Starting a business takes preparation. A lot of planning goes into launching a business from the ground up. The one thing you don’t want to get wrong is your business name. It will represent your brand, image and what you value as a business.
Most aspiring entrepreneurs want a name that’s easy to spell or something customers can remember. Others name their businesses with a global audience in mind.
Whatever you choose, it pays to be creative. The best global business names are memorable, have a story and a clear message that stays with customers.
What’s in a name?
A business name is one of the most important elements of a company’s brand. It plays a key role in other design decisions (logo, colours, website, product design, packaging etc.).
When deciding to choose the perfect name for your new business, think about a name that can describe what you do. If the name is not directly related to what you do, make it easy for consumers to associate it with your product or service.
“When starting a company, your brand is of vital importance. Branding is not just a memorable logo but also an effective, memorable name that can really help people remember you. This can be portrayed strongly visually as well. In the initial stages, we find it’s good to envisage your name and branding, making sure it’s recognisable, simple and reflects your business,” says company branding specialist Jim Fowle of Red Mullet Design.
Choosing a company name
A bad name can undermine everything you do. Don’t take the process lightly. It’s tempting to make a simple list, choose what sounds good to you and get on with the other elements of launching a business. It’s always a great idea to do some research first, find out what’s already out there and already registered domains.
The simplest way to find the perfect business name is to use a business name generator. You can type a word or two you want in your business name to find unique business name ideas just for you. You don’t need to come up with the name on your own.
A business name generator can come up with a catchy and memorable brand name with an available domain. All you need to get started is to come up with a relevant keyword that relates to your business and the tool will generate the best options for you.
Key things to remember
Once you narrow down your list of options, you can also check availability on relevant social platforms: Twitter, LinkedIn, Facebook and Instagram. Make sure you can use it. Be creative about your name if the exact name you want isn’t readily available.
Make it short. Your business name shouldn’t sound like a sentence. Don’t make it hard for people to remember. And it should also be easy to spell. If you are going to spend too much marketing time and money reminding people about your business name, think twice about it.
Whilst you can do a look of the brainstorming yourself, a fresh perspective can make a huge difference for you. So, if you can, seek candid opinions of entrepreneurs you trust. If you’ve made your shortlist, get their feedback on your options. You can also take the feedback process further by asking your prospective customers what they think about the name.
Another thing to consider is the SEO (search engine optimisation) implication of your business name especially if you are starting an online business. Your brand name should be unique enough to become a top search result for that term when you start your SEO marketing campaign.
A wrong name can lead people to other sites if SEO is a major component of your growth strategy. The key thing here is discoverability. You want people to find you easily online, so choose a name with that in mind. Don’t choose a word or name that’s already out there or if you still want it, be creative about it.
You are not just choosing a name for a few years. If you plan on growing your business, pick a name that can grow with your business. Think about how your new business will evolve and how the name can play a key process in the growth process. Do you plan to expand internationally? The business name you pick should be appropriate for your future markets.
A critical step in finalising your business name is finding out whether you can legally use a name for your company. Use government business tools to find out if the name has already been registered. It’s a very important step that can help you steer clear of legal headaches going forward.
The reality is that the wrong name can be the beginning of your failure or a hard-selling process going forward. Think long-term and choose a business name that can stand the test of time. Now make a decision and move forward. Be original, your business success depends on it.