How to Decide on a Business Name: Tools, Tips, and Strategies
By Neil Patel
There are dozens of considerations entrepreneurs have to keep in mind when launching a new company, from the logo to the product to the packaging. The business name, however, may be the most important of all.
There are over 30 million small businesses in the U.S., according to the U.S Small Business Administration. That means you have to go above and beyond to stand out. The right name can help you do just that.
If you’re stuck on what to call your business or just want to make sure your chosen name ticks all the right boxes, I’m here to help.
In this article, I’ll cover my top tips for picking a winning business name, show some examples of what a great business name looks like, and even let you in on a sneaky way to get a load of business name ideas fast.
10 Tips to Pick a Business Name
Your business name can be almost anything you want it to be. As long as it’s legal and isn’t already in use, you’re good to go. However, there are several best practices most legal and marketing experts agree on.
I recommend the following tips to make sure your business gets off to the best start possible.
1. Ensure the Business Name Is Not Copyrighted or Trademarked
I’d recommend going one step further and make sure it’s possible to trademark your brand name. You never know what the future will bring, after all. Even if you plan to keep your business small, I strongly recommend making sure it’s possible to copyright and trademark your brand.
Not doing so could land you in hot water years down the line. Just look at Apple. When Steve Jobs started the company, he chose Apple’s name because he was a fan of the Beatles (their recording label was called Apple Records).
There wasn’t any conflict initially because the two companies operated in completely separated industries. That was until Apple launched the iPod and the iTunes store, however. When they started operating in the same industry, Jobs quickly found himself saddled with a lawsuit.
2. Ensure the Business Name Isn’t Already Taken
This is a no-brainer, but it’s important to mention. Ideally, your business name will be unique and not used by any other business in existence. At the very least, it shouldn’t be used in any way by other companies operating in your industry.
A quick Google search can help you out here. If any results or domains come up that suggest another company is already using your name, either as a business name or as the name of one of their products, then it’s time to go back to the drawing board.
3. Ensure the Business Name Is Descriptive
You want customers to have an …read more
Source:: Kiss Metrics Blog