When starting your own business one of the hardest parts is always trying to choose the right name to fit your company. Names can be the downfall or the crowning glory of an organisation so it’s important to get it right.
You can pay other companies to name your business for you but these corporations are known to charge exorbitant amounts for something you should do yourself. Like you own name, it should be personal.
Read our tips on how to choose a great business name and see if a brilliant idea appears.
Attract The Right Customers
If your product or service has a very specific audience, make sure it is relevant to this group. Keep track of trends in the target market without being ridiculous. Not every business marketing to teenagers has to have ‘YOLO’ in the name. They won’t buy it.
Keep It Short
Long business names are laborious to type in and often people will try and take shortcuts to save the hassle. Keep your business name short and snappy but still, convey your purpose. This will make it easier for your audience to absorb and remember.
Avoid Inside Jokes
That joke you had one holiday with your friend won’t fly. People don’t get it. Make sure your name is relevant to everyone in your target audience to maximise potential.
Even audience relevant jokes aren’t recommended. Puns and such don’t really work in the marketing world so stick to more professional names.
Can You Pronounce It
Ensure that your name is not only short and easy to remember, but easy to pronounce also. Complicated names will confuse the audience and they may end up mistaking you for someone else or getting businesses confused. It’s hard to get word of mouth recommendations when no one can say your name.
Availability
Probably the most important point. You need to check whether someone already has this name. If they do then it is straight back to the drawing board as they will have copyrighted or trademarked the name. Make sure the name is available, and make sure your preferred social media handles and website domains are available too.
Own It
Once you know that the name is available, own it. Buy the rights to the trademark, patent it, trademark your logo and patent any business ideas. Literally, cover your back in every way you possibly can so that no one can steal your (hopefully) brilliant branding.