5 Tips for Choosing a Business Name
Like a newborn baby, every business needs to be named, but not just any name will do. Ideally, you pick a great business name that is unique and catchy. When you’ve chosen wrongly, it is difficult to go back and change it, so it’s best to get it right the first time.
“When people hear a name, they should be both intrigued as well as gain a great idea of what the company does,” writes Brad Hines in his article Name That Company to Dazzling Success, published on Entrepreneur.com. Hines lists five guidelines that will help you come up with the right name for maximum success.
5 Tips for Choosing a Business Name:
1. Don’t name it after yourself, unless your name is already an established brand.
2. Let loose and brainstorm like crazy. “Have fun with it. Don’t take the process too seriously. Look at the rhymes in goofily named women’s fashion retailer ShopBop.”
Once your creative brainstorming process produces a few favorites, get feedback from friends and the marketplace. “Ultimately do market research for each name. Hold a focus group, poll your email list or use research websites to find out which names people like the best and why.”
3. Consider domain name availability. You’ll be able to leverage your brand uniformly across the web if your URL and business name match.
4. How does it read as a URL? Consider the versatility of the name for usability as a URL. Can people easily type it into an address bar?
5. Monitor how it is used in various contexts before committing. Set up some search alerts for it and to ensure that if you use it as your company name, it will come across the way it is intended.
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