How to choose a good business name?

Thinking of starting your own online business? Or thinking of creating a new project or campaign that will give you a new stream of income? Well… you will need a new business name and a good one too. Many people underestimate the power of a good business name. A good business name is very important to your business and it can play a major factor in the success of your business

Why is a good business name essential to your business?

First of all, a good business name can be used as a branding tool. Take the mailing giant FedEx for example. Their business name is what drives their success. People remember the name and they can even picture the exact FedEx logo in their mind whenever they think of FedEx. People in the USA even have a term for mailing where they will say “I’ll FedEx the envelope to you later” instead of saying “I’ll mail the envelope to you later”. A strong and good name can play a gigantic factor in your business.

So now that you know that a good business name needs to be easy to be remembered and it should make sense to people, we now take a look at how easy it is to pronounce your name. There are many business names out there that are downright confusing and quite frankly the names are so hard to pronounce people will not bother trying to remember it.

Some names just don’t make sense while some will sound ‘funny’ and then becomes a joke around the people. When your name becomes a joke, there might be negative effects that might hurt your business. This is the reason why you must absolutely try your best to get find a good business name that is easy to remember, easy to pronounce, makes sense and exciting. Of course we must try our best to make sure that the business name that we choose does not become a joke but sometimes even when we are careful, it will still get out of hands. When that time comes, it might be better just to change your current product or business name and go for a new one.

What is the correct length of a good business name?

The length of your business name matters. In fact many experts will recommend a short name for easy pronunciation, and also easy on the memory. A long business name may sound good to you but it will be hard for people to remember it unless it is very catchy or if it resembles something that people can easily recognize. If you think of all the big brand names that you see all around us such as Apple, Samsung, Intel, NVidia, Sony, Dodge, Ford, and Coke… you’ll realize that all these names are pretty much one word and they are very short names.

Imagine using a name like Hippopotamus, while it is a one word and people understand what the word means and can easily associate it with the animal, one problem that might arise is the difficulty to spell out the name. And this could be a problem that you might have to live with in the future. Instead you could easily remedy the problem by shortening the name to a simple ‘Hippo’ and it would meet all the requirements. If you are looking for a name for your online product, you could just use it with another word such as ‘Hippo Marketing’ or ‘Hippy Marketing’ to make it easy to remember. Hence a better name would have to be short in length so that it is easy for people to remember, and also it would be easy for people to spell it out correctly.

A good business name should not limit your businesses’ growth.

That is right. Your business name should not limit your businesses’ growth. Now what exactly does that mean? How can a business name limit your growth? Ok let me explain. Take for example; you are using a business name like ‘Pete’s Articles’. Now your business name indicates that you are doing Articles for your clients. But what if you wish to expand your business into backlinking services as well? Would that mean that you will have to create another business name? Which is why sometimes it might be better to use a name such as ‘Freelance By Pete’ or something similar like ‘Petelancing’ to indicate that you handle a lot of ‘different jobs’ in with the use of the word Freelancing.

This kind of names will not limit your growth in the future and potential expansion of your main services or product range. Therefore, always go for a sensible and general name instead of a specific name unless you never plan to expand your business and that you want to establish a strong expertise and focus on your business. For example, if you want people to regard you as the expert SEO practitioner you can use a name like this ‘SEOMasters’ and then go on and prove to the world that you are qualified for that name. A strong business name like that can give you a lot of authority, but mind you, you if you want to expand your business to something else, you might need to find a new name for that new project.

Make sure your business name has not been taken.

When you have finally found the name of your choice, you will want to list out a few variations so that you can choose the best name that you like. The next thing you will have to do is to do a search online to see if the business name of your choice has already been taken or not. You can search on Google or on a domain registrar to see if your name is still available or not. If your name has already been taken, then go back to your list and choose another name. If the business name of your choice is still available, then you can go ahead and finalize your decision and take actions to secure the name. Remember a good business name can become a huge factor to the success of your business.

Originally posted 2013-10-27 22:30:05.

Business Planning

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