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A lot of work goes into the creation of a new business. However, some entrepreneurs may have put so much work into designing the business model that they may have not given much thought to what to name their company.
The name you choose can have a much larger impact than you first expect. The name of your business over time will evolve into a brand that will be recognized either on a local or national level. Having one that is memorable and in line with what your business does is important. With that in mind, below are seven considerations to have when naming your business.
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Avoid Trademark Infringement
First of all, you need to make sure the name you choose is actually legal. It may turn out that the name you want to use is already taken by another business. If that is the case, you could be sued for trademark infringement.
You should also keep in mind that copyrights and trademarks are not the same. Trademarks do not need to be registered to be legally protected. Discovering business trademarks requires research. However, this is necessary to avoid lawsuits.
If you conduct a search query on the Federal Trademark Records this will help you find out if the name you have in mind has already been trademarked. When you do file for a trademark, make sure to renew when it is time for you to do so, so that you don’t lose the rights to your business name.
Choose a Name That Is Easy to Repeat
One important part of a business name is just how easy it is for potential consumers to repeat. The name in question does not need to be composed of real words. Think, for example, of how Google’s name is a household word.
The name was invented by the company. It does not have a meaning apart from its context as a search engine. However, the name is also easy to pronounce. Its spelling is also easy to remember. If you want word of mouth to spread regarding your company, keep this in mind.
Get Help If You Need It
Sometimes it’s simply hard to think of a name you actually like for your business. It can be a bit like writer’s block. Everything you come up with on your own may sound awful. If that is the case, you may want to consider getting some outside help.
Consider utilizing a business name generator to get some ideas. To use such a tool, all you typically have to do is provide some keywords related to your business model. Artificial intelligence will then choose a name for you that you can trademark and use for your own company. This may be a great way to start brainstorming some company name ideas.
Think In Terms of Domain Names and Social Media Accounts
These days, the internet is extremely important to the success of companies in nearly any industry. Make sure that a domain name for your business name is available. You do not want to go through the whole process to find out some other business has your company name for your website.
If it is not available, try to find a domain name that is very relevant to your company. Similarly, the social media handles you use on Facebook, Twitter and Instagram are also very important. Check to make sure what you want to use is actually available.
Your business name should be used on all of your platforms from your blog to your social media pages without additional words added. This will make it easier for your customers to find you as well as build name recognition on the internet.
If there is another small business out there with a similar name to yours, you may want to include your location where people can see it right away. That way they know you are the right restaurant or plumbing service company, they are looking for.
Tie It Into Your Branding
A business name is, for all intents and purposes, a part of branding. Make sure your name fits well into your branding. For example, if you want to sell a food product that elicits feelings of nostalgia, a name that is only relevant to 2022 is probably a poor choice. Overall, you don’t want your business name to contradict your overall branding strategies. The name should fit.
Pick a Name That Is Easy to Remember
The human brain can be a tricky thing. Just because you think you have a distinctive name does mean that actual human brains will agree. The name, for example, could recall too many similarly named things or ideas in the minds of consumers. You should try experimenting with the name by asking people to recall it after it was mentioned a significant time earlier.
Choose a Name That Reflects Your Products
One of the most important ways to look at a name is that it should do a good job representing your products to the public. The name does not have to be directly related to your product. However, there shouldn’t be messages within the name, whether intentional or not, that doesn’t put your product in the best light.
Think, for example, of unfortunately named food products or restaurants. The wrong name choice could give the consumer the wrong idea. In fact, it may produce the opposite result and make the product seem unappetizing or disgusting if it recalls images that are unsavoury in the minds of consumers.
Overall, don’t rush into choosing a name for your company. There are many different factors to consider. While you don’t want to choose something that is overly generic or contrived, give some thought to how your company’s name could affect your business in the future. Use different name generation tools to help you brainstorm. Think about what your overall company message would be and tie it in. Over time the right name will come to you.
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