One of the Most Important Factors and Challenging Step to Start a Company is Choose a Business Name. know you think What`s in a name? A lot of things depend on a name when it Comes to Business success. The right name (Yes) Right Name Will make your Company a brand not in the whole town Also nationwide. But exactly the opposite side The Wrong Name? Your name should convey the right message of your business. Your business values, expertise, uniqueness, Goals, Customer satisfaction, and the main thing your Products and services.
Some of the Startups Choose their Name early and Finalize their name in the first step then move. But Some Business owner stuck and can`t identify a business name that fits their market, attract customers and compete with their competitor.
How to Pick a Company Name? Expert`s Opinion
There are hundreds of experts. who believe that the best name can represent your business image to your clients/customers. Some of the thinks That the Business name should be catchy and informative. So customers know what kind of business you do. Some believed that the unique name is memorable or some say no those name are forgettable.
Coming up with a good and Unique business name can be a complicated process. You might consider consulting an expert to help you to choose a better name. Especially if you’re in a field in which your company name may influence the success of your business.Entrepreneur Staff
Your Business needs a name, and it`s the most important decision you make. The name of your business has a tremendous impact on how customers and investors view you, and in today’s small world, it’s a world-wide decision.
it’s a struggle to identify a business name that truly encompasses the business and everything it stands for.
In Real World, Any name that you choose or Like Can be More Powerful. If you have a good Marketing Strategy. Every Business needs a Rocking marketing strategy. That makes your small Brand a national or international Brand. So keep in mind that after naming your business work on Marketing Strategy.
Now You think that coming up with a unique business name was a difficult process. YES, it is! But Nothing to Worry about that.
what is a Good Business name?
The Good business name communicates to the consumer about your business, the name defines your all services and explain it. According to naming experts, entrepreneurs and guru`s they choose real words or some combination word to make a unique name. but people understand words that easy to pronounce and memorable.
you also need to develop a mission statement that will help you to pinpoint the exact elements you want in your name. It is possible that your name is meaningful but the main pitfalls depend on two things. Geographic and Generic names. So when you choose a name both Meaningful or broad keep in mind that the descriptive names tell something about a business but the other hand suggestive names are more abstract.
Here Are Some Quick Tips whether you start online business or Physical Keep those points in mind.
Choose a Name that attracts customer not yourself.
Choose a name that has some memories so you can attract client/customers emotionally
Don`t pick long or Confusing name
Avoid Those Mistakes When Naming Your Business
Choose a business name is a Difficult step in business. Before you read how to choose a business name lets to look into some mistakes. once the name is final all company or business depend on it. So we are here to stop you to make a Single mistake here are Some mistakes that every startup business do with their Business name when they starting a new business.
1. Involved Other in your Decision
Yeah! we know that you live in a Democratic world and involving other people in opinions are pretty fair in your life. Specially involving Family, Friends, Employee, and clients in an important decision. This is Good but not in choosing a business name. Because you end up on one name and if you involve more people they don’t agree on one name so maybe you choose the wrong name.
You may be listening that “The Fewer the better” So involve those people who are a decision-maker and heart of your company. The more people you involve the risk increase to end up with a bad name.
2. Don`t Force yourself To Come Up with Catchy names.
When you are sitting for research and want a catchy name for the business. Then mistakes happen more than 85% of Entrepreneurs Fail to choose a good name that`s Why they fail. They fail because they think to take an adjective and mashup or play with that and Done. No that’s not a truth. when you do this, you have a name but cant attract your audience who make you famous.
If you don’t Take Care the target audience you don’t touch the success and your competitor take care of your targeted audience. So name your business a Meaningful and memorable name
3. Don`t Use Plain and General Name to Ruin your startup.
If you are using some basic or too simple names for your company you can’t exist in the crowd you know why? Because in this century if your name is not descriptive or represent a company message you are finished. Because of people hard to remember your name, For example, your company name is General Tyers pr general Motors. how you think that people attract with that name.
A simple example is that what if yahoo name their company “GeneralInternetDirectory.com” instead of yahoo. Nothing is better than a Well Organised, descriptive name.
4. Don`t Limit your Company Growth.
when entrepreneurs and businessmen start a new company. Many of them select a City, state or region name in their business names. The main problem is that if you are willing to grow a company that works in Petersburg and you move to another state with the name of “Petersburg Motors”. When people look in yellow pages or search in google they think that they just serve in Petersburg.
To avoid Those mistakes if you are growing your business to different cities, states or countries. However, You are not growing your business then it’s ok. Avoid those little mistakes from early and save your company or money.
5. Customers will never know what it means.
it’s great for a name to have a special meaning and power. The name has a story of your company and represents your story to the right audience. If your name is hard to spell and pronounce. you lose your customer engagements. if the name has a natural sound or special meaning it can work. if the name is complex and puzzling it will remain a mystery to your customers.
Every mistake makes your business name a worst then you think so don`t worry about that we have Complete Guide about how to choose a business name.
Complete Guide: How to Choose a business name
Its time to take a pen pencil or notepad to Follow all the five-step to get a Best Business name for your next startup.
A Name Can Make Your Business a Brand
you may be thinking that what`s in a name? From today when you choose a business name. people know your brand for that name so be patient and never do a single mistake and follow those methods to get a unique and creative name that works for you when you sleep.
So after this complete process. you are able to Finalize the right Business name For your startup.
