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Do you want to know how to choose a business name for your startup? In this article, I’m going to show you how to choose a successful business name for your startup. Choosing a name for your business is very crucial to the success of your business. Every business has its target market; that is the people you are going to sell your product or service to.
Your target market should be able to remember your business name; not just remember, but they should also be able to pronounce it.
Choose a name that when people hear about, they will want to inquire about the business. The name that people will turn and look at for the second time when they see your sign post. That is the kind of business name I’m talking about.
My first business I registered in 2010, Diverse Solutions, had a target market which is now evolved to Universal Legacy. It was formed to offer IT solutions, specifically websites design. So, I did not care if the market woman at the Tamale Marketplace couldn’t pronounce it. Why? Because, she wasn’t part of the best reason why the business was formed. WhatsApp is a great brand name but my mother can’t pronounce it well because she’s not WhatsApp’s target. That doesn’t my mother carries a tabula rasa. In fact, she’s a theologist – a public speaker, who can read and write Arabic text.
Choosing a business name, you might want to think beyond just getting a name by thinking a little bit bigger about your brand name, website, and even social media platforms.
That said, below are some tips and tricks you can follow to find a good and memorable name for your business.
Tips and Tricks of How to Choose a Business Name
The following guide will give you a heads up on how to choose a business name for your startup. This covers what you should do and what not to do.
1. Use your first and last names
This is simple. In choosing a business name, you can decide to use your first and last names. You can couple that with Enterprise depending upon the kind of business formation you want to go in for.
You can also use a compound name like Abusala (the first 3 letters are the beginning of my surname and the last four letters are the beginning of my mother’s name).
2. Use words that are related to your business
Get a creative name by including words related to your business, Ansuar Investments if you were to be in the investment business. Ansuar is just my family name and I have added ‘Investments’ to it. Isn’t that cool!
3. Use “Model the Masters” methods
You can use the “model the masters” method to choosing your business name. Look at the brands that you look up to and consider how they named their businesses, then use it as a formular. So, if you like the name Ansuar Investments, you just need to plug-in a word or two in place of “Ansuar”.
This substitute you are going to make can be your name or an adjective related to your business.
4. Choose a name that sounds good and memorable
Your business name should sound good to the ears of your clients or potential clients and should also be a memorable one. It can be rhyming words like Coca Cola.
5. Choose a name that is short
Use a name that is short, easy to pronounce, or spell. This means, you need to avoid long names and names that are difficult to pronounce. Imagine a business name with five (5) consonants following each other which is not an abbreviation.
6. Conduct a name search
Do a name search on the Internet. If you need an online presence for your business, then do a background check to make sure your name doesn’t conflict with others.
7. Avoid town or country-wise names
Avoid using names of town, cities or countries for your business. Town or country-wise names sound like NGO names. For instance, if you say “Inspire Ghana” or “Tamale Boutique”, it would be difficult for you if you want to expand into other countries or towns respectively.
8. Avoid using numbers
When you use a number or a couple of them, people may mistakenly spell “24” (in figures) as “Twenty-Four” (in words), especially when you’re mentioning it on TV or radio.
9. Avoid using your children’s names
Children are complex and sensitive beings. So, if you name your business after child A, child B might not be happy about it which can lead to problems in future.
10. Pick a name that doesn’t limit you as you grow
It’s not prudent to choose a name that limits you to advancing into other areas of business. Unless you want to niche down for life, choosing a narrow name may make things difficult for you if you want to diversify in future. Jeff Bezos started by selling books and if he was to name his business as “Amazon Books” instead of “Amazon”, we would have seen a different name by now from the one they’re currently using.
Conclusion on How to Choose a Business Name
It’s not easy choosing a business especially when you’re just starting, but it’s not something to wrestle over. You may consider getting ideas from your family, friends or even your potential clients. Getting varied viewpoints is not a bad idea.
It should however bear in mind that, choosing a good business name is just a stepping stone to building your brand. There is no denial of the fact that a good business name will give your business a better recognition, it’s your job to meet the client demand and bring your business to success.