Choosing a name for your startup business can sometimes be frustrating and time-consuming as it can either break or make your business. Your business name must be unique, add value to your organisation, and embodies its characteristics. It should also be attractive, easy to pronounce, relatable, and memorable. Using the wrong name for your business can lead to legal hurdles or sometimes fail to connect with your targeted customers while a perfect name will help with branding and marketing. Research has shown that 70% of customers patronize many brands because of its name, therefore, your firm name can make a huge difference in your revenue.
Make it simple and unique
Do not be afraid to make a difference. As a business owner, your firm name needs to be unique, memorable, and attractive. It should draw people’s attention instead of confusing them. Nobody wants to be stressed over pronouncing a name therefore, it is important to make the name as simple as possible. Also, choosing an obscure name for your organisation makes it difficult for customers to do research on it or recognize it. Think deeply, write down names or words you connect with, and play it up. Check out businesses that have come up with unique names and look for their similarities. This will guide you in creating a unique brand identity.
The name must be future-proof
Do not choose a name that will limit the future expansion of your organisation. Imagine if the founder of Amazon has named it “online books” therefore, avoids names that will limit your business to a particular way or system. To achieve this, ask yourself what you are trying to achieve with the business, what comes to your mind when you think about your firm name, how do you want to describe your organisation to the world, and many more. Your firm name should resonate with positive emotions and connect with you and your customers.
It should be accessible and convivial
The name you pick for your business must be easily accessible and create a friendly environment for the users even if you made it up. Choosing a word that can be easily typed on google and quickly found puts you ahead of your competitors. You can start with words that have one or two syllables, then find your way to alliteration or words that start with verbs. More so, you can mention the name you coined in the middle of a conversation to know how real your ideal is. Furthermore, you can talk to your family members and friends about it. If they feel confused when you mention the name, then you need to rethink your idea.
Avoid identical business name
It is important to know the name you are choosing is not similar to your competitor’s name as it can cause confusion for your customers. Using an identical name with your competitors might expose you to litigation and you won’t be able to obtain a trademark for your business name. It is also essential to choose a name that you can register as a domain name
Fall in love with the name
Before you introduce your business name to the world, you need to love it and be confident about it. Therefore, explore all your ideas and take your time to choose the best. Get it right now because no one wants to spend more money and time rebranding their business.
It must be relatable
Ideally, you want to choose a name that describes your organisation and its standard to your customers therefore, it is important to create a name that instantly explains your organisation when mentioned. For example, names like Google, Yahoo is self-explanatory because of their catchiness. This kind of business name creates more brand awareness and market itself.
Make use of resources
Many resources are available online that can guide you when choosing your business name. You can also work with a brand naming expert.