How to Name a Business: 5 Easy to Follow Steps

Thursday, August 11, 2022
How to Name a Business: 5 Easy to Follow Steps

Naming a business can be a daunting task. You want to find a name that is unique, memorable, and representative of your company. But with so many businesses out there, how do you go about finding the perfect name? And once you have it, how do you ensure it's protected?

This article will provide five easy-to-follow steps for naming your business. We'll also discuss the importance of protecting your new business name and tips on doing just that. So, whether you're just starting or you've been in business for years, these steps will help you find - and protect the perfect business name.

Why is Your Business Name Important?

The very foundation of your business is its name. It's how customers will remember you, and it will be a part of your branding. Therefore, your business name must reflect the products or services you offer and be easy to pronounce, spell, and memorable.

According to a survey conducted by Invoke Media, over 60% of consumers are more likely to purchase from a brand they recognize. So, you need a great name, and you also need to make sure it's one that people will remember.

First Thing Your Customers Will See

Your business name is one of the first things potential customers will see. It should be easy to read and understand and give them an idea of what you do. People will likely forget if your name is too complicated or hard to pronounce. And if it doesn't reflect what you do, they may not even bother trying to remember it in the first place.

Your business name is also a part of your brand identity. It should be unique and representative of who you are as a company. If your name is too generic, it will be forgettable. And if it's too similar to another business, you could run into legal trouble. Hence, finding the perfect balance is essential.

Your Business Name Reflects Your Business Offering

Your business name can be a great way to market your company and its products. Your name should reflect your name if you sell a unique product or service. For example, if you sell eco-friendly products, your business name could include the word "green" or "sustainable." This will help customers understand what you do and be more likely to remember your name.

On the other hand, if you offer a more generic product or service, your name should be unique and memorable. This will help you stand out from the competition.

Establish Your Unique Presence

In today's digital world, having a solid online presence is more important than ever. And part of that has a unique website address that matches your business name. This will make it easier for potential customers to find you online and help you build a more professional brand.

Securing social media accounts that match your business name is also essential. This will help you build a solid online presence and protect your brand from being used by someone else.

Make sure to register your domain name and secure social media accounts as soon as you have settled on a business name. These are essential pieces of your online presence, and you don't want someone else to get them first.

5 Easy to Follow Steps to Name Your Business

Now you have an idea about the importance of your business name and some things to consider when choosing one. So, how do you go about finding the perfect name? Here are five steps to follow.

Step 1: Brainstorm Business Name Ideas

The first step is to brainstorm a list of potential names. This can be done with a group of people or on your own. There are no wrong answers at this stage, so let your creativity flow.

Write down any name that comes to mind, no matter how far-fetched it may seem. You never know; one of those crazy ideas might just be the perfect name for your business.

Word Dump

Write down every word you can think of that is related to your business, products, or services. This could be anything from the industry you're to the type of customer you serve. For example, if you sell eco-friendly products, some related words could be "sustainable," "green," "natural," or "recycled."

Use a Thesaurus

A thesaurus can be a helpful tool if you're struggling to come up with ideas. Look up words related to your business and see what other options are available. Additionally, you can use a tool like Wordoid to help you find related words.

Use an Online Name Generator

If you're struggling to come up with ideas, using a business name generator can be a helpful tool. Many online generators are available, and they all work differently. But most will ask for basic information about your business, like the type of products or services you offer.

Then, the generator will recommend a list of names that match your business type and products. This can be a great way to get started and develop some initial ideas.

Step 2: Narrow Down Your List

Once you have a list of potential names, it's time to narrow it down. This can be done by considering the following factors:

  • How easy is the name to remember?
  • Is the name unique, and does it reflect your company's brand?
  • Is the domain name and social media accounts available?
  • How does the name sound when said aloud?
  • Does the name have any legal restrictions?

Narrowing down your list will help you focus on the names that are best suited for your business.

Is The Business Name Easy to Remember?

When choosing a business name, you want to make sure it's easy for people to remember. After all, if they can't remember your name, they're not likely to use your products or services.

To test how easy a name is to remember, say it aloud a few times. If it's difficult to pronounce or remember, it's probably not the best choice.

Is The Business Name Unique, and Does It Reflect Your Company's Brand?

Your business name should be unique so it stands out from the competition. But it also needs to reflect your company's brand. This can be done by choosing a name that is related to your industry or what you do.

For example, if you're a florist, you might want to choose a name like "Petals" or "Blooms." But if you're a law firm, something more traditional like "Smith and Associates" would be more appropriate.

Is The Domain Name and Social Media Accounts Available?

