10 Best Rules for Picking a Company Name – The name you choose or don’t choose, says a lot about your business acumen and awareness of the world you’re going to join, right or wrong. These are some crucial elements I look for in a name:
1. Distinctive and memorable.
This is referred to as “stickiness” in the industry. However, the topic of stickiness turns out to be quite sticky. Every business needs a name that sticks out, a catchy moniker that will stay fresh and remembered over time. That’s an issue because naming fads shift frequently, making timeless names difficult to come across (remember the dot.coms).
2. Stay away from uncommon spellings.
When choosing a name, choose words that are simple to spell for clients. To make their firm stand out, some startup owners use uncommon word spellings, but this might cause problems when clients try to discover you on Google or refer you to others. Avoid those catchy terms you love to explain at cocktail gatherings by sticking to traditional word spelling.
3. It’s simple to say and remember.
Forget about made-up words and phrases. Make sure your company name is easy to say and remember for your customers. Ignore the acronyms, which most people have no idea what they signify. Simple and uncomplicated are back in trend when it comes to choosing an identity for a company or a product, and they are less expensive to brand.
4. Maintain a straightforward approach.
It’s preferable if the length is kept to a minimum. It should be no more than two syllables long. Use hyphens and other special characters sparingly. Choose a name that is closer to A than Z because certain algorithms and directory listings work alphabetically. It also helps these days if the name can be easily transformed into a verb, such as Google me.
5. Be reasonable.
Business owners will occasionally choose names that are made up of terms. Inventive words (Yahoo, Google, Fogdog) or trademark-proof names (Novartis, Aventis, Lycos) pose a significant danger. Always consider the ramifications on a global scale. A new name that had unpleasant and even indecent overtones in another language has embarrassed more than one corporation.
6. Provide a hint.
Try to choose a name for your company that conveys some information about what you do. While naming your landscaping company “Lawn and Order” is appropriate, the same name would not be good for a handyman company. To remind customers of the services you provide, your business name should be similar to your business.
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7. Double-check that the name is available.
This may seem self-evident, yet making a mistake here will cost you dearly. Check out your desired names with your State Incorporation site, Network Solutions for the domain name, and the United States Patent Office for trademarks.
8. Use common suffixes whenever possible.
Everyone will think that your firm name is your domain name without the ending “.com” or the country’s standard suffix. If these suffixes aren’t available for the name you want, instead of settling for an other suffix like “.net” or “.info,” choose a new name. If you can, get all three suffixes.
9. Don’t put yourself in a box.
Avoid choosing a name that restricts your company’s ability to grow or expand its product line. This means that you should avoid adding geographic areas or product categories to your company name. Customers will be perplexed if you grow your business to other places or add to your product range with these specifics.
10. Take a look at some possible customers.
Make a couple different name suggestions and test them on possible consumers, investors, and coworkers. Avoid family and acquaintances who have too much information. Inquire about the names to determine if they give off the desired impression.
If you’re still not sure, there are a number of dedicated firms, such as Igor and A Hundred Monkeys, who can relieve you of $1 million of your hard-earned cash in order to come up with the perfect moniker.
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