It's one of the first steps to starting a business, and for a lot of entrepreneurs it's also one of the most stressful. Choosing a great and memorable business name is more important than most new business owners realize. So here are 7 common mistakes we want to help you avoid.
Of course you want to make sure your business name is available for legal purposes. But you also want a name that is uniquely yours. Don't give your business a name that is too similar to your competitors. This can cause confusion between the two of you and that's never good for marketing.
Shorter names are easier to remember and better for branding. Think about how your name will look in a logo, in a web domain, across social media platforms. The fewer characters in your name, the better.
You want your name to be easy to communicate and remember. Avoid things like weird spellings and complicated words your audience might not be familiar with. A good test for this is whether or not you can say your business name to someone without having to explain it, spell it or write it down.
A simple name is good, but it does need something to set it apart from other businesses in your industry. A generic name will likely get overlooked. So put some creativity and personality into it.
Looking at trends for inspiration can be great when coming up with your next ad campaign, but not when naming your business. Trends come and go and you need a name that will last. So avoid using trendy words or phrases in your business name that won't be relevant 5 years from now.
We've seen so many entrepreneurs name their business after their location as a way to avoid being too generic. But what happens if you ever decide to expand or relocate? Don't let your business name limit you to one area.
Do your homework on your business name idea. Sometimes the words or phrases we think are clever and creative actually have a different meaning in other cultures. So make sure your name isn't associated with something that isn't your brand.
Before making it official, test your name out among your target audience. Get feedback from people in your circle, especially those who fit the description of your ideal customer. And be open-minded to change.
If you're in the process of starting a business, we'd love to work with you to give your new name a brand. We've helped several new businesses with logo designs, websites, business cards and other marketing materials. Contact us for a free initial consultation and let's get your business to the next level!