name or a made up word as a name, then do not even try that. Make it easier for your customers to find you when searching online and make it easier for them to recommend your business to friends by having a name that’s easy to remember and makes some sense.
• Be specific, but don’t be TOO specific. It is generally a good idea to avoid too generic names that can easily get lost in the sea of generic names on the banners page or on the search engines. Therefore, having a name that clearly gives a hint about the industry and possible products you might have is a good way to handle that. On the other hand, being too specific may prevent you from growing in the future. While you may have an excellent plan and strategy for your start-up and you believe you already know all the details, be aware that no one knows what future might bring. What will happens if in a year or two you decide to expand your business to some other areas or industries? Will your business name limit you in any way?
• Check if your chosen name is already taken. Use the Internet to check if there are already companies with the same or similar name in your or other states. That kind of obstacle could be a major one should your business start flourishing in the future and you decide to go nation-wide instead of focusing on your state or city. Spend some time checking your shortlisted name ideas and use government websites to check those brand-protected names. Don’t forget social media channels as they can also help you check if any similar names have already been taken.
• It will never be perfect. Make peace with the fact that not everyone will always like your modern business names. There will always be people that will dislike it. Hence, in case you hired a team of professionals or you are just bouncing a couple of ideas with your friends, try to do that with a smaller group of people. With too many people you just risk having a bunch of different opinions clash and that won’t be as helpful as you hoped.
• Stick with your choice! So, you have chosen a name for your business and started using it for a while, but not all reactions of people coming in interaction with you and your company are positive? Well, don’t change your business name too lightly! Think that through. Unless it’s completely necessary and inevitable, don’t change it at all. But, if you really have to, then make sure that this time you select a proper business name.