First Step – Know How to Name Your business that attracts customers.
A Fancy name that will approve by you and your friends is good? No, You are not starting a business for your friend you are starting a business for your targeted audience. An audience that buys your product or hires your company for any kind of service. So its time to know about your audience that what kind of audience waiting for your product or service.
What is your target audience?
In this step, You find what is your targeted audience. Your audience age, interest, demographics, and Gender. For example: If you have a Men saloon then what is the age of your customers? what they like or dislike? etc.
- What kind of business you have?
- Who is your Target Audience? Write their Age, Demographic, location, interest, and Gender?
- Who is Your Competitor? Write down all the names.
- what`s Your unique Selling Purpose (USP)?
- Did you do a swot analysis of your Business?
- What is your Big Idea That makes you unique and Different from others?
- How your skills contribute to your own Business?
- Your Business Scope? is it international or local?
- How Much Capital Do You Need To Start Business?
- How Much you afford to spend your budget on marketing?
Step 2- Brand Archetypes and Personalities for Brand Strategy.
The 12 Brands Archetypes To Built Your Successful Business.
97% of businesses name stand without archetypes. without knowing your business or product archetypes you don’t choose the right name for your business. So in this step choose a Brand archetype that in which archetype your business belongs.
Step 3 – [Brainstorming] How to Name Your Business.
The most important step is Brainstorming in every creature work. You came up with brilliant ideas and names after brainstorming so Always keep in your mind your catchy name depend on this step so make this step perfect. but some of the important factors involved in choosing a business name in a brainstorming session. Write all the names that in your mind but shortlist those name that has following points.
- Your name is descriptive. People understand your name.
- Name is not too general or vague
- Use only related words in a creative way to get Creative Business name.
- Your name should be simple and bold. Because Everyone loves That!
- Make sure your name is different and unique from your competitor.
- Using your own name is now old fashioned.
- The name should be scalable
- Make sure you have a related domain name.
According to the survey best companies name stand with 15- 35 words some companies have more than 60 worlds.
7 Types of Business Name:
- Acronyms. (eg. IKEA, TJX)
- Mash-ups. combination of two words (eg. Hand+ Stone = HandStone)
- Get inspiration from literature and geographical. (eg. Sahara)
- Use foreign words. (eg. Hunerkeda, Maisons du Monde )
- Symbols (eg. Noway, Circle Square)
- Add extra Letter to name (eg. Canforama)
- Pick a word from the dictionary (eg. Eyepecker)
Now you have a clear understanding of the business name. Now choose brand archetypes that suit your business. Then avoid common mistakes and choose a name type. what kind of name type is best for your business.
Magical Secret To Choose a Business name.
There are too many companies who charge hundreds of dollars and give you a unique name. People want to know how they get a name. Here is the secret formula to name any business product or company. just put keywords into given [keyword] and after that, you have more than 500 names for your business
- [Keyword]+ optics
- [Keyword]+ Opticals
- [Keyword]+ Eyewear
- Opticals + [Keyword]
- [Keyword]+ Society
- [Keyword]+ Centre
- The [Keyword] Optics
- Its [Keyword] Eyewear
- [Keyword]+ [Keyword]
- Location + [Keyword]
- [Keyword]+ Location + Hub
Its Example of Fiber optics Business name
Step 4 – Shortlist Few Creative Business Names.
Now you have 500+ unique Business name ideas but you need a perfect one.
- Choose the top 25 names to shortlist them
- After that Filter more 15 Names.
- Now remove 5 more and than you have top 10 optical store name ideas.
Now you have 10 names but you need just one name so check all of the shortlisted names and then pick one of best top-level Business name.
Step 5 – Check Business name availability.
So check availability on Three platforms.
Search on Google: Type your Selected business name on the google search bar and search. To check the name is not taken by another company or registered to your desired name if not then move into the next step.
Domain Name Availability: Type all your name that generate from brainstorming one by one on Domain provider Search (Namecheap, GoDaddy, etc). Check which domain TLDs is available for that name. if the name available in .com that`s Good if not then look for .co, .org.
Social Media Username Availability: After domain registration check all social media sites username for your business. keep in mind that all social media site have the same name rather than different names. So check availability of your name from the given method.
For Example www.facebook.com/Tiplance
Step 6 – Test your Business name.
Before registration, You need to test your business name. Simply ask the targeted audience some questions. Then get some name reviews from friends, customers, and some name experts. some of the questions are given below.
- How people react when listening to your optical store name?
- Your name convey the right message or not?
- it`s a good name for Your optical store?
- People remember your name or not?
- is it easy to pronounce?
Final Conclusion About Business Name:
After Reading article, you Came up with Five to Six names. you are lucky. You Pass all the steps now its Final Decision time. But the Question is rise that How Do you make your final decision about choosing a business name?
Know you have Clear concepts recall them and think! Which name Describe your goal & objectives? Which name is the best representative of your business? Why your final is better than other names (Reason)?
Keep in mind that if you choose a firm to name your business. its take six weeks to Six months maybe more than that. If you Don`
t have enough budget and May be you have budget and don`t Spend on this Process just remember to spend at least one month on choosing and planning your business name.
Once you make a decision on Final name move into next but Most important step Marketing. one more thing to remind that after choosing a business name immediately start market your business name so people know that Something is Coming in the market that will Crash all Their Competitor.
Good Luck for Your New Business If you have any query let me know via [email protected] or Comment Below.