Choosing Your Brand or Business Name
Choosing a business name is a vital part of a business startup that should be taken seriously. The first thing you should do is to familiarise yourself with the guidelines and restrictions that cover the registration of a business name usually set by the Company Registration Office of any country.
Now ask yourself, why is my business name important?
Well it is important because it defines your business in a big way.
It is the name you will sell to people along with your product/service. And it is also the one thing you cannot change easily without pain.
A good business name should be short, memorable, a brand potential, allows for expansion.
Short – A short name is easy to remember, is web friendly, not lengthy to type, and will fit easily on any marketing and promotional materials.
Memorable – A good business name should be memorable. There is a lot of factors that makes a name memorable like if it portrays a place, a service, describe an activity, a product or sounds nice. Yes I said sounds nice – you will be surprised how many names will put you off.
There is a fast food chain that sounds like a magic word and despite the fact they sell good food at great prices, I do not recommend them simply because I can not pronounce their name.
Your name does not have to be musical or poetic. Short, Simple and easy on the tongue will do the trick. Friends, Colleagues, Mentors and good old common sense can help you determine if your chosen name will pass.
Brand Potential – What name can possibly pass as a brand potential.
Here are a few tips:-
a) It must be easy on the eye; people should be able to visualise it
b) It must be easy on the tongue; easy to pronounce and sound nice.
c) Reflects your business or can be referenced to your business.
d) Short – A short name makes it memorable, web & print friendly.
Allows for Expansion – Many people name businesses looking at the present. Well managed businesses not only grow, they expand. It is vital that you do not fall into the trap of boxing yourself into a corner with your business name. A good example is someone that intends to start a shoe business – manufacturing and selling women’s shoes. Such a person might call the business Exciting Women’s Shoes thereby limiting expansion in that name to other target markets instead of choosing a well positioned name like Exciting Footwear that allows for expansion in all target markets relating to shoes.
A domain name is your ‘www’ name and your website name is what you decide to call your site.
An example is www.ef.com as a domain name and “Exciting Footwear” as the corresponding website name. This is not always the rule as both Domain and Website Name can be the same.
The simple advice that I will give is to try and get one of your business keywords into your domain name as it helps a lot more in your SEO efforts i.e. someone dealing in different designer clothes might want to choose ‘www.cooldesignerclothes.com’.
Finally, using the same name as your Business name is even better.