A very important part of setting up a new business is to actually come up with your business name. Believe it or not, choosing a business name can be very difficult. Not only do you need to find a name that is memorable, you also need to find a name that is not already registered by another company.
Your business name can have a positive or negative branding so be sure to choose wisely and don’t rush into registering a name you are not 100% happy with. As coming up with a business name can be time consuming, I have come up with some pointers to assist you in getting the best name for you:
Your business name needs to be fairly short to give people a fighting chance of remembering you. Try and stay away from using numbers as letters, and don’t try and be clever by trying to swap letters around.
In my experience, it helps to keep the name simple. Ultimately you need to ensure that people will be able to remember it and most importantly be able to tell their friends. Coming up with a quirky name might make you harder to remember and impossible to find in search engines (This is covered in further chapters).
Try and think about companies that you have remembered just through seeing their name,or the name of successful businesses, this may help in identifying what helps a name stand out.
Chances are that you’ll want your business name to do describe some aspect of your product. It makes sense to associate your business name with the activity or products your business is providing.
Try and add references, prefixes, nouns, verbs or adjectives to the activity. For instance, if your business has something to do with sailing then add “Luxury Sailing”.
Generally a business will need some sort of logo to help with marketing and branding. As you come up with potential business names, try and also think about how a logo might suit. Will the logo look better in certain colours with regards to your business card and website? Try to think about some logo’s that have stood out to you to help you identify what helps a logo stand out.
Think about what emotions or moods colours bring to people. For example red is suggested as a aggressive colour, whilst green and yellow are more calming. It might help to research about colours and how they are perceived by people.
Another very important aspect of choosing your business name is to ensure that there is a domain name available that suits your business name. There is nothing worse than getting a company registered and then finding out that the domain name is not available. Most people will try and google your business name, so if your domain name is not relevant to your business name, then this may result in loss of business.