Naming your business is similar to laying out the foundation of a building; once the structure is positioned correctly, the whole organization and foundation is aligned perfectly to that original store. However, if the structure is off, even in the slightest, the whole building would come out off and its misalignment becomes augmented. So if you have come to realize that selecting a name for your business is vital and crucial, it is, and it is considered as one of the most important things to consider when you have a business.
Your company name, as time passes, will get used more often and will last longer compared to any other investment that you have made in your business; this is the reason why it is highly crucial to get the business’ name right from the beginning. Here are a couple of the biggest and most common mistakes entrepreneurs make when naming their business, and that you should avoid making as well.
Matching the Domain Name with your Business Name
Most entrepreneurs believe that their business name should match the domain name; let’s take Tesla for example. They do not own the domain name Tesla.com, do you assume that anyone who wishes to purchase a Tesla would give up so easily if they search and do not find the site? No. They would automatically search for ‘Tesla cars” on their search engines and get results in a snap; the thing here is, people searching do not even notice what the domain name is (which is actually TeslaMotors.com), so if Tesla does not require a matching domain name with their business, neither do you.
Choosing a Very Lengthy Name
Sometimes, it is already difficult to remember a name because of how unique it is, yet a name that has become too lengthy has a lesser chance of being remembered by people. Notice that a lot of the most memorable brand names that we know of have one or two words; think Best Buy, Amazon, Wal-Mart, and of course, Apple. An example would be with PricewaterhouseCoopers, instead of using the whole name, they simply go by PwC.
Names Are Spelled Too Creatively
Creative names are good but it can also be one of the biggest mistakes most entrepreneurs make when naming their company or business. Names such as Flickr, Tumblr, Takkle, to name a few, will always have to be spelled out since it is not written how people hear it.
Furthermore, voice recognition software such as Sirido not recognize names that are unusually spelled; plus, if your employees constantly need to loudly spell out your business’ name to people, you are definitely wasting everyone’s time as well as apologizing for doing so. It is tempting but resistthe urge of getting any one of those domains simply because they cost just around $9.00 or so.
Get Out of Viewpoints
Do not select just one name for your business; choose a couple of appropriate ones that display and present the images you want people to see that represent your business. Collect some feedback from friends, family, and even some of your customers and potentials.
Names strong on imagery work at times, or try out those that are strong in description; furthermore, some names that fall somewhere in between, work too, so play with these names and bring out your creative mind. Make sure that you pay attention to trying out the name ideas with your target market.