A business name will either help your company succeed or hold it back. Choosing the right name for your start-up company isn’t always the easiest, but it needs careful thought and consideration.
It’s important to remember that your unique business name may already exist in the online universe. That’s why it’s essential to run any potential business names you have in mind through websites like BrandSnag.com. This website works as an extra set of eyes, confirming whether your idea already exists online. The last thing you want as a start-up is another established company that shares your name.
To help you select a unique business name, consider the following 7 tips:
1) Don’t limit your business with the name
Although you’re committed to selling shoes online, choosing a business name that itemizes your products can seriously limit any future expansions. Having a business named Discount Shoes may work for the short term, but if you decide to add clothing and make-up, the business name doesn’t match the platform.
2) Avoid Unique or Difficult Spellings
Your customers want to connect with your business as quickly as possible. Getting confused with the name or spelling of your company is the last thing they should experience. This immediate contact is significant within high-demand industries that have many competitors. Always remember, if your customers can’t find you online, they can easily find other similar businesses without struggling.
3) Determine Your Target Age Group
There is a vast difference between a children’s store selling educational equipment and a brand new bar catering to the young adult crowd. Ensure you assess who your target audience is, where they currently shop or hang out, and look at the various names associated with those locations. A trendy, edgy name might seem like a great idea but won’t be well-suited with infant attire. If your business will cater to everyone, make sure you opt for a more straightforward, more relaxed name.
4) Say the Name Out Loud
Although there are plenty of names that sound amazing on paper, there’s the odd time a business name doesn’t roll of your tongue when spoken. Ask a few people to pronounce the name you’ve written down. See how it sounds with different tones, accents, and without prompting. After you’ve done this, find new individuals and ask them to spell your business name out loud. If anyone has a different spelling, reconsider the name choice.
5) Always Do Thorough Research
There’s more to picking a great name for your business than something quick and catchy. Make sure you take the time to research your business’s name correctly. Is there a different meaning in another language? Look into all possible competitors and ensure your name doesn’t sound like an imitation company. You want your company to be unique and original; by researching extensively on your business name and the competition, you’ll protect yourself from a potentially embarrassing or expensive situation.
6) Put the name to a Vote
Once you’ve established 4-5 different names for your business, ask other people what they think. This vote can be in person, on the street, or casually on social media. The idea here is to garner as much feedback about your business name as possible. If you’re the organizational type, ask people to rate the potential names in order of preference. Try to have a reasonably large sample size with different age groups.
7) Consider any abbreviations or acronyms you might use
For businesses having multiple names, always look at the shortened version of the name. While you may have no intention of calling it by the initials, having a business named “Pete’s Extra Earth” is an abbreviation you’re never going to live down.
