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Today I am going to share with you an article from I am so excited to share a post written in collaboration with Carleen who writes for the blog The BizBuzz where you can find tons of inspiring content about succeeding as an entrepreneur. When you are done visiting my blog, make sure you check out the links in my closing credits for more from Carleen.
New entrepreneurs should not underestimate the importance of a good, memorable business name, when planning to launch their new company. Your company name is not just about putting a legal label on your business. It is part of how you tell your company’s story and, depending on how well it tells the story you want it to tell, can make or break your business. What goes into making a fabulous business name, versus a week or downright awful one, though? Read on and learn more about the importance of a good company name and how to come up with one.
Be aware of things you don’t want your company name to convey.
To understand what makes a business name good, it helps to know what to avoid.
- Your business name shouldn’t send the wrong message. If people are looking for a sandwich shop, don’t give your business a name that sounds like a beauty salon.
- Names that inadvertently convey a double entendre, or sound vulgar when you don’t intend to, may offend potential customers while also broadcasting that you aren’t very self-aware.
- Your business name shouldn’t be hard to spell or pronounce if you want customers talking about you.
- Avoid making your business name too local, since you may opt to move or expand, later on, and may end up having to do a name change.
- Don’t choose a name that will limit you if you need to make changes to keep up with the industry.
Okay, so what are the qualities of a good business name?
Keep these attributes in mind while brainstorming and weighing different business name options.
- A good business name should be memorable in a good way.
- It should be distinctive, so people won’t confuse your business with other businesses. If your name sounds too much like another company name, this could even cause legal problems.
- Your business name should align well with your branding and marketing.
- Your business name should convey helpful information.
- It should be easily translatable into other languages.
Some tips for coming up with a great name for your company.
If you’re feeling uninspired in your quest for a business name, here are some ways to get the creative juices flowing.
- See if you can create verbal mashups using several different words relating to your brand.
- Look at mythology, history, and literature for inspiration.
- Borrow words from other languages (if you are quite clear on their meaning!).
- Take a dive into the dictionary.
- Use some creative spellings.
- Incorporate symbols into the name.
The next steps, after you’ve chosen your name.
Here’s what you do to get your business live once you have selected a name for it.
- Create your business plan.
- Form your business and register it as a legal entity.
- Get funding for your business.
- Get your federal and state tax IDs.
- Get any licenses or permits you may need.
- Create a good business website.
- Market your business.
Believe it or not, having a bad business name can doom your venture before you’ve even gotten it off the ground. By contrast, when you pick a great name for your company, you are courting success from the very start.
Thank you so much for joining us today!
More from Carleen: The Biz Buzz
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