How many times have you driven past a building, scrolled past a website, or noticed a logo on the side of a vehicle and felt completely lost? Who are they? What do they do? What services do they offer?
In all likelihood, you looked at this business’ name, felt confused for a moment, then forgot all about them. It goes without saying that when you’re building a business, this is the last thing you want to happen, but the truth is, first impressions are important.
If you don’t know how to create a business name, you risk missing out on customers, and therefore money, as a result. But don’t worry, we’re here to help!
Listed below are a few tips for naming a business in a way that encapsulates who you are and brings in customers at the same time. Keep reading to learn more.
Find a Balance Between Simple and Original
The best company names are ones that are both simple and original. This is easier said than done when you consider that there are over 30 million small businesses in the United States alone. Finding a name that isn’t already being used is tough!
On one hand, you don’t want to name your business something that resembles multiple other businesses in your field. On the other, you don’t want to give it a name so far out of left field that it’s impossible to tell what your business is at first glance.
Your business name should be simple in that it should be easy to both spell and remember. This is especially important because of the prevalence of the internet.
The last thing you want is for customers to be forced to try twelve different spellings before they find the right one. Because chances are, they’re going to give up and forget about you altogether.
In addition, you don’t want a name that you have to explain or apologize for. It should be meaningful to your customers or audience as well as to you.
Put Your Domain Name First
When you’re brainstorming business name ideas, your domain name needs to remain at the forefront of your mind at all times. This is so crucial, in fact, that you’ll need to ensure that the domain name is available before you get too attached to any business name.
The importance of having a website for your company or brand cannot be overstated. We’re in the age of the internet, and without a strong online presence, you’ll struggle to get your business off the ground.
There are a few things to consider when choosing a domain name. First, remember that ease of spelling is essential. Also, don’t name your website something that’s spelled differently than it sounds, and avoid using numbers in your domain name.
If at all possible, your domain name should end with “.com.” This will ensure that your name is unique and help you to establish credibility with your audience out of the gate.
Don’t Pigeonhole Yourself
Let’s say you’re developing a clothing line and you’re going to start with t-shirts. Is there a chance that you’ll expand your business to offer other clothing items as well in the future? If so, you want to name your business something related to clothes, but not specific to t-shirts.
When you’re naming a company, the name should be scalable. In other words, it shouldn’t limit your future growth.
You can’t predict the future, and companies rebrand all the time but keep in mind that this process is time-consuming and can be expensive. You also risk confusing customers with the change. Your best bet is to choose a name that can grow with you.
For example, if your company focuses on a certain city, but you might expand in the future, considering naming it after the area or region rather than the city specifically.
Don’t Use Your Name
If you’ve already established yourself in your niche and with potential customers, you can use your own name. Otherwise, this should be avoided. The name you choose for your company should communicate to others what your business is about or what it does, your name does nothing to help achieve this goal.
And, should you ever want to sell your business down the line or even expand your services, naming it after yourself can cause problems. There are rare examples where a business owner was able to find a clever way to include their name in the business’ name and make it work, but it’s risky. It’s better to give your brand its own name.
Inject Your Personality
This is your business, it should be a reflection of you! Don’t play it so safe with your company name that it becomes boring and forgettable.
Consider all aspects of your business, as well as your own personality, when naming your brand. What does your mission statement include? What does your business plan look like? What sets you apart from your competition?
It’s also good to consider what feelings and thoughts you want to evoke with your business name. Choose something that reflects you and the message of your business and you can’t go wrong.
Learn How to Create a Business Name to Get Off on the Right Foot
Like it or not, it can’t be denied that first impressions are extremely important, especially in business. And one of the best ways you can make a great first impression with potential long-term customers is to learn how to create a business name.
With the right business name, you’ll be getting off on the right foot and increasing your chance of building a thriving company.
Interested in learning more about building the best business possible? Take a look at our blog!