Choosing a business name can be quite a stressful exercise. You want something that has an impact, attracts customers, fits in with the brand image you want to convey, and more. Or maybe you already have a name for your business. It just popped up in your head one day.
Well before you make a commitment to your snazzy business name, here are 7 fatal mistakes entrepreneurs make when choosing a name for their business, and how to avoid them.
1. They use name that is hard to spell
You want your prospects to find you easily, so make sure your name is easy to spell!
2. They pick a name that is meaningless or that limits their business
Choosing a trendy ‘brand’ name is all well and good if you have deep pockets to pay for a long market awareness campaign, but if you are working on a budget make sure your name actually conveys what you do.
Choosing something like ‘The Evil Sock Company’ implies you sell only socks. So if you have plans of adding other products, make sure your name is still industry relevant but more neutral, for example ‘The Evil Fashion Company’.
3. They don’t conduct a thorough Internet search.
Search for your company name and as many variations of it as you can. Look at the results for anything similar or negative. Other companies may already be using a variation of your name. There may be a negative sentiment associated with certain phrases. Check several search engines and see what comes up.
4. They don’t buy the .com domain name.
Sure there are lots of domains available today, .net, .biz, .club and many more, but the honest reality is that most people are on autopilot when they type, and will invariably type .com. So don’t mess around here, just grab the dot com extension!
And don’t press go on your new company name until you have searched for the availability of your domain name. If someone is already using it, try using a variation of it or choose a different name.
5. They don’t conduct a trademark search.
Check to see if your chosen name is already trademarked by someone using services like the USPTO TESS (Trademark Electronic Search System). If it is already trademarked for your specific industry, you will have to use a different name.
6. They don’t conduct a business search
Check business names in your country, and in the key countries in which you intend to sell, to see if the business name is already taken. If it is, choose a variation of your name or a totally different name!
7. Check Translations
If you intend to sell in markets that have a different first language to your own, check that your chosen name translates well in those other languages. Yes, there really are products called PeeCola, Arse, and Kocktup!
Choosing A Business Name – Helpful Tools
There you have it, 7 fatal mistakes entrepreneurs make when choosing a name for their business.
If you need some help or inspiration choosing a name for your business, here are some useful tools to help you:
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