"What's in a name?" said Shakespeare, as you may already know, a lot, one might say! Especially if you just created your own business and you are planning to choose a name; the right name will be your business passport to instant curiosity, which could be read as prospective business returns in the long run. The idea behind choosing an 'ideal name' for your business is to let your potential client knows that you are a 'name to reckon with' and you can’t achieve this without catching their attention.
So, if you’re starting a new business, you have to keep in mind that your business name can make or break your company. Develop a name that conveys value, uniqueness and the expertise of the product or service that your business offers. Depending on how direct or indirect you want to be, is up to you.
Five tips for naming your business:
1. Your business name is short and powerful
Have you ever thought of how short most successful global brands names are? Take for example Apple, Google, Pepsi, Tesla, and Adidas. All these names pack a powerful punch and at the same time short in length. So where you’re planning to pick a brand name with the same brilliance and excitement, keep the name to fewer than 12 characters.
2. Winning company names have bold texture and clarity
You will know a great brand when you hear or see it, as their names just keep rolling off your tongue. This is also what you should consider when creating yours; the name should be clear and easy to pronounce that a 2-year-old will be able to pronounce it. The easier the name is to communicate, the easier it will be for your customers to remember.
3. The name should be expandable and integrated
Avoid picking names that are limited to a product type or in geographic. For example, you choose a name like "Chattanooga Make up Service,” firstly the name is too long and cumbersome. Secondly you will be limiting your business to Chattanooga, Tennessee.
4. Avoid names with numbers, and other non-alphabetic characters
Generally speaking, you will only be confusing your customers when your business name includes numbers and hyphens. Try to stick with alphabetic characters. But, make sure you pay close attention to clear communication if you decide to use a non-alphabetic character like &, %, @, #.
5. Make sure the domain name is available
With the rate at which the commerce business is growing nowadays, your business means the.com domain extension. So you need to choose a brand name that has matching .com domain availability. For most businesses, a great name is of little use unless you have the exact-match domain.
Choosing the correct name may well be your mascot to the world of business, which is why one needs to give enough thought to the process of choosing one! Your choice of name should harbour on a perfect blend of practicality aligned with the need to be eye-catching and different enough.