The process of choosing the right business name is hugely underestimated among people. They don’t understand the value a good name can provide to the business and its impact on the users. In contrast, a bad name can leave the worst situations open for you in the form of lost customers and other troubles. Thus, dedicate a significant amount of time and read this guide to utterly understand the nuances of choosing a business name.
Top 5 Rules on How to Choose Business Name- No Hard Names: The first rule to choosing a good company name is avoiding hard spelling, pronouncing, or remembering names. You don’t want a situation like your customer wants to reach you but is unable to remember your name.
- Use Scalable Name: The second rule to choosing an efficient name for your business is not limiting it to a particular niche. For example, if Amazon was named “E-Books”, he would have to change it. Avoid names that clear your niche like recipes by John Snow or Easy Weddingz, unless you are sure about being in that field for your whole life.
- Do Good Research Researching is required at many stages while choosing your company name. Some preliminary research should be done, research about brainstorming tools, play with words, and if you are at some middle stage and have some suggestions, then checking it on Google. Make sure no one has it and there are no social media platforms or any other work going on by the same name.
- “.com” Trap There’s this hype in the market to choose only .com domain names and we think it is unnecessary. Think about it, you have found the perfect name for your business and now need to skip it because .com is not available. Indeed, the “.COM” domain carries high authenticity with it but if you don’t have the option, then there’s nothing wrong with .net, .org, or .site.
- Name with a Meaning Usually, this is not a mandatory rule but is recommended to business owners. If your business has some meaning in it, then potential customers would find it easily. You would also have a hard time building your brand if there’s no meaning to it.
Also, make sure that there’s no negative meaning, even in some other language. For example, a car model of GM, Nova, means “doesn’t go” in Spanish and the firm was not aware of it.
3 Tips on How to Choose Business Name- Get Feedbacks: Generally, the rule is to make a list of the best 5-6 names after a thorough research & brainstorming session and then make some suggestions. Show the list to the people with the finest taste and take feedbacks. Make sure not to take every suggestion from them as you know your company better than them. Instead, take an idea from 5-6 people and choose yourself only.
- Choose No Explanation Names Make sure your name is one such that doesn’t need an explanation to your customers or users. Some good examples are www.MLMyug.com & www.onlinetickets.com, both the names denote clear meaning to their niches.
- Brainstorming Tools: Many tools help you brainstorm different names for your business. The top ones are Naminum, Shopify’s Business Name Generator, NameMesh, Visual Thesaurus, etc. The tools help choose business names to use visuals, suggest good names, and work according to your theme.
- Too General or Vague Name: One mistake people make is choosing a too vague or general name for their business. There are flaws to this like the name sounds boring, lacks creativity, and sometimes is not easy to remember. Indeed a simple one is recommended but going for too general doesn’t make you stand apart in the market.
- Copying Competitors: The worst mistake you can make while choosing a name for your business is selecting a similar sounding as your counterpart. You are confusing your customers and giving a portion of them to your competitor. The thing is also not healthy for your brand image and presents unoriginality.
So, this was all on how to choose a business name. There are several other points to the list but one doesn’t need to keep a check on all of them because as we said, you know your business than anyone else. However, note that it shouldn’t have more than three words, avoid using your name, and understand the essence first.
