A business name works as a face. You have to keep your face attractive, appealing, and attention-grabbing. Deciding on a name is not a task that you can complete in mere minutes. A business name selection should include lots of research, brainstorming, analysis, and expert guidance.
For best results, perform all of the following steps in an organized manner.
Step 1: Brainstorming and Inspirations
Before starting to think about the name, ask yourself these questions:
- What are your business goals?
- How do you want to represent the business and showcase your brand?
- What kind of reputation or image do you want to build in the marketplace?
Your answers will provide direction for brainstorming.
To come up with the best name, try out words from foreign languages, your favorite words, and words found in English literature and history books. Also try to create a combination of words.
If you are running out of words, get inspiration from different sources (names of places, cities, street names, existing shops, etc.).
Step 2: Test the Name
After a brainstorming session, some terms may appear as the business name, but running a proper name test will be useful in choosing the correct word. For a test, consider the following checklist:
- Easy to pronounce
- Easy to spell
- Easy to remember
- Easy to share
- Easy to type and search via mobile devices
Along with these, check out the meaning of terms in different languages. Sometimes, your selected name has a diverse and weird meaning in another language, which would make it not suitable for establishing business globally.
The name should be perfect and sounds good in all languages, especially in the areas you want to serve. It should have a positive meaning while representing your business, brand, and services.
Step 3: URL and Social Media Availability Check
In today’s competitive world, you have to focus on the online marketplace and social media awareness. Having an impressive business name is not enough for success and consistent growth. After selecting the name, you should search for a domain name. Owning a domain name similar to the business name is useful in increasing online visibility. It also builds a good brand image in the online market.
While selecting a domain name, you should prefer the .com domain. If someone already has that URL, then you should try to buy it. Here you should contact the domain owner and convince him/her to sell. In case you don’t get the .com URL, then you should focus on others.
When you decide all elements-related to the domain, then focus on social media platforms. We all know the power of social media and its influence on users. With a well-maintained and updated social media account, you can influence the audience and generate business leads. You should choose the usernames on different platforms similar to the business or domain name. You have to set up the social profiles that can represent your business effectively.
Step 4: Trademark Search
In the business world, the most crucial factor of any business name is copyright. If you don’t want to keep business limited to a specific area, you must have a registered trademark. A trademark showcases your authority.
Before proceeding to the trademark registration, you should check out the trademark database properly. With it, you can run an inspection in your state regarding the business name. If someone already has a similar name or trademark (officially or unofficially), it can be a big issue. You could actually be sued for trademark infringement, as sometimes there could be a federal trademark license already in place. But before that happens there’s a trademark opposition period that needs to pass in order for your trademark to be recognized. It lasts 30 days, and in that period any interested individual can oppose your trademark.
Mistakes to Avoid in Naming a Business
It is good to get suggestions from others in order to come up with the best name, but including everyone from family and friends in the naming process can prove to be a big mistake. Including many people may lead to different types of suggestions and clash of interests. It makes things messier instead of solving the problem.
For sorting out things and making the right decision quickly, you should involve key persons only. Try to add people who have an interest in your business and understand its functions and operations.
Refusing to Change
After deciding on a business name, you should remain flexible in case you later discover that your business name needs to change. The biggest mistake you can make is to refuse to change your business name if needed because you’re so tied to it.
Leave the old name behind and put effort into brainstorming for a new name. You may need to work on the complete process again, but you should not hesitate to do so. Investing time here can provide benefits in the future.
All these facts will help you in understanding lots of aspects regarding the selection of a business name. You need to be aware of the mistakes mentioned above and avoid them as much as possible. It is good to get some guidance from experts to ward off silly mistakes and errors. You can contact any experienced businessman in your contact list to help you out and provide direction.