How to Name Your New Business

When you come up with the idea for a business, it could seem like the greatest idea in the world on paper. But there is so much more to it than that. Not only that, you need to come up with arguably the most important part of a business: the name.

A good business name can stick in the minds of prospective customers for a long time and have them thinking solely of your company when it comes to their needs in that specific market. Having the right name can give you a leg up on the competition simply by helping you to remain in their conscience.

But picking a name is far more difficult than you may have originally thought. Here’s a little bit of help.

Know Your Business

You can’t possibly give your business a name if you don’t know what your business is, right? Knowing all there is to know about your business is the key to creating a truly memorable name. Knowing what your business stands for, what it is you are selling or providing, who your target audience is, etc. is imperative to knowing the direction that your company will move in and how you will name your company.

Thinking of a catchy name is great but if it doesn’t represent the overall heart and soul of your company, the crux of what it will offer, then it is as bad as having a long or unmemorable name.

Choose Your Style

Creating a unique name can come about in a number of different ways. It can be a catchy single word. You can change, add, or remove various letters from the keywords. You can combine two or more words or use a metaphor. Acronyms are great as well.

Figuring out what style you want is just as important to finding your business name as anything else. And if anything, it will make it easier for you to decide what it is that you want to name your company.

Register Your Name

Once you’ve figured out what you want to name your company, trademark and register it. This will give you the rights to your business name and will keep anyone else from taking it out from underneath you. Your name is your brand and you need to protect it at all costs. Registration for trademarks will cost a little up front but will save you a bundle in the long run.

Infographic created by Clover Network – A Restaurant POS Systems Company

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