Alex Lopez on November 30, 2016
Top Considerations When Naming Your Business
The name of your business impacts how consumers perceive you, your brand identity and how memorable you are. Some business owners find it hard to find just the right name. By following the right formula, naming your business can be fairly straightforward and position you for long-term success.
Keep it Simple
What’s one thing that wildly successful companies like Google, Apple, and Amazon have in common? They all have extremely simple names. They’re short, to the point and easy to remember. It’s recommended that you strive for simplicity with your business’s name as well.
It should be easy to spell and not make people think too much. You definitely want to be creative, but you don’t want to get overly cute or clever to the point that only an insider would understand it.
Incorporate Information About Your Business
In order to prime your business for success, it’s helpful to weave in a word or two that gives consumers a basic idea of what type of product/service you offer. Here are some examples of companies who have done this seamlessly:
- Dollar Shave Club
- Oil Well Lube Center
- Burger King
Throw in an Action Word
Remember that you want to highlight what your business brings to the table and what differentiates you from competitors. One of the best ways to accomplish this is incorporate an action word. Here are some examples:
An action word will focus on the strengths of your business.
The Legality of Choosing a Name
Once you have a potential name in mind, you must make sure that the name you choose isn’t already being used by another company and doesn’t infringe an any trademarks or intellectual property. Otherwise, you can potentially find yourself in a legal battle that can quickly deplete your financial resources.
One of the best ways to keep your business in the clear is to use the Trademark Electronic Search System (TESS) from the United States Patent and Trademark Office. It allows you to perform a free search to see if a name is currently in use.
Do a Domain Check
Finally, it’s recommended that you check to see if there is a website domain that’s using your prospective business name. Ideally, there won’t be a website with an exact match domain name because this would mean that you would have to alter it. If your website URL differs from you business name, this can be confusing to customers and is generally going to make things more difficult.
Although there’s quite a bit that goes into naming your business, following the right steps should streamline the process. This approach allows you to generate a suitable and compelling name while avoiding any hassle or legal trouble.