Factors to Consider When Choosing a Business Name
What’s in a name? Quite a lot actually, especially if it’s for your business.
Choosing a business name can be a difficult decision. Both for symbolic reasons (does this represent who we are and build trust or authenticity?) and for pragmatic reasons (can our audience find us and do they know what we do?).
In this article, we look at how to maneuver the important factors when choosing a name for your business. Helping you to make the right naming decision that will last your business for years to come.
1. Finding a domain name
The most important decision is finding a business name that ties in your online and offline presence. You can pick the greatest name in the world but if you can’t find a matching domain for it, you aren’t going to see much traction. Despite the growth of non-traditional domains ending in ‘.cloud’, ‘.UK’ and even ‘.doctor’, the traditional ‘.com’ is still the most recognised domain extension in the world. As soon as you start to generate business names ideas, use our tool to help you check if there are domains available that match your wording. The great thing is, you enter the words and it’ll show you a mix of domains available. So even if the traditional version you first thought of is taken, you could still find a variation that works. Once you have a business name that works offline and for your online presence, you’re 90% of the way there.
2. Improving brand awareness
If you’re just starting out, getting your brand recognised may be your number one challenge. This will be even more difficult if there are already others hanging out under the same covering. If you’ve already found your domain name with a business name to match, this can be a good sign. However it’s always worth doing a quick Google search on those terms and to check sources such as Companies House for businesses that are too closely matched.
3. Ensuring longevity
How many of your teenage email addresses do you still use today? As we grow, we evolve and change how we present ourselves. The same is true for your business. If your business has long-term aims to grow and expand make sure you pick a name that can do the same. This means removing any dates or popular culture references that won’t be relevant in five, or fifty years time. Also thinking about what future skills and areas of expertise your name could cover – you never know where you might end up!
4. Creating variations
Did you know you can have both a trading and a corporate name? This means that the corporate name you register your company under (e.g. one that ends in ‘limited’) doesn’t have to be the same name that you use to head up your marketing. Most companies use a trading name so that they don’t have to use a longer, more formal corporate name to trade under but it can also help you generate a more creative name and one that you can find a domain for too.
5. Visually effective
Studies show that we remember what we see much more than what we read. One mistake many make is to not think about what their business name and logo might actually look like. For example, a long business name might be difficult to turn into a logo. A name that’s too short, or an acronym, might not create a memorable visual representation. If you can think of a business name and picture it as an incredible logo (or ‘up in lights’ as they say) you could be onto a winner.
Deciding on the right business name is a key factor in the startup of your business but it shouldn’t hold you back. Use our tool to help see what business names you can generate with an appropriate domain to match and you’ll quickly be on your way to the important part – turning your business into a success.