Naming your Business at Business Start-up

Choosing a business name is one of the most important things that you’ll have to do at business start-up. Unfortunately it’s also one of the first decisions you have to make and a wrong name can hurt the business down the line. You should read the guide below before committing to a business name.

What’s in a business name?

In a rational world a business with a strong product or service can expect to make a healthy profit. However, it takes more than a strong product or service to get the message across to the customers that your product or service is better than that of your competitors.

The business name is one of the first things that a potential buyer will notice. This fact makes the right business name more important than your sales pitch or even your end product.

The business name is the entry point to your business, so it’s essential that you strike the right tone with your business. Your might have the best idea in the world, but if people are looking elsewhere because of the competitors “looks” then no one will even know that your product or service is the best.

Brand

However, successful companies don’t just have good names, they develop a brand. When starting a company your brand is of vital importance, because brands can literally sell themselves. Branding is not just a memorable logo, but also an effective, memorable name that can really help people remember the business (or a specific product from the business.)

Choosing a memorable name is easier said than done. After all you want to stand out from your competition but you also need to be taken seriously. A good idea is to say the name several times a day to make sure that you like how it sounds before committing.

Ideally, names should be original, snappy and instantly informative as to what your business does and sells. Customers should be drawn to a name that stands out from the crowd, but also find it trustworthy and professional.

Tips for Naming a Business

Below you’ll find some tips that you should keep in mind when you choose your company name at business start-up.

  • Make sure the business name is legally obtainable.
  • The name should symbolize what you do as well as what you will be doing for years to come.
  • Don’t limit yourself for long-term goals and targets. Most businesses usually start life doing one thing but ultimately end up doing something entirely different.
  • Make sure that the premium domain name is free.
  • Select your business name with passion.
  • · Emphasize those qualities, which you wish to promote. (For instance the words cheap and discount if you sell products in a low-price market.)
  • The business name should be easy to pronounce and simple to say.
  • The spelling should be simple.
  • Try to set your business apart. Ensure that your name does not sound too similar to competitors.
  • Humor in a company name can also be an easy way for people to remember your business.

Brainstorm Session for a Company Name

Now that you have a few suggestions for creating your business name you should start brainstorming session. Get some people together, like staff or family, and come-up with at least 10 business names.

After that, create ten more business names by playing around with various words from the first ten names. (The list should now have 20 potential business names.)

Rate all 20 names to find out which you like best and make sure to repeat the words to yourself to hear how they sound aloud. Watch your friends’ and family to see how they respond to the names.

Good naming and good luck with you business start-up!

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