Choosing a Name for Your Internet Business (and the real world of course!)
Introduction
Getting the right business/company name has never been more important. If you plan to put your business online, with the Internet’s potential for marketing you need to use a name that benefits your long-term business aims.
The name should reflect all that is desired from your customers (within reason, using 200 characters in your name will not work). Remember that your business name will give your customers the first impression of your business – it may draw in potential customers for a closer look or drive them away for good.
Ideally, the name you choose should shout out as much positive information as possible i.e. ‘The Competitive Local Original Groovy 90′s Men’s 24 Hour Continental Clothes Shop’ says it all.
Alternatively, such names as ‘Egg’ (bank), and ‘Orange’ (mobile phone) say very little but are backed up with millions of pounds for marketing and are therefore are not recommended!
Let’s Start With the Basics
Many small businesses choose names that are based on personal preference – this can be mistake number 1. The best option is to choose a name that reflects your long term business strategy.
Give a name that immediately indicates what you do or how you do business.
Is The Name Restricted?
‘Groovy 90′s…’ is OK if you only sell clothes from the 1990′s but not if you also sell up to date clothes. It is also advisable to avoid any sign of the times unless you feel that ‘groovy’ will survive without Mike Myers!
A name like that above will also restrict you from expanding the business into new areas (products, etc)
What Does the Name Say About Your Business ?
By adding ‘Original’ you are implying that you know your business, and that you are successful at what you do. It is absolutely imperative that you do know your stuff, and that your goods/service is of true quality if you use such wording in your name.
Things to Avoid
Initials (i.e. B.A.E.W.R.T.C. Limited) They mean nothing to anyone bar you.
Using your own name unless you are a professional (accountant, solicitor) You lose the opportunity to promote your business 24 hours of the day with a good name, and people working for you cringe (sorry to those of you with such names). As to using ‘& Sons’, you will stop the best job seekers from applying if the family appears to be favoured.
Clever names such as ‘C U 4 A P @ 1′ (OK not so clever), and ’4 Business RU’ ask too much of the customer.
Shortlist As Many Names as Possible
H ave a pen and paper ready and write down ALL of the names you can think of that might be appropriate for your business. Then start the elimination process to leave you with, say, 5 names. Before you dismiss names, could they be altered using other ideas you have already come up with to create a worthy name ?
Once you have a handful of names, present them to friends and family for their opinions – your favourite choice may turn out to be the less favoured and therefore less likely to work.
If You Plan to Put Your Business Online…
‘Shoes-socks-trousers.com’ will certainly work with search engines for those items, but will not work too well if someone is looking for specific items such as, ‘italian + shoes + london’. Maybe ‘continental-mensware.com’ would work better: this name works well for describing the type of business, it sells a fashi onable product and is a pretty good name for printed material, as well as a marketing link on a web site.
Visit our article Should I Put My Business Online?‘
Are There Any Conflicts ?
Is the name being used at present anywhere in the world and who has the UK rights to the name: use the Net to search, and in the UK also use Companies House.
If the name sounds similar to any other business name change it now before you set out on building your business. What is important is that you do not use an existing or well-known name, whether local or national, in a similar business to your own.
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