The name of your business will attract or repel future customers in just seconds. Businesses with names that are easier to pronounce earn better profits and create a faster positive first impression.
Here are some rules to follow when picking the name of your business.
1) Keep It Short.
Names that are long or confusing are difficult for people to remember. Keep the name as short and descriptive as possible.
2) Avoid Locations.
Unless your business will be in the same location forever, avoid using a geographic location as part of your business name.
3) Tell a Story.
Your story is what gives your business character. It makes you stand out from the rest of your competitors. Think about your story, then develop a business name around it.
4) Make It Human.
There is a tendency today to create business names that are friendly to search engines. That might help with search engine optimization. It does not usually help your business name become memorable. What works for algorithms does not always work well for the human brain.
5) Think Multilingual.
Did you know that the word “gift” in English can be translated as “poison” in German? If you plan to have an international outreach with your business, it is important to think about how your name will be translated.
6) Avoid Your Name.
Sole proprietors often use their personal name as part of their business branding. It’s a way to save a little money and personalize the brand. It can also make a failure become a permanent part of your legacy, making it difficult to create future business ventures.
7) Stand Out.
If your business name is too similar to the rest of the competition, then future customers will struggle to see why you are different. If you’re too different, it might not be a good thing either. Test it on others to see if you get the right point across.
8) Choose a Name You Like.
Your business name will be tied to your identity. If you’re not passionate about it, then it will be difficult to be passionate about your business. Trust your instincts. If your stomach churns, choose a different name.
Once you’ve chosen your name, make sure it is available. Look for trademarks, URLs, and social media handles to maximize the impact of your business.