Choosing the right business name can boost your company’s survival in a competitive environment. Naming your business is far more than just thinking of a name you like as it reflects your company’s overall identity in the market.
A Good Company name markets itself. Following all the procedures is important while concluding a name to avoid getting into legal trouble.
So, we present a plethora of helpful suggestions on how to come up with a perfect business name that’s powerful, memorable, and appealable for connecting with the customers.
Your business name will be engraved with your business goal in the long run, so it's necessary to carefully consider all your choices before you invest in starting a business entity, setting up a website, and creating logo designs and other marketing endeavors.
In this post, we are providing some tips to get you started to choose the right business name.
1. Make it memorable
While choosing a name stick to a catchy outlook, easily pronounceable, and memorable words and don't get bombastic with your spelling or use difficult acronyms.
A company name that is too long, hard to pronounce, or difficult to spell tends to make customers get tired of it. And while that can be annoying for any individual to remember, it can be deadly for a business to make its mark.
A great company name will be memorable enough to pop in your head and you remember them without having to look them up on the internet for the next time you want to purchase the product.
There is a fine distinction between being memorable and being so unique often it turns people off. Create a name that stays in the minds of your customers!
2. Resonate Your Work
Your company name wants to be specific and clear as to what you’re selling. Your brand name should resonate with your work with your target audience.
- Ask these questions to yourself to select the best company name.
- What is it about your company name that will be unforgettable?
- How is your nature of work reflected in your company name?
- How does that make you different from your competitors?
3. Legal Liabilities
Before planning to choose a name for your company you must know about the legal liabilities and the government laws concerning them. You are forbidden to use the same name which is already registered under your state.
In some special scenarios, you are not obliged to use a name that is deceptively similar to another business entity's name.
If you do set up a company as a corporation or LLC, you may be required to place a business name identifier such as “corp.,” “inc.” or “LLC” after your name as per the government rules.
Your government might have a list of names that you're not allowed to use because of some special reasons. For example, you're only allowed to use the word “bank” if you're a financial institution.
4. Avoid Similar Name as Your Competitors
While you're desperately looking for a unique name, keep a keen eye for competitors in your geographical area that are using names with similar sounds to avoid confusion in the future.
At worst, there are possibilities for the other business to accuse you of trademark infringement, and you could find yourself fighting a lawsuit. After determining a name you like, follow up with a web search on the name.
But even if this obstacle doesn't happen, you definitely want your business to have its own brand and identity without getting mixed with a competitor is seldom a good thing to prosper.
More often than not, you will be in a spot to find that someone else is already using that business name you choose. While that won't be a total showstopper for you, it should give you pause to think about the alternatives.
5. Utilize broader perspective
Picking a name with a narrow perspective can cause you problems down the road. Sometimes, a business chooses a name that matches the geographical area it's located. It perfectly expresses the sentiment you have for your native place.
Have you thought that what happens when the business decides to expand to a global level? The name that once seemed so apt for your business doesn't fit anymore and may even drive away customers.
The same criteria apply to the name that describes your specific services. If you get too particular, you may find yourself where you outgrew the name as soon as you start to expand your offerings. Make sure your name allows your business to thrive and change.
Before you say yes and commit to a name do some research to be sure that the name reflects your business's desired image and long-term goals.
6. Feedback from Others
Choosing a name is one of the most exciting and creative parts of starting a new business. You can come up with a few names and then run them by friends, family members, and trusted colleagues.
If you can get feedback from your target audience then that is great as well as valuable. And make sure that the name doesn't have any negative connotations attached to it that you are unfamiliar with.
7. Brandable Nature
This is the vital procedure in the business naming process as it ensures that the name you decide will work for you and not against you.
Be sure to try some of the business name generators available online to get brandable business name ideas and check their availability!
When you make a final stop in the business name, keep the following tips in mind:
- Is it easy to pronounce?
- Is it unique and easily stands out from competitors?
- Is it easy to spell and pronounce?
- Is it short and to the point?
8. Apt for Strong Digital Presence
Often the final step in validating your business name ideas, establishing your digital presence is a must in the business creation process.
When shortlisting your business name ideas, try to think ahead of the future and visualize how your business name will look on marketing collateral and in advertising channels like Radio, Instagram, or Podcast mentions will help to validate which name ideas fit your business best.
You'll want to make sure that your domain name has username availability in social media platforms is available to register.
A business name generator will help you streamline this process and immediately checks if your name ideas are available to register across all those mentioned platforms. So try to use them for a better experience.
If you're one of those people who like to be different than the usual stuff you may be tempted to include a sound-alike or misspelling of a common word in your business name for uniqueness.
Avoid the temptation and follow the reasonable tips mentioned above for establishing a business name from scratch.
And, if you have done a good job in choosing a name and optimizing your site for search, then your customer may easily find you. Do what makes you successful and select a name for your business today.