Choosing a Great Business Name is Hard - Here are 3 Things to Consider
3 minute read
Choosing your business name is one of the most exciting things about starting.
It’s a commitment to your vision. It’s having the courage to put your dream out there. Giving your entrepreneurial hope the nurturing it deserves with a real name and an identity separate from your own. The start of a journey worthwhile.
So how do you choose? Here are some considerations to help you get it right the first time around.
Think of some of the most memorable and iconic business names... Apple, Google, Amazon, Starbucks, Nike, Tesla
They *seem* arbitrary.
They’re all unique, simple and memorable - but without a literal/direct interpretation of the business. They don’t provide direct context for what they do, but have meaning.
The market gets to know you by much more than your name alone - your marketing, imagery, headlines, etc. - together describe your offerings. Your business name can stand-alone, and may be more memorable that way.
Think outside the box! Your business name should be:
Unique
Choosing a unique business name will help you in a few important areas - domain availability, social @ and legal registration.
Before you say yes to a name, check for available URLs (GoDaddy or other), and head to USPTO.gov to search the trademark database. You’ll need official legal guidance to officially clear your name for ® availability, but a self-search is a good start to see what’s out there.
If the name exists, but it’s operating in a different market, you could be clear. Registering your business name is an investment to consider for the long-term.
Simple
While you want your business name to be unique and memorable, you also want it to be simple enough to recall, pronounce and spell.
This is a tricky balance. Think of how people find you. If you’re a service business, many of your first clients will find you by word of mouth. Make it easy for them to search you on Google or socials.
If your name is too complex, it can be hard to recall. If it’s too long, it could turn into an acronym. Acronyms are forgettable, confusing, often misinterpreted, bad for SEO, and hard to build a brand around. Avoid them!
Concise, simple names are more likely to stick.
Future-Proof
Choose a timeless business name that will fit even as your offerings evolve over time.
Avoid a name that’s too specific or niche, and gives space for what’s possible in 5, 10 years. Rebranding visually is one thing, but changing your business name, and all of the legal implications and client communication required with such a substantial change, is another animal.
Trends are another thing to avoid. Steer clear of overly trendy words or phrases. A timeless name will endure changing market conditions.
Above all, the best business names feel good and right. They make you excited to share it with friends and family. They inspire you to start crafting the story of your next chapter.
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