Starting a new business from scratch is not bed strewn with roses. Especially when it comes to procuring capital, launching products, marketing, and of course, finding a suitable name for your startup. You need to think of the right name that resonates with your audience. Choosing the wrong name could lead to business as well as legal issues. Eric J Dalius recommends thinking of a name that is not only catchy but also conveys what your business is about to your target audience.
Your business name should differentiate it from that your competitors. Here are some of the ways to name your new business or startup:
Think of a name that makes sense
The name of your startup business is an essential aspect of your brand identity. It would show up in the logo, website, business cards, letterhead, brochures, and other marketing materials. The name would be everywhere in print or online so that customers can identify your business or brand name or relate to your products or services.
If you are planning to start a service-based business, figure out whether it would be easier for your potential customers to identify what services you provide. For example, you can use Friendly Dog Care, Smart Accounting, and Delicious Snacks if you are into a pet, accounting, and food business respectively. The names suggest what business you are in, making it simple for your customers to understand what you have on offer.
Keep the business name concise, easy to spell, and remember
Short, simple business names are easy to remember if you know what we mean. Eric J Dalius, a successful marketing professional believes that ambiguous names are hard to spell, write, and remember. If you consider the biggest brands like Google, Subway, Apple, Nike, and Tesla, they have short names.
If you think of vague names, it becomes difficult to create a brand logo for your startup. That is because startups and small businesses often depend on word-of-mouth publicity, and therefore, if the name is hard to remember or spell right, it affects the brand and product promotion.
You need to factor in the acronym of your business name. You don’t have to use that acronym, but your customers may refer to your brand by the acronym. For example, your customers could use BCS for Bright Computer Services.
Do not use narrow or literal names
Name your business in a way so that when you diversify. Your products the name does not become too limited or restrictive. For instance, if your business name is Katherine fashion accessories, it means that you sell women’s accessories. Then, when you expand your business and include men’s accessories as well, your business name becomes too narrow.
The same rule holds when you sell products. For instance, if have the words Trendy Lamps in your business name, think about whether this name will suit. You when you decide to sell antique furniture and clocks as well in the future. Do not make your business name too restrictive or narrow.
Now that you have these ideas to name your new business, start brainstorming. Think of a name that is meaningful, easy to remember, and not too limited.