Now that you have decided on getting started with your business idea, it is time to give it a worthy name. Getting your business a killer name is harder than it might seem at the onset. One of the considerations to think about when choosing a name could be how it will look in the subject line of an email or even how it will sound when it’s said aloud.
You will have to understand and start believing in the fact that the name of your business has a tremendous impact on how your customers and potential investors view you, and in today’s small digitally revolutionized world, it is a world-wide decision.
And off course if you are looking for some investor funding, you wouldn’t want to send a business plans with “TBD” or “NewCo” in the title position. Whether it is right or wrong, the name you choose, or for that matter don’t choose, speaks volumes about your business and the understanding which you have of the world you are about to enter. After all it is the foundation of your business and must reinforce the elements of your business.
Here are some key things I will recommend considering while looking for in the name,
1) First off, conduct a business name search.
Before deciding on any name you must check out the market and competition names. All this is easily available on internet these days. If you decide to go ahead and use a name without research and it turns out similar names are out there like it, you might end up battling a trademark infringement case. For example if your name is Deepak and you are starting a clothing firm, the finding a business name as “Deepak Clothing” might turn out to be a herculean task, therefore you must conduct a business name check first and then reserve the name online if it’s available before you start the incorporation process
2) Name needs to be meaningful and memorable.
Try and find a name which explains what your business offers and tie that in as specifically as possible whenever you can. Although it can get complex sometimes, however it you get it right, it can be a killer.
3) Short is Sweet
Keep the name of your business short and easy to spell. Shorter names definitely make it easier to claim a website address or URL that way too. Carrying on with the same example as above, getting a domain name of www.deepakClothing .com V/s www.dclothing.com would be far more difficult on world wide web.
4) Factor in search engine optimization.
In today’s digital world getting your company easy to find in search engines is an important consideration when picking a name. For Example, if you’re going to use a proper noun for your name, you should think about how that decision will impact Search Engine Optimization for your website. Choosing a common term like “Bell,” for example, would only make your website visible on the search pages of “Bell” which might not be what you are looking for.
5) Make the name visually distinctive.
After you are done picking up your name, next thing you should consider is to add a custom feature that makes your brand more than just the word or words in the title. Some examples include avant-garde capitalization, combining two words into one, or giving it a unique design touch, like word “you” converted to “u” in the name & logo of Leaderinu. It is about developing a fully fleshed out visual identity.
What to Avoid:
- Asking too many people – It is only going to confuse you. It is your business, so the decision should be yours
- Using too plain words – Think of something unique, something unheard of. Its catches attention
- Adding Your City to your Business Name – Why do you want to limit yourself to a particular city. You never know how far you reach tomorrow.
We at Leaderinu run executive coaching programs & open workshops to help entrepreneurs find their niche. For more information please logon to our website www.leaderinu.in or email us at firstname.lastname@example.org