7 useful tips on how to name your Start-Up business

Oct 5, 2020 | 0 comments

Naming a business could be considered a lifetime decision, after all the life of a business as long or as short as it may be, it will have a tremendous impact on how your clients view you.

Just as important as choosing a name for your start-up business is choosing your logo and your brand as a whole. All of them go hand to hand and could determine the path that your business takes. So you can appreciate how important it is to take time to make these decisions and not rush to the first idea that comes to mind. Allegedly not all businesses are made equal… some will require further, deeper inquiry before being released to the public.

But let’s focus on a start-up business, where all you have is you and… you! Being a “solopreneur” doesn’t necessarily mean that you’ll have to make all the decisions on your own, you can always enlist the help of friends, colleagues and family members to help out with, perhaps, one of the most important decisions about your business.

In the meantime, we have come up with a list of helpful tips on how to choose a name for your new business venture.

1. Brainstorm, brainstorm & brainstorm.

2. Pick a name that won’t limit your business growth.

3. Avoid hard-to-spell names.

4. Conduct a thorough Internet search.

5. Conduct a trademark search

6. Is it catchy? Ask for feedback

7. Use a name that conveys some meaning.

Now, let’s delve deeper into each one of these categories so that you may get a sense of the work behind each one of them.

1. Brainstorm, brainstorm & brainstorm: It may sound silly, but this creativity tool is one of the most profound and simple ways to come up with a name. Start by making a list of all the potential names or name combinations that you have in mind and then read them out loud, this will help you narrow down your choices.

2. Pick a name that won’t limit your business growth: Don’t limit your business to a particular product or a specific city. Most of the big brands that we know of these days have nothing to do with the items they sell, think about: Nike, Starbucks, Bloomingdales, etc. You get the idea.

3. Avoid hard-to-spell names: having a fascinating idea about a name may make sense to you but consider your market and your ideal client: will they be able to easily pronounce and understand the concept, this is where having a clear target market comes into place, you want to make sure that whatever name you choose will make sense to your target audience instead of confusing them.

4. Conduct a thorough Internet search: One of the most common mistakes future business owners make is to assume that their name is unique, in this time and age where there are probably millions of people opening up businesses every single day, we can not assume that anything we say or do is unique, do take time to do a simple google search and you’ll see that 9 times out of 10 someone may have already come up with a similar idea if not the same. This is not to discourage you, quite the opposite, this is meant to help you avoid common pitfalls.

5. Conduct a trademark search: Even though a trademark search is one of the most basic considerations in using and registering a trademark, it’s also one of the most often overlooked. The excitement of developing a new product or service and coming up with a name, logo and/or tagline, combined with the amount of time and money required in conducting a trademark search, leads some people to just avoid it altogether. But you should always conduct a professional trademark search before both using the mark and filing a registration for it. This is just one of the main reasons why. If you begin using a name or logo without conducting a trademark search, you run the risk of infringing on someone else’s mark. Ignorance of an existing mark is not a defence to a trademark infringement claim, and, if the other party can prove that your mark caused a loss of business for them, you may be required to pay damages.

6. Is it catchy? Ask for feedback: Clearly, there are a lot of considerations to make when choosing a name for your business. You want it to be close to your heart or have some meaning to you, you want it to be clever, unique and you need to make sure you’re not overstepping into someone else’s territory, but there’s more, It also needs to be catchy! What to do now? This is where your friends and family come into play after thorough deliberation and consideration. You have narrowed it down to the top 10 or top 5 names, now you want to share it with a small group of people and get feedback before you settle on the one.

7. Use a name that conveys some meaning: At this stage, you have brainstormed, you have avoided common pitfalls, you have hopefully done your research, and you have made sure that your name follows basic legal standards, etc. Now, it is time to pour your heart and soul into your final choice. It is always best to have a story or a reason why you chose your particular name; the modern customer is much more informed and interested in the reasons why it makes sense to buy from you.

By Diana Gonzalez
Project Manager @dataoptin

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