Choosing a business name is like rolling a dice. If you do it perfectly, you will go home with a smile – you win. If you follow the wrong procedure, regrets will be your portion – you lose. In this essence, you must be conscious in the name selection process. A slight mistake can cost your entire business. On the same note, following the right procedure can be the blessing you awaited for ages.
Remember, you will never have an opportunity for a first impression. So, choosing the right name for your business holds the key to its success or failure. In helping you make the right decisions in this process, here are 3 factors to consider:
Domain name availability
While you may be seeking a name for an offline business, a website is a necessity in the current market. For you to become competitive, you must invest and concentrate on online marketing. In this regard, you will need a website for the cause of your business journey. Hence, when choosing a name for your business, it is crucial to ensure the availability of its domain name. You should not go for a name whose domain is already in possession of another person.
Otherwise, you will have to change your business name in future or purchase the domain from the current owner. Either way, you will incur some costs. Thus, it is essential to consider this factor before progressing with choosing a name for your venture.
Uniqueness is a vital concept in enhancing your business identity. As you know, customers will always associate with brands and businesses with unique names. Take, for example, people always feel great by owning an iPad or iPod not necessarily because of the specs it has but due to the uniqueness of the brand name. So, if you want your prospects to fall in love with your brands, ensure your business name is unique. Importantly, go for a name that makes a customer to develop a sense of pride when mentioning it.
Avoid confusing words
Nothing annoys a customer like trying to guess the name of your business. Particularly, when running an online shop, it is advisable to consider easy to spell words as part of your business name. Creating a name for your business is not a vocabulary competition. So, you should not take a dictionary and find the newest word and attach it to your business. If you want to succeed, always use simple and easy to spell names.