Things to Consider When Choosing a Business Name

Choosing a name for your business is a big decision. Your business name will stay with you for many years. The problem for most small business owners is finding a name that is creative, meaningful, not already trademarked, and available as a website domain name. We have three steps that you can follow to develop a business name with lasting value.

Choosing a name for your business is a big decision. Your business name will stay with you for many years. As the heart of your brand, it connects consumers to your business and should evoke positive emotions. The problem for most small business owners is finding a name that is creative, meaningful, not already trademarked, and available as a website domain name. Below are three steps that you can follow to develop a business name with lasting value:

Finding a Business Name With Staying Power

  1. Hold brainstorming sessions.

Your naming process should begin by writing down everything that you can think of based on the following thought-provoking questions:

  • Who are your target customers and what do they want from a business like yours?
  • What can you offer that your competitors don’t?
  • What are the benefits for customers when they choose to do business with you?
  • What words would you use to describe your company?
  • Are there any symbolic connections that you can make to your business?

Be sure to ask friends, family, and employees to join your brainstorming sessions and bring new ideas to the table. Use the ideas from these brainstorming sessions to create a list of potential business names.

  1. Narrow down your choices.

Review the potential business names you created during your brainstorming sessions and narrow down your list to between 5 and 10 choices. Once you have your shortlist, ask yourself the following questions about each potential business name. If you can’t answer “yes” to any of these questions for a specific name, remove it from the list.

  • Is the name easy to pronounce?
  • Is the name easy to spell?
  • Is the name already trademarked? 
  • Is the name one that helps to create positive perceptions in consumers’ minds?
  • Is the name available as a website domain name?
  • Is the name unique and meaningful?
  • Is the name visually significant?
  • Is the name descriptive?
  1. Conduct market research and tweak your name as necessary.

Show your final list of potential business names to as many prospective customers and target audience members as you can. These are the people who will buy your products or services, so you need to go directly to the source and get their feedback. Remember, initial reactions are typically the most honest, so don’t give them the time to overthink the name. Based on the feedback you receive, make any changes to your name that might be necessary.

After completing these three steps, you should be able to finalize your business name or understand that you need to go back to the drawing board and start again. The next step is getting a professional logo design for your company. Try using our DIY logo maker to start creating your own brand!

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