Coming up with a business name that is compelling, memorable, not already taken, has an available web address, and makes sense is not an easy task. Though it involves a lot of work, picking a name for your business is critical so it pays to invest the time and effort into making sure you have a name you will be proud to display for years to come.
Start by deciding what you want your name to communicate. It should reinforce:
- What your business does
- What your business sells
- Your differentiating factor
For example you wouldn’t just call your business “Flowers.” You might call it Quick Flowers, or Exotic Flowers, or Flowers-To-Go, etc. So that people will get an instant concept of your business. The more your name instantly communicates to consumers your core message, the more customers can relate and understand. They focus on what the business is about.
Here’s what professional business naming firms advise against when choosing a name:
- Location names like (City) flowers because it doesn’t tell anyone about your business benefit. If you later on expand into other markets it limits you.
- Abstract names that do not mean anything to anyone.
- Numbers that again do not mean anything to anyone.
Experts offer these tips when choosing a business name:
- Choose a name that appeals not only to you but also to the kind of customers you are trying to attract.
- Choose a comforting or familiar name that conjures up pleasant memories so customers respond to your business on an emotional level.
- Don't pick a name that is long or confusing.
- Stay away from cute puns that only you understand.
- Don't use the word “Inc.” after your name unless your company is actually incorporated.
Do your Homework
After you've narrowed the field to four or five you are ready to do a trademark search and also do a domain name search to see if you can get a website that will make sense for your business name. you can go on sites such as Whois.com or GoDaddy.com to see if a web domain name is available.
Not every business name needs to be trademarked, as long as your state government gives you the go-ahead and you aren't infringing on anyone else's trade name. But you should consider hiring a trademark attorney or at least do a trademark search before hand to make sure your new name doesn't infringe on another business's trademark. The extra money you spend now could save you countless hassles and expenses further down the road.
Take Your Time
Keep in mind that professional naming firms devote anywhere from six weeks to six months to the naming process. You probably won't have that much time, but plan to spend at least a few weeks on selecting a name.
Once your decision is made, start building your enthusiasm for the new name immediately. Your name is your first step toward building a strong company identity, one that should last as long as you're in business.