Choosing a name for your business can seem daunting. Fortunately, it is easier than you think. Here we explain how.
Your business’ name is the first thing customers will see and interact with. It will be used on your website, in your company logo and on printed promotional material. This makes it crucial to get it right. Here’s how to name your business:
How to choose a business name
Do a brain dump. Set aside at least 15 – 45 minutes to brainstorm possible names. Think about words that describe the services or products you offer. Do the same for your competitors and list how it differs. You will want your name to be a little different and memorable. Also think of words that describe the benefits of using your products or services, and words that evoke emotions you want your customers to feel when they see your company name. You may need to brainstorm several times to come up with possible suggestions.
Keep it short and simple. You will want to make sure your business name is short and easy to spell, say, read and meaningful to customers. Most startups and small businesses tend to rely on word-of-mouth advertising. If your customers cannot remember your name or spell it for others, they may be unable to help promote it. Consider that you are likely to have a presence on social media sites such as Facebook, LinkedIn, Twitter, and Instagram. Twitter especially is restrictive and allows 15 characters in your Twitter handle. This makes it vital to keep your business name short and concise. Also test the names you have selected with trusted friends, family or even customers to get feedback. Before setting your heart on a name, check online that the domain name (.com) is available. The TRUiC free online Business Generator is one such tool and helps you brainstorm and generate name ideas for your business, and instantly checks domain availability online. Be sure to visit their site: https://howtostartanllc.com/business-name-generator
Get the tone right. For example, if your brand is geared towards a trendy, younger audience, finding a name that is cheeky, fun, and hip can help market your business. Likewise, if it is geared to a refined audience, choosing a name that is serious and authoritative can help.
Avoid trends. Trends come and go. Make sure your company’s name can evolve as trends evolve.
Refrain from using geographical names such as using your city, state, or region as part of your company name. This could potentially hinder you later should your company grow beyond the region in which you are based.
Be unique. Steer clear of names that are like someone else’s. Apart from the fact that it is confusing and may cause you loss in revenue, it may also have legal implications. Trademark and copyright are crucial in business. But what do you do if you do not like the name you chose the first time? Easy. You change it.
Changing your business name is easy. In the U.S most states allow you to set up a DBA (Doing Business As) later. A DBA allows you to operate your business under a different name without doing a full legal change.
Consider using an acronym of your company name. An acronym is composed of the first letter of each word in a phrase. One example is TRUiC — The Really Useful Information Company — where it describes the purpose of the company. Make sure the business name rolls easily off the tongue and is not cause for embarrassment. So, you have come up with possible names, how do you make the final decision?
The final decision
Never take choosing a business name lightly. Your name should not be a guessing game with potential customers. Take a step back and recall all your initial criteria. Which name most accurately describes your business, and best fits your objectives? Also make sure you are happy with the name. Take the time to get it right. If you already have a business name that is not the best representation of your services, go back to the drawing board; it is never too late to rebrand your business.