Your business name is one of the first factors that will separate your business presence from your competitors when starting your own business, whether an online business or a physical location.
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23 Factors You Should Consider When Choosing a Business Name
You can say that your company name showcases your business to potential customers, either positively or negatively from their viewpoint.
The foundation that your business endeavor will rest upon and the actual first brick that you will lay for this endeavor is naming your business.
So you are probably asking how do you choose a name that is purposeful, catchy, and appropriate for your possible business traffic whether walking into the storefront, type-in traffic, organic search or paid advertisement?
Maybe you are ready to sell your services, products or whatever you have to sell, and if that is the case, then you will need a good business name. Taking this into account, you will have to do a lot of research when deciding upon a name for your business.
We will discuss a few aspects for coming up with a name for your business in this post, whether it is an online presence, physical location or both.
How to Come up with a Company Name
1. Create a list of questions to use in the course of the steps of the naming process of your business.
2. Do you have a message that you want to associate with your business or website name?
3. Do you know your number one priority for the name of your business or website?
4. What feeling do you want your target audience to feel when they see your website or business name?
5. Will your name reflect your company culture?
6. Do you want your name to be distinct and straightforwardly associated with your services or products?
7. Think about your business framework. Will your business or website name use an accompanying abbreviation such as LLC or Inc?
8. Do you have a list of the names of your competition?
9. Can you give an honest opinion of what you like or don’t like about your competitors names?
10. Are you concerned with the length of your business or website name? If that is the case, do you want a long or shorter name?
11. Try using a business name generator like Fresh Books Classic . You will find that this is a great name generator that will assist with your brainstorming process.
Naming Your Small Business
Imagine you were vacationing in a city and as you were driving down the road, you noticed a building with the name “Jane Blain Company” splattered on the building. Would you be able to tell what line of business the company represents?
Maybe, maybe not?
What if you were searching the internet and came across a domain name “JaneBlaineCompany.Vegas” in Google’s SERPS. Would you click on the link or better yet know what line of business the company represents?
What if the owner of the building and the website were to include some aspect of their business activity on the building or the website, such as “Jane Blain Shoe Company” would that word “shoe” help you understand their line of business?
Hopefully, you would understand the company is in the shoe business with the addition of that one word “shoe." Although “Jane Blain Shoe Company” is not a great name, at least that would help potential customers understand that they are a shoe company.
The reason for my example above is to let you know that you should add words that represent your line of business when you are in the process of naming your business endeavor.
Furthermore, if you have a physical location, then the domain name of your site should be the same name as your company. Also, it is great if your domain name contains words that will let all the search engines know the theme of your site.
For this reason, “JaneBlainShoeCompany.vegas” would be a suitable domain name rather than “JaneBlainCompany.vegas” since the word “shoe” is in the name of the domain. Your goal is for the search engines (GOOGLE) to understand that your site is about shoes.
Although this may be true, there isn't a specific set of rules to attract customers to your business. Heck, look at Google, Microsoft, and Apple! The name Google reminds me of goggles. The name Microsoft reminds me of micro soft fabric and Apple reminds me of red APPLES!
I’m only stating the obvious as a guide to help you brainstorm names and to meet specific criteria with the respective entities to ensure that your name is legally yours for the duration of your business endeavor.
The success of your business depends on your marketing strategy and for this reason, in addition to many other reasons, is the reason why you should take into consideration the naming of your business.
Honestly, it boils down to whatever floats your boat when naming your business. You probably can come up with a catchy name that suits you or your traffic. In any event, the catchy business name might be easier to remember than a keyword domain name.
All things considered, please make sure that you verify whether the business name is available through your states business registry. I’m sure that you’ve done that but double and triple check.
Other Factors to Consider When Naming a Business
12. If your product or service is not unique, please don’t name your business or domain name after yourself.
Now there are times when adding your name in the name of your business makes sense. For instance, if you are a travel agency, then it makes sense to have your name in your company name. For example, Bob’s Vacation Travel Agency makes sense. Get the point!
13. If your name is hard to speak when joined with your keywords, please rethink your naming strategy.
14. The name of your business in all aspects needs to identify the essence of your venture. The name should help put up a barrier between you and your competition.
