HOW TO PICK A BUSINESS NAME
You’ve decided to start a business. You have a great concept that is sure to be a hit with customers, but what do you call it?
Choosing a business name is one of the most important parts of starting a business. Without a name, no one will know who you are or what you’re offering. There are some things to consider when selecting the name for your business. Are you looking at a business that will serve locally and maybe surrounding counties? Are you seeking to eventually take the business national or even global? These are serious questions to consider.
A local business doesn’t need to worry about sharing the same name as other businesses across the country or around the globe; whereas a national or global business needs to stand out among thousands. Across the U.S. there are over 200 hair stylists businesses called “Curl Up & Dye”, but there is only one Google across the globe. Choosing the right business name establishes the intentions of the company.
A business needs to select a name that will grow with it. For example, a young man who starts a business named Henry & Sons but goes on to raise only daughters would be a little shortsighted in naming his business. Furthermore, a company named Gadgets International that thrives but never manages to expand beyond the edges of town has set itself up for disappointment.
Wisely picking a business name involves creativity and thought. Single word names are easy to brand and easy to remember. Business names where the initials result in catchy word are a way to achieve indelible branding. For this reason, you should always keep in mind where you want your business to go when branding. It’s okay to think small if all you want is a nice, little family business, just as it is fine to think large if you want take on the world. Whichever name you choose, be happy with it and make it your own.