3 Top Considerations for Naming Your Business. You have your business idea. You know what product you’re going to sell, or the service you’re going to provide. The next step (after ideation, a great deal of hem-hawing about the feasibility of owning your own business, and some anxiety) is perhaps the most important part: choosing a business name.
This is a big deal as there are a lot of considerations to take into account when choosing a name for your business. Before you take another step in creating your business, let’s go over some of them so you can be as informed as possible before giving your company its nom de l’entreprise:
Make it marketable!
Top Considerations for Naming Your Business. Creating your brand is more than just choosing a descriptive name and slapping it on social media pages. You want to make sure the name of your company embodies the values of your organization.
However, you also want it to stand out. Don’t let the idea of gaining “credibility” through your name convince you not to be creative in the naming process. You should make sure your name carries relevance and that it’s not just a jumble of words.
You also want to elicit emotion from potential customers. Words are powerful tools, and they can help you create feelings that can lead to purchases.
For instance, pun-based business names can make it easier for you to create a marketing plan. The brand slogan practically writes itself with names like “Amy’s Winehouse” or “Indiana Jeans” — which are names of actual businesses! Just make sure you don’t fall too far into the rabbit hole. If you pick a pun-based name, choose one that most people would understand. You don’t want your potential customers’ first interaction with you to be one of confusion.
Along with choosing a business name, you need a high-quality logo that represents your brand and appeals to customers. When starting out, you could use a free logo maker online to help you quickly put together a logo for your business. However, once you have the financial means to do so, work with a design company like BluCactus to put together a professional logo that people will immediately recognize and associate with your business.
Avoid the hot water, Top Considerations for Naming Your Business
One of the most important rules for naming your business is to make sure it’s not offensive. For one, you don’t want to turn off potential customers. For another, you don’t want to be in legal trouble. This is straightforward enough: Steer clear of offensive language and slang!
Other important legal considerations involve making sure you dot your I’s and cross your T’s. Trademark the brand, logo, and other treatments in the countries you intend to sell your product. An easy rule to follow is to do a quick search of your name ideas to make sure it’s unique. You don’t want to get neck-deep in the naming process and then discover that another entrepreneur looking to make their mark in your field has already snatched your idea up.
One thing you may want to consider is using a DBA name, which enables you to sell your products or services under a different name. This is ideal if you decide to branch out at some point and want to use a more relatable name. Before registering a DBA name, research your state’s regulations and fees.
Form an LLC
Something else you should consider before officially giving your business a name is whether you should form a limited liability company (LLC).
Giving your business the LLC designation will be helpful from a tax standpoint, but it can also help you avoid personal liability if your company were to get into any legal trouble — it basically keeps your personal assets separate.
The first step to creating an LLC is — you guessed it! — naming your company. Keeping all the aforementioned legal considerations in mind, you should also consider whether your state prohibits certain words from being used in business names. The same rules apply here to ensure the name is unique and that you follow the proper naming conventions.
With the tips above, you’ll be able to create a business name that embodies your company’s values and boosts your brand.
The skilled team at BluCactus Marketing Agency provides exceptional digital marketing services. Call 469-206-5510 to schedule a consultation!
Author bio for this guest post:
Lisa Walker is the proud mom of two adorable (but feisty) sons. She created Neighborhood Sprout as a passion project to share her love of homeownership with others, and she enjoys writing home- and community-related articles in her spare time. When they’re not tackling their latest DIY home project, she and her husband, Jake, love taking their boys to trail hiking and beachcombing.
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