With all the requirements of a business, the importance of a business name is sometimes missed out. However, as discussed in a previous post (The Power of a Business Name), the name of your business can either invite your potential market or it could leave them disinterested. It has the power to create first impressions to your target niche. Thus, it is very important to be able to choose the right one for your business. A business name which is effective and is appropriate for the business you are in is highly necessary to be able to create an impact on your potential market, especially during the first stages of your business.
Choosing a business name which is right for your company or organization can be tough. You have to consider various aspects in your business, in the kind of products you sell, or in the kind of services you are offering. The business name you would choose will either tell a story or end it abruptly without further invitation. Squadhelp offers you these 5 Tips in Choosing a Business Name which is fit for your company:
1) Consider the basics.
- mission and vision of your business
- the brand you want to build and brand equity you want to achieve
- your target market
- the business personality you want to be identified with
The business name should be aligned with your mission and vision. If you are running a company which is promoting organic products, then you do not want your name to be associated with any term contrary to the products you are promoting. Also, you would want to consider the brand you are trying to portray to your potential customers and the personality you want your business to be identified with. If you are starting a Restaurant Business which you want to have a vintage brand, then you would want to give it a classic name.
2) Put everything in black and white.
Once you already have ideas for your business name, make sure to write it on pen and paper. Write everything. Write absolutely everything, even those which you think are not best for your type of business. Brainstorm all your ideas on paper. This is to make sure that you have listed all the possible names you would want to choose. Putting them on paper will allow you to evaluate and re-evaluate its appropriateness for your company and whether it would look good written and whether it would sound good repeated verbally.
While writing all your ideas, keep in mind the basics and rules in choosing a business name: short, simple, memorable, and relevant.
3) Allow creativity.
It is important to keep in mind the basics or choosing a business name. It is even more important to always remember the rules in coming up with one. However, do not let the basics and the rules prevent yourself from being creative. Play with words. Find words which can describe the feelings and emotions you want your target customers to feel or make up words which will make your business unique and hard to forget.
Choosing a name for your business which is unique can be effective. Its uniqueness makes people remember it easily and distinguish the name from others in the business industry. Just avoid words which are difficult to pronounce or those which cannot be relayed from one person to another without writing it on a sheet of paper.
4) Check its availability.
Before finalizing, make sure that the name you choose is still available and there is no possibility of facing legal issues once you use it as your business name. You might want to check the appropriate agencies and secure the appropriate business permits in order to make sure that the name you are choosing is free and unique to your kind of business.
Also, check the availability of the name as a domain. In today’s modern technology, social media is used to market one’s business and operations. Having your own website will absolutely be more effective than a mere Facebook business page or profile. Hence, make sure the domain is available and that you can use it without incurring so much costs, unless you are prepared to pay the costs, no matter how high they can be.
5) Do not limit yourself.
Choosing a name which directly describes your business is an ideal strategy. For example, if you are in the clothing and fashion industry, you can name it, “La Fashionista Lind’s” in order for you to be easily discovered when people search through the World Wide Web. The usual thing people do is use keywords which are related to the kind of business they are searching for. Choosing a name which directly describes your business can help boost SEO (Search Engine Optimization). However, do not limit yourself with being too specific. For example, if you have a business in creating and selling baskets, you would name your business “Lil’s Creative Baskets”. What if you want to expand your business, aside from basket making? Instead, choose something like “Lil’s Creative Crafts”.
Whatever name you choose, make sure that it is easy to pronounce, not too long and easily memorable. It can be unique and playful. The name of your business is your initiative. Just remember that it does not stop in the name, you also have to back your name up with the quality of your products and the efficiency of your service. What is a beautiful name which attracts people but the actual product or service pushes away customers? There is power in a business name – in attracting potential customers and clients. But keeping customers and clients depends on the way you serve and treat them.