One of the most important and potentially challenging steps of starting a business is choosing a business name.
For some, choosing a business name is the first thing tackled because it’s simple, quick, and obvious to them. For others, it’s a struggle to identify a business name that encompasses what the business stands for.
Choosing a business name that resonates with your customers can save you money since you won’t have to spend advertising dollars clarifying a muddled message,
Because it will not only lift your brand above competitors, but help you reach new markets, and also open doors to growth.
How to Choose the Right Name for Your Business
Be strategic
1. Conveys the intended message and the right feelings
Your business name should act as a mini-presentation of what your brand is all about. Think about Apple. It’s simple and creates images of innovation and modernity. Consider the emotions and ideas you want your customers to associate with your business, then work on a name that captures that essence.
2. Able to accommodate foreseeable changes in the brand
Amazon began as an online bookstore, but its strategic name allowed it to seamlessly expand into a retail giant. Any name you decide for your business should be flexible enough to enable your brand to evolve without being disjointed. Flexibility in a name can mean the difference between stagnation and growth.
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3. Stands out when compared with your competitors
When pondering a name, remember Nike, its simplicity has set it apart for decades. So your business name needs to carve a unique space in your industry to make it easier for your target audience to notice and remember you.
Be creative
1. Catches people’s attention and sticks to their minds
Consider Google – a name so catchy, it became a verb. Creativity pays off. So your name should be intriguing enough to get attention and also stick in the minds of potential customers.
2. Fun to say
Think about Coca-Cola. It’s fun to say and that has helped the brand to create a lasting impression to their customers, which you and I. So choose a name that rolls off the tongue and can create positive associations and enhance word-of-mouth marketing for your business.
3. Visually appealing when written out
McDonald’s is not just known for its food; its golden arches have become an iconic visual symbol. So your business name should have an aesthetic appeal to make it visually memorable, aiding in logo design and overall brand recognition of your business.
Be technical
1. Legally available
Before you fall in love with a name, ensure it’s legally available. Starbucks faced legal challenges with its original name, “Pequod,” before adopting its now-iconic identity. Register your chosen name to avoid legal hurdles down the road.
2. Linguistically viable
Think about the name Twitter, now X – concise, easy to say, and fitting for its microblogging platform. Your business name should feel natural in conversation and resonate with your target audience’s language.
3. Easy to spell and pronounce
Consider Toyota. It’s easy to spell and pronounce which has helped in contributing to its global recognition. Avoid complex or convoluted names that could confuse potential customers or hinder your online presence.
Use the lessons from these well-known brands to guide your own business name journey. So choosing the right name requires strategic thinking, creative flair, and technical precision.
Remember, your business name is often the first interaction people have with your brand – make it count.
