Have you ever stopped to ask yourself how important a company name actually is? In the business world, the name of a company is everything. It will appear everywhere: billboards, business cards, products, website, and social media. The name of your business has a remarkable impact on how customers, partners and investors view you.
Therefore, the name you choose for your business when you decide to launch it is pretty much like opening the shop window to customers worldwide. Actually, the name will determine to what extent you can be found online.
For an entrepreneur, choosing the right name for his/her company take up most of their type. Depending on the type of business, the name should offer a glimpse into the heart of the company. And if you think it’s going to be a straightforward process, you have another thing coming. Naming your company is a much more complicated process than you might imagine.
Ask anyone who’s ever launched a business and they’ll tell you the same thing: the name you originally want to give your business and the one you end up with couldn’t be more different.
So how should you go about it? Moreover, what should you be thinking about when you start choosing the name of your business?
Here are 4 great tips every entrepreneur should read before actually choosing the name.
- First of all, take your time and think long and hard about what type of name you want for your company. When everything is said and done, there are only a number of categories of company names. There are several approaches you should consider. They are as follows: “surname and surname”, “place name”, “made up names” or “everyday objects”.
The type of name your company will have will show everyone the type of business you are in. For example, the traditional companies or the ones that wish to convey that impression prefer to use surnames or place names. On the other hand, up-and-coming companies prefer to opt for bolder names.
Therefore, consider the names of your main competitors and also the way in which customers would feel about using your potential name to decide what type of company you want to become. From there on, you can start creating a shortlist of names.
Keep in mind some simple rules: the name should be simple, unique and easy to remember, it should be easily spelled by customers and have a positive connotation.
If you are lacking inspiration and need some help you can try some online tools for business naming such as Brandroot.
- Your next pit stop should be the Trademarks office. You need to check whether the names on your short list can be used or are already in use.
By doing this step you will cross some potential business names off of the shortlist. Moreover, the Trademarks Office has a list of restricted name types which could be useful.
- See if the domain name is available. Once you have crossed off most of the names from the list, you need to see if you can buy a website which resembles more or less the company name.
This step can be pretty tricky. For example, you could use GoDaddy and check if the potential business names are available or if they are for sale. Also, take into account registering different variants of the name for defensive reasons. Just type in “domain name availability” into Google or any other search engine you are using and you’ll find a lot of other websites where you can do this.
- Last but not least, you should definitely surf the web and check online for your shortlist of company names. You need to ensure that when you type search terms for your company like “Breathtaking landscapes” “Greeting Cards” and see whether the names of your competitors appear. Moreover, no links or dodgy brands should show up.
Once you have done all this, you’re pretty much ready to choose the final name of your company.
After choosing the final business name, present it to your friends and family and to some of your potential customers and ask for their honest feedback. Ask them questions to see if it gives off the impressions you desire.
