Keys to naming your business

Your business is your baby so it deserves some time and energy when it comes to choosing a name. While it may seem easy at the onset there are a lot of important considerations when choosing a name for a business as it is the first line of communication on who your business is and what it does.  In my experience starting with a big list and winding it down is the best way to explore all possible name choices and set the pace for how you define your business.   Here are the steps I go through when naming a business:

1.Brainstorm with a list of who your business is. This is just words that you use to define your business. It could include things like your name but as you are just beginning so also include words that describe what you want to communicate about your business. If you are a plumber for instance you may have Johnson Plumbing in mind but should also write down words like experienced, professional, timely, or honest if that is important to your targeted client.  I find a great trick is to you the thesaurus to drum up other words that may be more unique or catch to add to your list.

2. Take a look at your competition. Chances are that whatever you want to do there is someone out there also doing it. Taking a look at your competition may give you some inspiration but it also gives you an idea of brands that are already out there as a way to make sure your brand is distinguished from the pack. It will also tell you if your idea is already taken.

3. Get input from those whose opinion you value. Finding a trusted business advisors is important to have a clean space to bounce ideas off of in a positive way. Try to find someone who you both trust and respect their business opinion. It can be a great way to find flaws in names you like that you did not previously consider and work through reworking names you previously discarded.

4. Take a pause and use your imagination. If it was easy everyone would do it. Your business is your baby so even if you start off with a name you want to consider and reconsider it to see if it will stand the test of time when it comes to operating your business.  This is one instance where rushing is a no-no in business as your marketing efforts will stem from your name so reselecting can hit you big in your pocket and your brand image.

5. Do your research. You have to put some energy into if your name is taken both on the World Wide Web and with the secretary of state when you file your name as an entity. The Secretary of State should allow you to search names to see if yours is taken for a minimum cost and even reserve the name if you want to hold it but are not ready to file for your entity. While you may have never heard of a company with the name you are interested in, it does not mean that it does not exist.  You can use any domain resource like GoDaddy to search domains for your name.  This quick search lets you know if the name you want is already taken and to see how much brand confusion would be caused if you used the same name.  Doing the work on the front end prevents you from falling in love with a name you cannot register or does not make sense from a branding perspective.

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