Before you start a new business, one of the most basic things is finding an appropriate name for it. Having a perfect company name may be the difference between success, failure or just being mediocre.
A good company name may bring you oodles of business, while a mediocre one may not attract prospective customers.
There are no rules to naming a business; but in this competitive world, the name needs to be suggestive of your business, your name and the location of the business.
It could be a combination of all the above; either way, it needs to be both creative and inspiring.
Some Tips To Help You Name Your Business:
Type of Business
One of the best options is to select a name which best describes your type of business. If the name suggests your specific area of expertise, it can be meaningful to a prospective customer.
The General Electric Company, now GE, is a fine example of such a name.
Using Your Own Name
A commonly used trick is to use your name as the name of the company. If you feel that you need to give that personal touch to the business, this is a good way to do it.
This is generally the case with sole proprietorships, and is often used by
small businesses.
Location of Your Business
There are times when the location of your business is a useful aide for naming your business.
Generally, if your potential customers are from around your business’ location, it is a great idea to name your business after the area. However, the only problem in this case would arise if you ever moved out of that location.
Would it be suitable then? If you have been able to develop your business as a brand name with a wide reach, then the location name will not make any difference wherever you go.
Combination Naming
If you stretch your creativity, you can come up with a unique name by combining your business type, location of the business and your name.
For example, if you are conducting tours to a specific country such as Italy, you may have a name like ‘Italiatours’, which sounds different and exciting as well as meaningful to the type of business you have.
Your Business’ Specialty
If you are in a business that specializes in handcrafted woodcarvings for example, you can give your business a name that includes your name as well. For example, if your name is Bart, then “Bart’s Handcrafted Woodcarvings” may be a good option.
This name would be enough to explain about the great quality of the woodcarvings you offer.
You should check for names of other company names in similar businesses and find out the type of name they have used, before you decide on one for yourself.
Another good idea is to check out domain names. If there is an identical domain name available, you may be able to create niche identity for yourself.
Go ahead. Brainstorm, and use the tips above to get yourself a business name that is unique, creative – and just you!