Nowadays, it's essential to have an online presence. This means you need to make sure your business's domain name and social media accounts are available.

If you're planning on using a .com domain, you can check availability using a tool like Namecheap. And if you want to check social media availability, you can use .inc's social media checker tool.

How Does The Business Name Sound When Said Aloud?

When spoken aloud, your business name should sound natural. It shouldn't be too long or difficult to pronounce. Additionally, you should ensure the name doesn't have negative connotations in other languages.

Does The Business Name Have Any Legal Restrictions?

Before choosing a business name, you should ensure it's not already trademarked. You can do this by searching the USPTO's trademark database.

You should also avoid using any sensitive words or phrases that could be seen as offensive. Additionally, you should avoid using anyone's name without permission.

Step 3: Test Out Names With Your Target Audience

Getting feedback from your target audience before settling on a final business name is essential. Ask them what they think of the terms on your list and see which ones they remember the best. You may also want to test how the name sounds when said aloud. This will help ensure that it's easy for customers to remember and pronounce correctly.

Does the Name Resonate with Your Audience?

The most important thing is that your business name resonates with your target audience. It should be something they can relate to and remember easily.

Additionally, the name should reflect your company's brand. For example, if you're a law firm, you'll want to choose a name that sounds professional and trustworthy. But if you're a start-up, you might want to choose a more creative and unique name.

Is There an Emotion Factor to Your Business Name?

When people hear your business name, you want them to feel something. This could be anything from excitement to trust. The important thing is that the name evokes some sort of emotion in your target audience.

For example, if you're a luxury brand, you'll want to choose a name that makes people feel luxurious. But if you're a budget brand, you'll want to choose a name that makes people feel like they're getting a good deal.

Step 4: Check Domain Availability and Securing Social Media Accounts

Once you've settled on a final business name, it's essential to check domain availability and secure social media accounts. Securing these early on will help build a solid online presence for your business. And don't forget to use your new business name in your marketing materials!

Does Your Domain Name and Business Name Match?

Your domain name should be the same as your business name. This will make it easier for customers to find you online and help build brand recognition.

You can check domain availability using a tool like Namecheap. Once you've found an available domain, you'll need to register it. And don't forget to secure matching social media accounts!

Consider Your Target Audience's Preferred Social Channels

When choosing social media channels for your business, it's essential to consider your target audience's preferences. For example, if you're targeting millennials, you'll want to be active on Snapchat and Instagram. But if you're targeting baby boomers, Facebook and Twitter might be better choices.

No matter which channels you choose, make sure you use your business name in your profile information. This will help build brand recognition and make it easier for customers to find you online.

Consider Social Platform Requirements

There are a few key differences between the various social media platforms:

  • Facebook is great for building relationships with customers and potential customers. It's a more personal platform, and businesses can use it to share updates about their company, products, and services.
  • Twitter is an excellent platform for sharing quick, concise updates about your company. It's also a great place to share links to blog posts, articles, and other content.
  • Instagram is perfect for sharing photos and videos of your products or services. It's a visual platform, so it's ideal for businesses that want to showcase their products or services.
  • LinkedIn is perfect for B2B companies. It's a professional platform where businesses can connect with potential customers and partners.

Step 5: Register Your Business Name

The final step is to register your business name officially. This can be done through your state's Secretary of State website or with the US Patent and Trademark Office (USPTO). By registering your business name, you'll protect it from being used by someone else and help build a more professional brand identity for your company.

Registering Your Business Name - State Requirements

To register your business name, you'll need to file a "Doing Business As" (DBA) certificate with your state's Secretary of State office. This is also sometimes called a trade name or assumed name.

The requirements for filing a DBA vary from state to state, so it's essential to check with your state's Secretary of State office to find out what's required.

Once you've filed your DBA, you'll be able to use your business name for things like opening a bank account and signing contracts.

Trademarking Your Business Name - USPTO Requirements

You must file an application with the USPTO if you want to trademark your business name. This is a federal government agency that handles trademarks and patents.

The USPTO has a few requirements for trademarks:

  • The trademark must be used in interstate commerce.
  • The trademark must be used in connection with the sale of goods or services.
  • The trademark must be distinctive.

Check out their website to learn more about the USPTO and to trademark your business name.

Conclusion

Naming your business can seem like a daunting task, but it doesn't have to be. Remember to keep it simple, choose a name that's easy to remember and spell, and make sure the name is available as a domain name and social media handle. And don't forget to register your business name with your state's Secretary of State office or the USPTO.

By following these steps, you'll be on your way to choosing the perfect name for your business.

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