For example, if your name is Cherry Flavor Cosmetics, you’re not only selling products to enhance looks, you’re selling beauty. The essence of your venture is to assist people in the enhancement of their looks quick and effortless.
If you're selling engagement rings, you're not just selling an accessory; you're selling two lives joining together in marriage. If you sell life insurance, what are you selling to your consumer? Get the point! Your name has to convey to your clients your main offering to help them solve their problem.
15. What is the main contribution to their lives that you can deliver that your competitors can’t?
16. Think earnestly about the problems your business solves, the want, need, or craving that your service or product will meet for the consumer.
17. There are many names in the world that almost everyone in the world would without a doubt know or notice. A lot of businesses around the globe are beginning to accept a global observation when naming their businesses, precisely now that millions of individuals have access to the world wide web.
18. If your goal is to reach a local market, then utilize a name noticeable in that industry. Utilize business names distinguishable to that industry. Also, if you are familiar with any of the NEW gTLDs, then utilize one of those extensions if they make sense for your venture. For example, DOT Vegas (.vegas) is excellent for the Las Vegas region.
Las Vegas is distinguishable to millions of people. Almost everyone knows that Las Vegas is The Entertainment Capital of the World, and the extension helps businesses to stand out from the regular .com extension.
19. Make sure that within your business name that you include attributes that make a dynamic business name, such as easily pronounceable, memorable, spelled correctly, short and to the point, purposeful, and transparent.
20. If consumers share your website or business name by word of mouth or through any social media platform, will they say something positive or negative?
21. Will the customer be ashamed to say your company's name?
22. Will your customer be boastful of about your business?
23. What will the other person hear from your customer? I’m sure that you know that word of mouth is priceless and you definitely would want to inspire potential customers to advertise for you via word of mouth or social media.
How to Find out If a Business Name Is Available?
Now that you have decided on a name, you need to register your company name. First and foremost, make sure that the name doesn’t encroach on any other businesses name or trademark. You should check the USPTO (United States Patent & Trademark Office)to see if your potential name violates any Trademarks in the U.S.A or abroad.
Utilizing the USPTO’s database will help you conduct a more thorough trademark search. If your name doesn’t appear in their database, then definitely purchase a trademark or service mark for the name that you have chosen to use for your business.
Are you planning to form a Corporation or LLC? If you set up a Limited Liability Company or Corporation, you may have to place a business name identifier like “LLC” “Inc.” or “Corp.” at the end of your business name.
In the meantime, your state will prohibit you from using a business name that is already in use. Notably, in many states, you can’t use a name that is artfully very much alike to another name. Not saying that is something that you would do, just stating the facts.
In any case, you can go to your state agency website to review all of the guidelines that you will have to follow to register a business name. Also, you will be able to search all the registered business names online and see if the one that you want is free for you to use. Likewise, your state may have names that the officials have put aside that are not permitted for you to use as your company name.
Moreover, if you need time to form your entity, most states will authorize you to secure a name. In Nevada, the NSVSOS.ORG website offers forms to reserve a name with the Secretary of State's Office for 90 days. Reservation subject to availability of the name. (Fee is $25.00)
If the name is available, you should then check to see if the domain name is available. You can check the domain name availability by visiting Name.com. If the name is available, make sure that you buy the domain name, until it is time to build your website for this new endeavor that you are creating.
Now that you have found the name that makes you feel good you probably should consult with an attorney to help with the creation of your legal entity. It doesn’t hurt to receive professional guidance to ensure that procedures are done correctly.
Another thing that you can do is visit your local government’s website and view their business startup checklist.
Final Thoughts When Naming Your Company
Yes, choosing a business name or a domain name is time-consuming. A lot of thought goes into the naming process. By all means, do not create a name that you will find discomfort with later on in the future. Keep in mind that you are branding your business and you will have to be content with this decision.
All things considered, if a person recognizes your business before the competition, then you will have a high dominance over your competitors. I don't know whether there is the "ideal name" out there?
Although, I do know that a good business name is a continuation of your business venture. With that in mind, the name can boost the financial worth that you contribute, or it can distance you from the value that you provide.
It is imperative in today’s age that your business stands out from the competition and that starts with the naming of your business and website. Heck, there is a lot of thought that goes into creating a business.