It is always good to come up with several business names ideas to choose from and list them before deciding on the name of your business. You will have to make several considerations before deciding on a particular name.
Some of the principles to guide you in choosing a name for your business are:-
People should strategically distinguish your business name from your competitors by conveying its unique positioning
The name should appeal to the target audience
The name should imply the brand's benefit
The name should be available for legal protection.
The name should give a bond with customers to create loyalty.
The following are some of the considerations you will make on your business names ideas to guide you choose a specific name that perfectly suits your business.
Ease of branding. It's always good to come up with a name that's easy to brand/trademark. Generic names like Jane's restaurant are not memorable hence impossible to brand.
Personal names. It may be very easy to name the business after you. You have to be cautious when using your name because even though people argue that it adds credibility to your business, it takes long for it to become a brand name as people do not immediately relate your name with what your business offers. Some of the successful brands named after persons are McDonalds and Forbes.
A combination of descriptive terms and personal names is also very considerable. It increases the credibility of your products as well as people immediately relating your name and the product. Examples of combined business names are Hilton hotels and Ford motor company.
Future growth of your business. If you envision your business growing beyond your current geographical area or even your country, it is advisable not give your business a geographical name.
Never use very long names are hard to pronounce and even remember. Where possible, always use a short name that's easy to pronounce and remember. Names like Google, Yahoo, Facebook etc are not by default but by design.
Names that describe a product are not only hard to brand but have many legal issues. A name like Construction Company limited is not only hard to brand but also its hard to stop a competitor from using the same name as he will only add or reduce the words to something like construction co limited.
Always come up with business names ideas that will not restrict future addition of new products in your business. A name like Tom's sugar shop may mean that you can't sell salt in your shop.
Use a name that will strike a feeling with people making them curious of or relate it with what you do. Example, a person who has never heard a name like face book will be curious to know what it is all about. Once that person gets to know what facebook is about, he will always relate the name with what facebook does.
Never shy away from using a combination of names to come up with a name even if the name has no meaning at all. Such names are very easy to brand. Research on how several business names ideas were mixed and matched to bring about the name Twitter.
Test the name on yourself. How does it make you feel? Does the name invoke a feeling that you intend customers to feel, if not, drop it. If you don't like the name, it's hard to promote it.
Ask a third party for opinion on the names you have listed and even request them to add more business names ideas to your list for consideration.
Uniqueness. Always consider a name that's unique so that every time that name is mentioned, people will not think about your competitor. This also reduces the chances of that name being already registered or trademarked.
consider using arbitrary names for your business. These are names that do not describe a product or literally suggest a product meaning, and also not adapted from features or benefits of the product. These are names like apple and Amazon. A business with an arbitrary name can always change their product line with ease.
Using acronyms. Some acronyms can be easily branded and are worth consideration. Examples of companies using acronyms are Adidas, BMW and DHL.
Consider using suggestive names. These are names that suggest or hint what a business does. They are allusive and are often formed by metaphors, allusions or simile for example Mr. clean
If you intend your business to go online in future, chose a name that is easy to use as a domain name.
Check with your state secretary to make sure your name is not already taken if you intend to incorporate your business.
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