Choosing a name for your business
Some people spend too little time choosing their business name only to find it lands them in some pretty sticky trouble and it’s a too late to change it or a huge hassle that you just don’t need when trying to run a business. Life will be a lot easier if you get it right from the very beginning.
Here are some things for you to consider when choosing your business name.
Easy to remember, easy to spell
Making it simple and easy to remember will without doubt help your customers to find you, remember you and spread the word about your business.
Keeping it easy to spell makes your business accessible to more people; nobody wants to reach for the dictionary every time they want to visit your website or looks for you in the phone directory.
No one else is using it
Check that no one else is using that business name and if you plan to have a website then check no one else is using it as a website address as well, it’s better to avoid any confusion.
Avoid double meanings
Avoid double meanings where possible as this will in the end cost you more in advertising. If you title your decorating business as ‘strippers at the ready’ then you may find yourself attracting the wrong sort of clients. This may cause a bit of a chuckle but in the end will waste your time and money.
It matches your products
Your business name should always match your products as much as possible because it’s going to be your image, your brand and possibly your logo.
Don’t limit your growth
There are several ways in which you can limit your growth potential.
Don’t put your area in the name because if you want to expand to somewhere else or online because you will limit yourself to that area.
Avoid naming the business after one product such as ‘wooden toys’ if you know that you may later on want to expand that business to selling other toys as well.
Matching the name with a domain name
If you plan on having a website at some point then it’s a good idea to see if the name also fits in with a domain name too and that no one else is using it already. This will also help you to rank higher in the search engines.
Try to pick a .com or .co.uk as these are more widely recognized and remembered. When someone is looking for your website and can’t remember the exact address, most people type in .com before they try anything else.
Check the name is available
Once you have come up with the name, check it is available and not already being used by someone else. Avoid trademark infringement by not using the same brand name as someone else.
See what other people think of your business name; ask friends, family and potential customers if you can. It might be that someone else will see it from a different point of view than you.
Once you have come up with the perfect name and checked that no one else is using it, it may be a good idea for you to copyright protect it yourself and register your domain name if you plan on having a website.
Coming up with ideas
Try brainstorming either on your own or with colleagues. Have a look online at similar products to see what other people call their business and try come up with something better. Have a good think about your products from as many different view points as possible.
Most of all, take you time, have fun and enjoy your new adventure!