Choosing the right business name for your startup is one of the most important steps because it is the identity with which you will attract the attention of potential customers and build a relationship. The business name helps to project your brand, make the target audience understand what the business is about, and differentiates it from the competition. A business name is for keeps and has to serve you well for the life of the business. Thinking of a perfect business name can be difficult; however, you can take the help of the following tips to make it easier and more effective:
Decide the Type of Name Wanted
Businesses need to choose a name that communicates well what they do. For example, it is easy for everyone to know what Trip Advisor does. However, thinking of names people can identify, understand, and relate to can be difficult. You will usually discover that whatever you have thought of has been taken by someone else. Another effective strategy is choosing a name representing your company values or an idea appealing to the target audience. You can also use a business name creator to generate ideas you can use as inspiration.
Define the Brand’s Core Values and Personality
Business names are more valuable when the target audience understands what the name means and represents. You need to understand clearly what your business does, why it exists, and how it addresses customer pain points to devise a meaningful and high-impact business name. Once you write it all down, you will be positioned better to understand the personality of your business. Unless you have a clear vision of what your business means to customers, you will not be able to think of a business name constructively.
Brainstorm To Come Up With Options
You should never try to finalize a name for your business without consulting others because you will miss out on their perspectives and suffer if you make mistakes. Include your cofounders or your employees looking after diverse responsibilities in brainstorming sessions to come up with ideas, which you can then work on to come up with something outstanding. Check if the shortlisted names represent your business well and provide an emotional connection with the target audience. Reiterate the process as many times as you need to generate a list of names that you can crosscheck to find out if they are already in use by others and if domain names are available. Check the United States Patent and Trademark Office website for trademark registration and run a Google search to find out if there are other companies with the same or similar names. According to Forbes, sometimes, it is best to go by your instinct.
You should never rush to finalize the business name because it is something you need to stick with for life. Changing a business name because someone has already registered it or because it does not allow flexibility is expensive and can confuse customers. You can consult other people like customers, suppliers, and even family members to see if the business name resonates with them.
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