Are you thinking of starting your own business? Most entrepreneurs plan for almost every aspect of their business and forget what is most crucial, the business name itself. A name can either make or break your business. When you pick a suitable name, your business is more likely to do well compared to one that has a sloppy name. So, what are some of the things that you need to consider when it comes to picking the right name for your business?
1.Choose a name that sounds good when said out loud
Personally, I am a huge fan of alliteration. These are simply words that have the same sound when pronounced all together. A good example is Coca-Cola or Jimmy John’s. Whatever business name that you have in mind, try saying out loud to your peers and hear how it sounds. This however does not mean that it has to be a tongue-twister.
2.Pick a name that has a meaning to it and spells out a benefit
When your prospective clients hear your business name, they should immediately have a clue or know what it is you sell. For instance, when your hear the name Mcdonald’s already fries come to mind. Your business name is also your number one brand. Please don’t try to copy other existing business names.
Avoid generic names when looking for a suitable name for your business. A generic name is one that does not mean anything. A name that is more specific also communicates to your clientele about what your product or service.
4.Consider your long-term growth plans as a company
Depending on what your business goals are, you may want to do a Business name search on a name that you can trademark. This is particularly important if you want to expand your brand.
5.Test the name on Google AdWords
Digital marketing is a great marketing tool that most companies use currently. You want to pick a name that can easily feature as a keyword on Google AdWords. This will help generate online leads and you will direct traffic towards your business website.
6.Choose a name that is short and simple
Jack Ma, the founder of Alibaba, one of the world’s largest ecommerce websites today says that he chose the name after asking a few strangers whether they knew Alibaba. Most of the answers he got were in the affirmative and bingo! That was it. You sure want a name that people will easily remember. An unforgettable business name is what you need if you want to be the first person your clients think about when they need a product or service that you have to offer.
Choosing a business name should not be a hard task. Make a list of three or four options that you have in mind. Compare the names against the above checklist, is it memorable, easy to pronounce, does the name sound good when said out aloud? These are not all but are just a few tips that can come in handy when you want to pick a great name for your company or business.