Naming your new business can be very confusing at times. As confusing as it is, it’s still really interesting to do and it’s something many new business owners look forward to. But do you know that a business name can make or break your business? A good business name can make it easier for you to succeed in the business while a bad one could harm your chances of survival in the business. This is why large corporations spend millions of money choosing a name and developing their brands.
Below are a few things to consider before choosing a name for your business:
- Do a google search for similar names: The last thing you would want is to risk being misplaced for another business. When I was trying to get a name for my book club, I googled many of the names that came to my mind. Out of all the names, only one wasn’t in use, so I went ahead to pick it, all because I didn’t want a clash of identities. Do a proper name search on google or other websites for that purpose.
- Consider a domain name: A domain name is an address where Internet users can access your website. It is usually business name-specific. So whoever searches for your business online gets redirected to your site address. Your domain name must carry the name of your business otherwise it won’t gain visibility through its website. There are many websites you can check domain names from.
- Think about the future: In a few years, how will you feel with that business name? It might be funny or even appropriate now, but will it be in the future? Will it project your brand as correctly as you want or will it be shameful and difficult to relate with? Also, how will investors feel when they hear that name?
Your business name should easily explain or project the sort of business you run. If you want people to understand what you do, make your business name obvious and unambiguous.