What to Consider When Choosing a Business Name

If you know anything about business, you surely understand that there is no business without a business name. Coming up with the perfect one that captures and communicates your ethos is not as easy as it sounds. There is no shortage of businesses failing in the past primarily because they had a name that never worked, so it is imperative to get everything right from the beginning.

Finding the right name is essential if you intend to become successful in the near future. It aids in differentiating you from others in your niche. Your customers will always associate your venture’s name with the value you are providing. For instance, an avid player would only opt for a FairGo casino login because they associate that online casino with a great online gambling experience.

Here are some tips to get you started.

1. Ensure the business domain name is available

An integral part of choosing your business name is ensuring the domain name you want for your business is available. If your company lacks one, it will not have an online presence. Any establishment without an internet presence is severely handicapped in today’s technological age.

There are numerous types of available domain names, but you’re better off getting a domain ending with “.com.” Unfortunately, most domain names have been purchased, so Domain name auctions can be an excellent alternative for finding premium, price-friendly domains.

The best way to ensure you’re not picking a business name with no available domain is to create an entirely new business name.

2. Be patient

When you brainstorm different business names and come up with a list of options, the next step is reviewing and assessing these results. Carefully go through the list and eliminate all non-contenders, group similar names together and take note of business names that resonate most with you. Some factors to consider when distinguishing good from bad ones are:

  • Whether the name shows what your business is about.
  • If the name is simple and easy to remember.
  • Whether the business name is easy to pronounce etc.

Ultimately your name has to reflect your business. If you intend to open a serious business, you are better off staying away from whimsical, eclectic names. While reviewing your list, work on your biases and preconceptions before coming up with a list of the best ones. Once satisfied with your list, take time away from the exercise.

Do something different to keep yourself busy and avoid rashly picking a name. It is a major decision as it represents what your business is about and shapes its trajectory, so you need to dedicate enough time to the process. Sleep on your ideas for one to three days, then review them later. Usually, after taking a break, you’ll come back with a clear mind to quickly make a decision.

Also, if you don’t like any of your choices so far, you can always start over.

3. Get a name that reflects your values

Before choosing a name for your business, decide what you want it to be known for. Is it your location, diverse product range, excellent customer support, or convenient location? When you finally settle on a business name, make sure that it reflects all of these qualities. Often the same business can have different names, which will portray it in different lights.

4. Choose a simple, unique name

Branding can make or break your business. As any marketer will tell you, it is a way to create a one-of-a-kind identity and reality for your business. Opting for a name with plain initials and letters is boring and detrimental to your marketing strategy, so choose a vibrant, unique one. It should appeal to your clients and explain what your business offers.

If you constantly have to remind other people about your business, the name isn’t serving its purpose. Allow it to convey the exciting uniqueness of your business while at the same time maintaining an identity of its own.

5. Trademark your business name

Officiating your business name is among the last steps but before you become too attached to a specific one, ensure that you check whether the name is available for registration. If you live in the U.S., you must submit the trademark registration applications to the U.S. Patent and Trademark Office. You’ll find some information on your trademark’s availability by searching on Google.

Consider hiring an attorney who will undertake a thorough search on the name’s availability. Remember that fanciful and arbitrary terms are more likely to be trademarked while generic words aren’t. It is essential to shield yourself against potential liabilities related to your new venture by using the right avenues to form an entity with your location’s Secretary of State.

Conclusion

The business name is one of the most important aspects of a business, and before you coin one for your venture, you should do enough research. These five tips offer a solid starting point for entrepreneurs looking for names for their new businesses. Remember that a memorable name will leave an impression, but the quality of service or product will help you build a loyal customer base.

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