Choosing A Business Name
First Published: Feb 21, 2011 EntrepreneurJourney.com
When you are starting a business, there are several things that you need to do in order to make the business successful and one of the most important is choosing the right name. As odd as it seems, choosing the wrong name can sink your business just as easily as if you screwed up a marketing campaign. The name of your business is the brand, logo and face of your business and it is the first thing people will notice about your business. So, if you are going to have a good business name, what do you need to do in order to make your business stand out?
Here are a few tips to help you out.
The first thing you need to do is to look around at businesses that are in the same market at you and see what they have in common with their names. This does not mean you need to choose something similar, but instead you are choosing something that is different but tells people what your business is. For example, if you own a coffee shop, you will probably have “coffee” “grind” or “java” in the name, as will other businesses.
The second thing you should do is make a list of about 20 names that you like and that you are considering for your business. This is important because it will allow you to research each name to see if you can use it. When you research, check to see if it is registered in your area, if anyone else is using a name similar to it and what the connotations of the name may be. For example, if you are opening a craft store, choosing the name Kristi’s Kooky Krafts may seem like a cute name until you look at the initials of your business name.
The third thing to do is to cut your list down to three main names. Those are the names you will choose from. Look at those names, are they witty? Do they stand out? Do they tell people what your business does? Are they misleading at all? Are they easy to put on a sign? How will they translate to a web address? For the last one, if you have a name that is A Dawn Coffee, then you can have a website that is adawncoffee.com. However, if your name is A Dawn Coffee Express and Homemade Grinds Shop, then adawncoffeeexpressandhomemadegrindsshop.com is a bit too long and too much for people to remember.
Once you have the name, you will need to register it. This will ensure that no one can take the name from you and you will be entitled to that name. No one can take the name and use it across the street from you, and it also helps when you are doing the business taxes for your company. So, choose wisely and your name could help your company well into the future.