Choosing a business name is important because it has to be gotten right. To get a catchy business name, you have to follow these steps that worked for me.
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Go Back To The Basics
Review why you want to start the business, what it is to be known for, the visions, mission, and selling proposition for it. Also, consider the industry you are in and ensure you are personally happy with the final choice. This is important because your business has to live with the name for a long time. It should be a unique unforgettable name.
See Also: 10 Practical ways to reduce business expenses and increase your business revenue.
Conduct A Brainstorming Session.
Think about the name suggestions that are coming to mind and write them out. This you can do with a friend, colleague or partner. At this stage, you will have a very long list of names. Do not be afraid, you are still doing alright. Be creative. Let the thought process flow freely. Follow the guidelines that you have set yourself to. Avoid names that will limit you to particular geographies or location or allow you move around to add product lines.
See Also: Business plan template for small business owners to follow.
Keep It Simple
Simplicity is sexy. Straight-forward names are back in style. They cost less to brand.
Take Time Off
You will have a long list of names most likely. Remove those that don’t resonate with you till you prune the list to about five names. Then walk away and come back after a time. If none of the names feels right to you, then start brainstorming process again.
See Also: Understanding the different legal business structures in Nigeria.
Check For Availability
If it is acceptable, check for availability – both at the corporate registration authorities in your country and online through Google search. Check if the .com domain for the company name is available. Customers tend to associate .com with established brands than .net or others. If not available, then check if the domain owner is willing to sell. Check if the name is trademarked or not with the registration authorities. Check on the social media platforms for the availability of handles generated with your business name.
Ask The Right Audience
Ask an audience (aside family and friends). Find out if the name makes sense and if it links with the product or service you are selling.
Secure The Business Name
This is done by registering your business with the appropriate authorities (probably working with a lawyer). Incorporating a business name, even if small, is important so that the business is a separate legal entity from you the owner. Registering a business name, company incorporation and trademark registration are some of the services we offer at ReDahlia Workspaces.
This text is derived from a live video broadcast from Wary Pen at ReDahlia Workspaces, 43B Emina Crescent, Off Toyin Street, Ikeja. We are happy to give you a FREE tour of our facility anytime. If you run a successful business and want us to feature you on our platform then send us an email on email@example.com or give us a call on 08188122223.
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