Knowing how to come up with business name ideas can be challenging. It’s not a process that the average person is accustomed to. The pressure can be intense. This is not the type of decision that can be botched. The impact that this decision will have on the company’s success cannot be overstated. The wrong choice can create legal hurdles and other various issues.
The right choice puts a business on the fast track to all of its chosen objectives. The importance cannot be overstated. Thanks to these tips and pointers, businesses can steer clear of the usual issues that have been known to crop up during the selection process.
1. Don’t Be Overly Limiting
The name that is chosen should be as grand as the company’s ambitions. If the business owner is looking to expand as they go, this is their chance to state their ambitions in a clear and concise way. For example, a company that is getting its start in Milwaukee, Wisconsin should not let itself be confined to this geographic region.
Whether the owner is looking to go nationwide or worldwide, this needs to be reflected in the name that is chosen. There is something to be said for removing all of the potential ceilings that could be bumped into along the way ahead of time. Choosing a name that reflects the company’s true level of ambition is a wonderful place to start.
2. Make The Name Easy To Spell (and Say)
Word of mouth is everything in the business world. If the customer is unable to spell the name of the company or even pronounce it, how can anyone be expected to take them seriously? This is not the chance to flex knowledge of big words or try to come up with a fancy new spelling that will only make sense to a small handful of people.
Any name that is going to cause any level of confusion is not a name that needs to be chosen. This is the perfect chance for business owners to place themselves in the shoes of potential customers. Plus, no one wants to spend all of their time correcting people who cannot spell or pronounce their business’ name. It’s a true win/win.
3. Do The Necessary Research
The following scenario unfolds on a shockingly regular basis. A business owner is trying their best to come up with an awesome name. There’s just one problem: they did not take the time to research all of the other companies that happen to be in their niche. This can cause all sorts of unforeseen issues when it comes time to put business plans into action.
No one wants to waste the time and effort associated with this stage of the process, only to find out that their work went to waste. Take the time to research the name that is being considered before making any final decisions. Sometimes, a Google search will save all kinds of heartache.
4. Don’t Be a Follower
The aforementioned Google is a great example in this instance. Yes, it has essentially become a verb now but that does not mean that this is a story that can be replicated. These are the stories that people should not be relying on when it is time to make their own decision.
Unless a business owner is willing to swing for the fences (and accept the consequences), they need to choose a name that works for them, not someone else. A catchy nonsensical name may seem great on paper but what happens when customers become confused? This is something that should be avoided at all costs.
5. Get Some Feedback
There are a number of ways to get some unbiased feedback. It starts by speaking with the closest confidants at the company. These are the people who are going to be brutally honest because they do not want to be associated with a company that has a silly name. Friends and family members are also useful resources.
Anyone who is ready to be 100 percent honest should be given the chance to chime in. The more, the merrier. This gives the business owner a wider cross-section of voices to rely upon. Make sure that there are no negative connotations to speak of before proceeding. The name should also sound pleasant when it is said aloud.
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