What’s in a Name?
Picking the right name for your business is perhaps the most important part of establishing and running a business because it establishes your identity to your customers and your competitors. A minor mistake in selecting can lead you to you a lawsuit and a small adjustment might just earn you some extra hundred thousands of dollars.
We will walk you through some of the Do’s and Don’ts of selecting the right business name for your company and services.
1. Brainstorming Session
The best way to start just about anything that involves creativity is perhaps a few minutes of brainstorming. You can do this with your team or you can do it alone, but the idea is to unhesitatingly list down all the words you want to incorporate in the title or any ideas that you may currently have.
Remember that at this stage, you are not concerned with selecting the name, but only enlisting all the possibilities that you have. You do not have to pass them through any legal or marketing filters just yet. It would be helpful to keep the following things in mind when brainstorming
- Open an empty draft document online or get a pen and paper, and start to jot everything down no matter how bad or good it sounds. In the brainstorming session, there are no judgments or filters.
- Use online tools like Semrush or Moz in order to help you out with selecting SEO-based keywords that you would later incorporate into the title.
2. Selecting the Title
Now that you have all the words that you can possibly use for your business title in front of you, now you can start the process of narrowing them down. You can use a small sentence, or a combination of buzzwords with a short and catchy phrase to go along with it.
Whatsoever is the case, just make sure to keep the following things in mind when selecting the title of your business:
- Keep it short and simple; a mouthful and difficult-to-pronounce name is never a good option
- Try to avoid clichés and overused terms. You want to be able to stand out from the crowd, as opposed to blending in and selecting a unique name is a good way to start.
- Use a communicative and socially immersive approach that will make your customers feel more connected to you; in the long run, that is good for business.
- Run whatever you have selected through Trademark Tools like TESS in order to avoid registration issues that may come up later on.
- Avoid strange spellings, like turning an ‘f’ into a ‘ph’ or using an ‘x’ where ‘z’ would do.
- Make sure to select a name that is not vague, rather matches exactly what your services are about.
- Stay open to critique and change; this is the stage where changes can very easily be made as opposed to after you have registered the name of the company.
3. Finalizing the Name
After you have selected the name that you think would be the best for business, one that represents it fully and is immersive and clears all the trademark issues, now is the time to register it. Registering is the final step that allows recognition by the state which legalizes and legitimizes your business. It also helps you establish a trademark symbol that no other company will be able to legally own.
The entire process of selecting the right business is a mix of creative and technical but it is a significant step in owning a business because it helps establish your identity and make your own space in the big world of business.