Your business name plays a big factor in your overall business success.
A right name can make a big difference in the long run.
Could you imagine Amazon not being Amazon?
What if Jeff Bezos named Amazon, online books exchange?
If you want to stand out of the competition, you have to have a good name.
Truth is, a good name combined with overall good branding is vital.
But coming up with a name is actually a challenging task
You have to consider a lot of factors.
Is the name still available? What is the meaning of it in other languages? Can it be a global name? And the list goes on.
Here are the 5 things you should consider in naming your business:
- Imagine your business name as a global brand
Yes, you may not see it now but that doesn’t mean it will not happen.
You have to look ahead and start looking at your business as a global brand. It’s every business owner’s dream to be known globally.
Let’s take for example the story of Apple, Inc.
In the year 1976, The late Steve Jobs and his business partner Steve Wozniak, named their business Apple when Jobs visited an apple farm. He noted that the fruit depicts fun, spirited and not intimidating.
Four decades after, Apple is known to be the most innovative brand.
2. Your business name should convey a message
Nike was supposedly named as Dimension Six. Founder Phil Knight supposedly chose the name because his love of the pop group The 5th Dimension.
They are already packaging their newly produced shoes when Jeff Johnson, BRS’s first employee, thought of the name “Nike”.
Nike is the Greek winged goddess of victory.
And the rest as they say is history.
When you are choosing the name of your business, you have to think of the long term repurcussions of it.
You have to think globally.
3. Is the Domain Name available?
One of the most important steps in choosing a business name is making sure the domain name is available.
Without a domain name, your business will have no presence on the Internet.
Without an Internet presence, your business will be severely disadvantaged. Although many different types of domain names endings are becoming available, it is preferable that the domain ends with “.com”.
4. Avoid complicated names
Don’t choose a business name that is hard to remember.
Chances are, when your customers will first hear your brand, they could search for it.
Having a hard to spell business name could be a major factor in that.
Names like Nike, Bench, Lalamove and those business names with easy spellings could better be remembered
5. Conduct a thorough research
It’s your duty to know if your business name is already taken elsewhere
You have to search the meeting of your name in other countries for it could prevent you from growing globally
You have to search if your name is already a trademark of other brands
Overall, naming your business might take a lot of your time. But remember that everything will be worth it.