Deciding on a name is one of the most exciting parts of starting a business.
The only problem with choosing your business name is that there are a lot of wrinkles in your business name. It’s a bit like choosing a name for your baby. A bit like? Make me like it a lot! It doesn’t get any easier to choose a name for your business than it is to choose a name for your baby.
What’s in a business name? You want it to be everything. Unfortunately, many trade names are nothing. Deciding on a great business name takes time. Thought is needed. Plus, getting it wrong could spell disaster for your business. However, doing it right will give clients a reason to hire you, connect you to your niche, and save you thousands of dollars in marketing.
You want your business name to have a big impact on people. This, in turn, will have a great effect on your market. A name that is too distant can hinder the brand. A name that is too generic and common is easily ignored. Naming your business “Sarah’s Cookies” may make all the sense in the world to you. In most cases, however, your own name means very little to your customers because it says nothing memorable or distinctive.
The key to choosing a great name for your business is to make it memorable. Make it distinctive. Don’t make it silly or cute. Your name should reflect your niche and identity and be easy to reach your customer base. So don’t blow it!
The five main characteristics of a great business name
1. It’s short.
2. It is specific and reflects a specialized business: Jiffy Lube, Home Depot.
3. It is unique. Consider using non-dictionary words: Alkamae, Google, Squidoo.
4. He is creative. Do not copy, borrow or modify existing famous brand names. Do you have milk? has its own brand. Leave Victoria’s Secret to Victoria.
5. It’s an easy name to say, spell and remember. Use the proper English construction so that when put into a sentence, it works: “I just bought a book from Amazon.”
Five Popular Business Name Trends to Avoid
1. Do not abbreviate your company name. Although it can facilitate communication and correspondence, acronyms are sterile.
2. Avoid anything that ends in “global”, company” or “Inc”. They are approved.
3. Avoid using your own name. Build your brand on your company, not on your name. That way, if you ever decide to sell your business, it will be easier to sell.
4. Do not hyphenate your company name. It makes remembering and writing it hard. Also, a hyphenated web name is hard to read.
5. Avoid geographic names unless you’re trying to build a strong local affinity. The name “Willow Oak Center for Arts and Learning at Robertson County” works because it is a business specifically targeted at Robertson County in Tennessee.
Once you’ve found your name, consider registering it through the US Patent and Trademark Office and registering it through the offices of the Secretary of State. If your business operates on the Internet, keep in mind that domain names are not registered through state or local government, so simply registering them with domain registration sites is not enough to protect your great business name.
Naming your business is about more than just coming up with something that sounds good, is clever, or you just like it. Naming your business is serious business. The name of your company reflects your image, your brand and your position in the market. Because your business name is crucial to the overall success of your brand and marketing efforts, make your business name count.
make it great!
