7 Essential Tips When Choosing a Business Name
Just when you thought coming up with a business idea was hard… wait until you have to decide on a name! But what you will notice is that in all honesty, it doesn’t matter what you end up naming your business, as the most important aspect is going to be how you build your brand and reputation overtime.
For example, look at the largest companies in the world and their company names:
Like. Once you really say it aloud and think it through, it sounds a bit strange to begin with! Yet, it is so normalised in our current society. Check out the meaning behind the above brand names by clicking the link on their name.
Another fascinating one is Post Malone, as “Post” is his last name, he used a “rap name generator” to get “Malone” – who would of thought through a rap generator is where the famous Post Malone put his name together.
So! This leads me now to sharing some tips on how to choose a business name:
1) Don't make it over complicated
Imagine having a name no one can pronounce, or even worse ... remember! You will want a name that is easy to pronounce, quick to type and a name that stands out from the crowd.
2) Make it easy to spell
Because when someone stumbles across your page and decides to purchase from you at a later date, a problem that may arise is if you have a complicated name, they aren't going to remember who they are buying from! This is a PROBLEMO, that being, a big loss of salesssss!
For example, businesses that have silent letters can be a problem (or should I say, PROBLEMO), for example, Flikr – the photo sharing site, the ‘e’ was dropped out of the word. However, if people If people were trying to find Flikr.com and didn’t know about the brand they would most likely type in fliker.com. So avoid names where you will have to be continuously correcting the misspelled version of the name.
3) Choose a name that won't place too many limitations for when you grow
You never know what the future holds! Your brand may develop and grow overtime that may lead you to opening new doors and ventures. That’s why I recommend avoiding niche names, for example: Elevar Handbags. Because who’s to say we aren’t looking at expanding our range… ;)
And if I were to choose this as our original name, it would be a bit difficult introducing other products that did not include handbags, and how else would the customer know you sell anything other than handbags by just looking at the name? Another tip I can give is to not include location in your brand name – as you may never know where your brand ends up! Don’t let your business name be tied to a physical place unless there’s a specific reason for it.
4) Ensure no one else has your name
Otherwise you could be sued! I remember working with a girl and she started her own swimwear label at just 17! (She’s honestly an inspiration of mine) and I remember she was in a legal dispute as someone overseas with the same name was trying to sue her…and mind you, she wasn’t wanting to compromise at all!
To save yourself from this happening to you, and if you are in Australia you will want to ensure that you do a check to see that no one has registered your proposed business name as their own trading name, as you can run into a lot of legal disputes down the track.
To check trading names in Australia, follow this link: https://businessname.com.au/
However, if you are outside of Australia, I recommend you check our local country for a similar registered business or trading name search.
5) Make sure you can get the domain and social channels for your name
This is critical! You want to ensure that your domain and socials match, and if not? Well say hello to step 1) Choosing a name. Otherwise users will become confused as to what your brand’s name actually is, and most likely confused as to which social handle belongs to your business.
Here is a simple checklist of all the social handles I suggest you check and make sure you can get your name across all the platforms:
- Go Daddy – this is where you can check if your domain is available
- Facebook – check business page names
- Pinterest – is the name short enough to fit in their character requirements?
6) Double check everything!
Don’t just settle on the first name you have come up with, remember, this is going to be the name of your business that you may have for years to come, so ensure that you are 100% happy with your decision before purchasing any domains etc. Another tip is get some feedback on your chosen name by family and friends, because several opinions is better than just one!
7) Business name generators
If you still find youself stuck settling on a business name, maybe you can go Post Malone style and use a name generator (note that this is a business generator, not a rap generator ;) ).
They sites can be fun to have a play around with – but don’t get bogged down and waste too much time on this step. I want you to keep moving forward with the creation of your business!
I hope you have found some of these tips helpful for the naming of your new business. Stay tuned for our next blog to reveal how Elevar Style came to life.