How to Choose a Name for Your Business
What’s in a name?
You’ll get different answers depending on who you ask. Some people attach special meanings to their name, usually depending on their culture.
In business, however, a name can be everything. When you think of global brands like Nike, Apple, and Starbucks, it’s hard not to marvel at the thought that went into their naming.
As such, if you’re currently looking to start a business, it’s crucial to pay attention to the naming process.
To help you get it right, here’s a guide on how to choose a name for your business. Read on!
Choose a Relatable Name
An ideal business name should be relatable to your product, service, niche, or industry. You want someone who has never heard of your company to at least have an idea of what the company does.
For example, if you’re starting a landscaping company, the name should point to the fact that you’re offering landscaping services. Consider these two names, for example:
- Green Lawn Landscaping
- Infinity Contractors.
There’s no doubt that the first name shows the company is in the business of landscaping. As for the second name, one can tell that they offer contractor services, but it’s not clear which services. It could be home renovation, HVAC installation and repairs, plumbing…it could be anything.
You don’t want your business name to send a confusing message to potential customers.
Of course, this rule doesn’t always apply. Nike doesn’t have any direct relevance to sporting goods. Neither does Apple mean anything close to electronics.
You can use this strategy of randomly naming a company, but unless you have a big marketing and branding budget, you’ll only be making work harder for yourself.
Simple and Memorable
A business name should be simple and easy on the memory.
At a time when the average attention span of a human has been on the decline, reaching a low of 8 seconds, many people are having trouble remembering things that aren’t immediately important to them. Add this to the constant consumption of information on the web, and you can see how remembering a business name, especially one belonging to a newly established enterprise without any market presence, can be tough.
Don’t make it any harder for your target audience to memorize your business name. This is why you need to craft a simple, memorable name.
Keep Legal Considerations in Mind
No two businesses operating in the same territory can have the same name.
You can’t just name your business “Nike” for instance. You’ll certainly be violating trademark laws.
In fact, when setting up a business, you have to register it with the relevant authority in the territory. If your name matches that of an already registered business, you won’t be able to proceed with the registration.
When naming your business, come up with multiple names and then conduct a name search. Click for more information on how to go about a name search in Ontario, Canada.
How to Choose a Name for Your Business Made Easy!
You can’t have a business without a business name. This, though, doesn’t mean you randomly slap a name on the business. You have to be thoughtful about it, whether you’re naming a corporation or a sole proprietorship. Make use of this guide on how to choose a name for your business.
Keep reading our blog for more entrepreneurship tips and advice.