9 Steps to Craft a Perfect Business Name

HamaraTimes.com | 9 Steps to Craft a Perfect Business Name

[ad_1]

Customer perception is a major part of any success, and getting your business name right is the first step to building a solid brand to attract customers and increase revenues.

Entrepreneur’s New YearтАЩs Guide

Let the business resources in our guide inspire you and help you achieve your goals in 2021.


6 min read

Opinions expressed by Entrepreneur contributors are their own.


Most donтАЩt think twice about their , but it literally has the power to make or break your business. This is more true today than ever before now that there are countless alternatives to every product or service imaginable. Sure, every business may have its own world-changing differentiator but from the outside, they all look the same. The main differentiator ends up becoming your brand name. ItтАЩs more important now than ever to stand out from the crowd.

In a world full of distractions, customers no longer have the attention span to thoroughly research what they buy so they primarily rely on their feelings and emotions. This is why large businesses like and spend billions on just┬аtheir brand┬аalone. They understand customer perception is everything in business today.

Related: 8 Mistakes to Avoid When Naming Your Business

So letтАЩs explore how you can craft the perfect business name for your next big .

1. Start brainstorming

Write down a list of words that are related to the product or service you want to offer to the world. Think about words that are associated with what your business does, with what your mission is, with what your values are, and with what problem youтАЩre looking to solve with your new business. You can even add your first or last name to the list if itтАЩs short and catchy. Then mix and match those words until you find combinations of names you like.

2. Research competitors

Look up competitor business names for inspiration. You donтАЩt need to reinvent the wheel when it has already been reinvented countless times. Your competitors also had to go through this same naming process when they first started their companies so why not take advantage of their work? After all, your goal as a new business owner is to out-compete them.

3. Examine the meaning

Some words can have different meanings or negative connotations in different languages. So itтАЩs always a good idea to do a quick search for alternate meanings. If you discover that a name on your list may form a negative impression of your company,┬аscratch it off. You donтАЩt want that name to hinder your future potential.

Related: 4 Clues to Help You Choose an Effective Business Name

4. Zoom out a little

It can be tempting to go with a super relevant name that describes exactly what your company plans to offer when you first open your doors. But donтАЩt forget to think about how you want your business to grow and expand in the future. Remember, Amazon was just selling books at first but then expanded into selling everything else. Imagine if they had named their business “SuperBooks” initially. Think about the big picture before you get too excited about a name on your list because itтАЩll pay off in the long run.

5. Keep it simple

Many companies use alternate spellings nowadays. Feel free to do so if it feels right for your brand but try to keep the name short and simple. If your name canтАЩt be easily spelled or pronounced, customers will struggle to find you. Practice saying the name out loud. Remember, your potential customers will talk about your company to others during casual conversations just like how you talk about companies like and with your family and friends. So avoid hard-to-pronounce names like those with more than four syllables or those that have silent letters in them.

6. Ask for feedback

DonтАЩt keep the name you like a secret. Share your ideas with other people and see what they think. Entrepreneurs are naturally biased toward their own ideas. ItтАЩs always good to hear other peopleтАЩs thoughts especially if those people are your future customers. And if you can do this in person with them, thatтАЩs even better. You may find that a name you like is perceived negatively by others or has a hidden meaning that you didnтАЩt notice before.

7. Take a breather

New things are exciting and itтАЩs tempting to rush into making a decision, especially when you have so many things to do for your new business before you can get up and running. But donтАЩt act on that impulse just yet. Give yourself a few days to mull over the name you like. Once you pick a name for your business, itтАЩs hard to change it. Not impossible, but much more difficult than starting with the right one from the beginning.

8. Grab the domain name

In todayтАЩs high-tech world where every business needs a website and email address, owning a domain name that matches your company name is crucial. So before you commit to a name, make sure to grab the corresponding domain name especially one with a .com extension as theyтАЩre the gold standard and will automatically build trust with your customers. Use a domain registrar like GoDaddy to register a domain that matches your company name. If you canтАЩt find a domain thatтАЩs available or simply need inspiration for more names, check out a business name marketplace like Alter.

Related: Everything I Know About Naming I Learned From ‘The Simpsons’

9. Search for trademarks

Before you set your heart on a name, check to see if you can legally use it. Make sure there isnтАЩt another business in your industry thatтАЩs already operating under that name. Simply head over to USPTO or your countryтАЩs equivalent and search for the exact name you like. If you canтАЩt find any existing trademarks for that name then youтАЩre good to go! Otherwise, you will have to consult a attorney to see if your name infringes on another trademark.

These nine steps will help you craft the perfect business name for your next company. The name you pick will dramatically impact your companyтАЩs future efforts so choose carefully. No matter what name you end up choosing, remember to enjoy the journey!
┬а

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here