When starting your own business, there is just so much to consider including financing, staffing, equipment, and a marketing plan; the list just goes on and on. But, did you know that what you actually name your business also plays a vital role in its success? It’s hard to believe a name can have so much power, yet it does. With that in mind, here are some tips you can use that will help you find the very best and most effective name for your new business.
It Should Explain What Your Company Is About
A good name is one that effectively sums up what the company or business is all about. Customers and clients should be able to look at the name and instantly recognize the space/industry you are in. What this means is that choosing some random word or a few words is not the best plan. Granted, it has worked for some, such as Apple, but those success stories are few and far between.
By picking a name that sums up what your business is about, you will actually be making your life a lot easier when it comes to your marketing plan. Let's take, for example, a photography start-up. Ideally, you want to include the word "photography" in the name along with some catchy words. As the VirtualPhotographystudio.com website explains, this makes it clear what services you offer, plus those catchy words help to make it memorable.
Make it Unique
Another useful tip is to pick a name that is unique, something that really sticks with people so they won't soon forget it. Now at the same time, you don't want to go overboard and pick something that is too out-there. It's also recommended that you skip the unusual spelling of words and names in order to stand out. This just creates confusion with potential clients and makes it harder to find you in a Google search.
Pick Something that Is Easy to Pronounce
It's also a good idea to pick a name that is easy to pronounce. You don't want your customers struggling with your company name. The more difficult it is to say, the less likely it is that customers will remember your name. Instead, opt for words that are simple, to the point, and short.
Use Online Naming Tools
If you find yourself stumped, you can always make use of online naming tools. These online resources allow you to type in various keywords and ideas related to your business. It will generate a list of possible names. This can at least help your brainstorming session.
Make Sure the Name You Want is Not In Use
Lastly, you want to be sure that the name you pick isn’t already in use. Again, this helps to avoid confusion with customers and clients.
The Name Matters
At the end of the day, it’s important to put time and effort into naming your new company, and by using these tips you’re sure to come up with the best one.