The name for your business can be one of the most important decisions you make. Your name is not only an important marketing tool, but often sets the tone for your whole business image.
To find the right name your business:
- Check for state regulations on naming a business. Many states require specific wording for corporations and LLCs. Additionally, many words are limited in use or prohibited in business names.
- Make a list of names of similar businesses who might be your competitors.
- Decide how you would like to differentiate yourself from those other businesses.
- Consider how you want your business to be viewed by its clientele.
- Make a list of possible names that seem to convey this image, yet differentiates itself from your competitors.
- Test the names on friends, family, possible clients, asking not only whether they like the name, but what the name conveys to them.
- Iterate through the process of picking names and market testing them a number of times with a variety of audiences.
- Research the meaning of your name finalists in other languages and cultures.
- Register the name.
Tips:
- Research shows that names that tell something about the product are more successful than those that are vague.
- Business names can be trademarked.
- Your business name should be broad enough to fit with changes in the organization, products, and strategy.
