4. Being Descriptive
A business’ name reflects its brand and message. Therefore, the perfect name will bring up positive emotions and carry a positive message about the company’s identity and mission. The best names have descriptive words that convey what a business provides. The name should have an immediate positive impact on customers, who will right away understand what the business does or is trying to do.
5. Sharing the Story
If a business has a unique story regarding its origins, then this should be shared in its name. This strategy can help customers recognize the company as well as help create the brand.
6. Leaving Out Personal Names
Even though it is common to see a business name include the owner’s personal name, this is not advisable. By using one’s personal name in the business name, it is all too easy to narrow one’s business and cut off future opportunities. For example, if a company calls itself Jack’s Joke Store, this name might work in the local community. However, it might be hard for the brand to expand itself in the future.
In order to come up with a creative and unique name, a business owner should think of two or three words that describe the business’ purpose or values, as well as the services or goods that it will provide. Play around with the words and see how they can fit together in fun ways!
Think about the chicken restaurant Bad Mutha Clucka and hair studios named Curl Up & Dye. These are fun, creative names that people remember. When people remember a company’s name, the business can build a following.
Some businesses don’t use wordplay so much as combining two simply words. AirBnB emphasizes the modern, digital way of booking bed and breakfasts. As illustrated by the name, TripAdvisor helps customers plan and book vacations.
8. Doing a Business Name Search
If a business is going to be a limited liability company (LLC) or a corporation, then it is necessary to perform a business name entity search in the state to make sure no other businesses are already using the name. It is not allowed for new businesses to use names that are either the same or too similar to existing businesses. Sometimes, states will reject formation filings because of this. Therefore, it is advisable to check the availability of every name considered.
It is also a good idea to perform a trademark search to make sure there is no trademark on a name. The United States Patent and Trademark office has a database that lists whether a name is trademarked already.
9. Securing a Domain
When a business owner is deciding on a name for his or her company, they should also check that the relevant domain name is available. Generally, it is best to have a domain end in .COM, .NET, .ORG, or .CO. That said, the name is still more important than what the domain ends in. If one’s desired domain name is not available, then it might be best to consider a different name.
10. Checking Social Media
Nowadays, a successful business needs to be savvy in all things related to the internet and social media. These platforms offer priceless marketing opportunities.
When a business owner comes up with a potential name, it is recommended that they run the name through various social media sites to make sure the name and brand is unique.
11. Thinking About the Future
When coming up with a name for one’s company, it is important to think about future opportunities and possibilities. For example, let’s consider a bakery called Muffins Galore. Maybe a few years down the line the bakery decides to expand into cakes. In that case, the name Muffins Galore no longer fits the business. When thinking of a name, therefore, it is advisable to avoid words that are too limiting and prevent future growth.