Many aspiring entrepreneurs do not understand the “strength” of the correct name for a future company. Choosing the correct name for your company and installing it in the official documents is an important moment and far from the overall success of the company. Often, novice businessmen, who have no experience, choose long names, names that have no semantic relationship to the general direction of the business, poorly-read names, or are poorly remembered, etc. She then suffers from a wrong choice.
Your business name should grab attention from the first second, it consists of at least one word, two words, and it should immediately provide an understanding of what this business is about. When choosing your business name, remember what exactly your company name begins with the dialogue between your business and your consumer. In this article, we have prepared an overview of the three most common mistakes that new entrepreneurs make when choosing a name and three expert opinions that help avoid these and subsequent mistakes.
Choose Business Name carefully
Check the company name for uniqueness. Do not repeat the name of the current companies Review the patent and trademark registry for the Russian Federation (or your country) and try to see if this name is used by any of the existing companies. Much money can be saved if your choice is carefully thought out.
The creative company name is the key to future success. The name of your future company must be understood by any user at a glance, from the first reading and it is very important – the company name must immediately mention what the business is about.
What’s he doing? What do you expect from him?
It is difficult but possible. Often on the Russian market, you can find the name of companies that not only inform the consumer about the nature of this business, but also conflict with the business itself.
For example, the company name: LLC “Low Rise Building” provides services to consumers for duck cows. Obviously, at first the company’s activity was construction, then as the industry diversified or declined, the commercial activity changed, but the name remained.
This is a big mistake and most likely the company will lose annually much more than the cost of re-issuing or replacing the entire company name.
Effect of Business name
When you first define a company name, remember that within a few years your business may change in an unrecognizable way, and instead of providing apparel manufacturing services, you will sell flowers. If it is impossible to choose a global name in the future, it is better to spend money on changing it.
How to find the right company name online?
The phrase “If your business is not on the Internet, you don’t have a job, you really put everyone on the edge of a cliff.” But the truth of this phrase has not lost its relevance.
A child fitness professional from childhood liked the word he then chose to name his business. The entrepreneur liked this name a lot, but for most users, this word has been associated with a well-known brand for the production and sale of men’s clothing.
This coincidence was the reason that the company was losing its customers and therefore the company was losing profit. Hundreds and thousands of people search for information about clothes, and go to the website of a fitness service company. There is an emphasis on interests and non-target users who do not wish to purchase fitness services come to the site. Who loses from this choice? Childhood memories or business?
Use Relatable Keywords and Phrases
Avoid using words and phrases in the company name that are not related to your business. This can lead to consumer confusion, and the business name will be reflected in the search and not at all where it should be. It is essential that consumers be “graze” precisely.
How to use an online business name generator?
There are many online name generator on the internet which you can use to find your business name in the future. At least we returned more than a dozen of them and we did not continue to study this problem, because we consider it not the best idea. Here you need to understand that the name of your future company is not just a word, it is not just a name. This is the first step to success. This is your good marketing, this is your face, this is the first thing a consumer can see when meeting for the first time. Choosing a company name is a very serious and responsible step, and confidence in this step is to “without a soul” and not a “very smart” generator is the top of a trivial attitude towards your future.