Even the most promising idea for a business will suffer from a confusing, misleading or unappealing name. Your business name can mean the difference between customers walking through your door or patronizing your online store… and people scratching their heads before moving on to your competition. A company’s name is its calling card and the gateway to its entire brand identity.
No pressure, right?
Don’t worry; the process of choosing a business name doesn’t have to be scary. In fact, it can be a fun and satisfying process that ultimately helps you define more deeply what your company holds most dear.
Here is some practical advice for finding the best name for your business, no matter your industry or product niche.
Prioritize a Clear, Concise Business Name
Above all, people need to be able to read, pronounce and type your company’s name. The urge to be clever here may be strong, but clarity and conciseness should always win out.
Consider in advance whether using a creative alternative spelling of an existing word will result in always having to spell your company name out for people because it differs from how they interpret it when hearing it spoken.
As one expert notes for Forbes, overly “creative” spellings of business names can also cause companies to lose out on revenue if potential customers have a difficult time finding their business due to confusion over the name.
Before going live with your chosen business name, practice saying it out loud to people. Ask them to write the way they believe it would be spelled based on how it sounds. Keep searching for a clearer name If you encounter confusion here.
Always Check Trademarks and Web Addresses
The best name for a business will be easy for customers to read and write, yes, but it will also be available to use based on trademarks and available to claim based on web domain name. After all, it’s going to be pretty difficult to build your business empire if you’re already too late to claim the “.com” web address or wind up getting sued for infringing up on another company’s trademark.
Type in potential business names on search engines, too, to ensure customers will not have to clear hurdles to find your website or product lineup. If there are too many similarly named organizations out there, even if they are not located directly in your geographic area, customers will inevitably have a difficult time finding your company in the crowd.
Avoid Narrow Names That Limit Growth
Take into account what your business currently offers and how you envision its growth before naming it. Naming your company based on its current lineup may limit you in the future if you expand to include other offerings.
Say you’re launching a local business that will initially offer cookie delivery in your area. It’s tempting to choose a name that conveys your product specialty to customers — something along the lines of “Cookie Couriers” or “Cookies on Call” — but what happens if you want to expand your product line to include brownies, cupcakes or candy next year?
Your business name would only tell part of the story, likely causing potential customers to assume your company only has cookies to offer, rather than a whole lineup of sweet treats. This is why it pays to think ahead and choose a name that will grow and scale with your enterprise.
Finding the best possible name for your business really means prioritizing clarity, availability and scalability during the brainstorming phase. You want your name to be easy to pronounce/spell, easy to find and easy to grow as the nature of your company grows and changes.
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