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13 tips to picking the best business name: Find the best name for your business

You are finally working on something of your own. For the longest time you have dreamt of starting your business and now, it is about to come to life. Before you make your steps towards marketing and making sales, what will be your business name?

One of the most important and possibly the most difficult steps in starting a business is choosing a company name. For some people, choosing a company name is the easiest step. This is because they have revolved their business around it or it came fast, and clear to the business owner. For others, it is difficult to name a company that really covers the business and its meaning – but this part can make or break your startup. 

 

1. Pick a name that can grow with your business – not something which gets bound to one meaning. 

Choosing a name that is too narrow can cause problems in the future. Imagine what would have happened if Jack Ma had named Ali Baba as “Buy shoes online” – that wouldn’t have worked out well because of the growth of his multinational business.  So please avoid titles like Pink dresses, Mobile gadgets. Tasty jams and Chicken nuggets. You don't want to limit your business to specific products or locations.

 

2. Don’t go all vocabulary master – keep it easy to spell and pronounce:

Up to a quarter of your business promotion will be done by word of mouth – so go easy when choosing the right name. Pick out a list of names that are easy to spell and pronounce – make sure it resonates with your business. Don't make it complicated.

 

3. A domain name is your next step

It is highly recommended that you have the company's ".com" domain name instead of using alternative names such as .net, .org, .biz, and other possible domain extensions. Customers tend to associate .com domains with a more mature business. Go to GoDaddy and see if you are lucky, there are chances that someone will already have the .com name you want, but many domain owners are willing to sell their name for a reasonable price – so get on and see what you can get.

4. Your business name should have a meaning or feeling to it

Ideally, you want your company name to reflect meaningful and positive information about your business. Can people immediately understand your business? Nonsense names like "Google", "Yahoo", are attractive because they are catchy, but such names cause you to spend more money on branding and these have made their places because of their brand. Your mission, purpose and story – they all have a say in your business name. Think hard, what is that short attractive word that delivers the meaning, and name it.

 

5. Trademark search

Search USPTO.gov to see if you can get a trademark or service mark for your name, this can be all the help you need at this point.

 

6. Is your name legal?

You may want to develop your business as a company or limited liability company, so it’s better if you register to the Secretary or State search to ensure that your name differs and doesn’t cause confusion with another similar naming brand. If the name is too similar to an existing name, the legal parties may not allow you to register.

 

7. Ask yourself if this name will get the crowd

Obviously, you don't want to pick a boring name for your company, but you also don't want to pick a very "vague" name. Have you ever worked somewhere you were too hesitant to say the organization’s name just because it was weird? Same. Make sure when you are naming your business, it is catchy, resonates with your target audience, and doesn’t sound weird.

 

8. Find resources to generate thoughts

There are several sites that can help you on this step like:  VisualThesaurus.com, NameMesh.com, Shopify Business Name Generator, etc.

 

9. Say the name out loud – does it sound good?

Everything looks good when it is written. Make sure you say the name out loud and see how it feels. Ask people around you if they can easily pronounce it upon hearing.

 

10. Discuss the name – ask people for feedback

Suggest 2 or 3 names and ask your friends, family, and trusted colleagues and get some feedback. Also, make sure your name doesn't have a negative side to it. For example, take the Corona beer, and how it gained familiar resemblance to what happened in 2020.

 

11. Give it a few days – think about it

Now that you have gone through feedback, it's time to review and analyze the results. Go through the names and see if any name feels odd – kick it out and never look at it again.  Once you have determined what you want, you can get creative.

 

12. Does the name make you happy personally?

You are the maker of this name, so say the name and ask yourself if this really shows you everything you have dreamt your business to be – if it doesn’t make you happy then follow your heart to make any changes.

 

13. Once everything is set – don’t wait too long

If you have done everything to get the perfect business name – don’t wait. Sometimes our overthinking can get us in trouble even if there isn’t any. As soon as you have received the feedback, made the changes, and you're happy with the outcome – set the name, start your business and watch it grow.

navigate_before Post by Eddie Eastman, CEO Startup Streams

“We are here to kickstart your ecommerce ambitions by providing you with a range of ecommerce stores in the most popular niches whilst providing you with a fully functioning business complete with products to sell saving you time, money and effort in the process.

Our mission is to maintain our excellent 5 star reputation as the go-to provider for new ecommerce stores, designed for new entrepreneurs. We provide excellent service for all Startup Streams entrepreneurs and I look forward to doing so for you today.”

Find out about Startup Streams here.

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