When it comes to naming your business, it is as important as naming your first born! Remember the amount of grueling hours that you spent pondering over the perfect name for your bundle of joy? Your business is most likely “your baby” and should require the same amount of attention when it comes to being creative in giving it a name. After all, think of all the blood, sweat and tears that have gone into creating your business. The least you can do is give it a great name that will stand out and be remembered!
There are several tips to keep in mind when naming your business. There are many suggestions to help guide you, but here are 5 things to avoid when considering the perfect name for your company!
- No geographic branding – Avoid the pitfall of branding it with a city or state name. Unless you know that you never want to expand, then don’t do it. You will be faced with feeling the need to change the name after it moves into another state or city! An example of this is Kentucky Fried Chicken. They changed the name to KFC to let others know you don’t just have to eat this chicken in the good ole’ state of Kentucky!
- Don’t ask too many opinions –This can confuse anyone! When asking mom, grandma and your best friend, they are going to have a variety of opinions. Ask key decision makers in your business.
- Be open to change – After a while you may realize that the name was not cracked up to what it should be. Be open to changing it if it is not “working.” Don’t think it can’t be changed just because that is how it has always been. However, try to name it correctly the first time so you don’t even have to deal with this!
- Be unique – don’t copy – Be daring and unique. Don’t think you have to put the word “General” in the title like General Motors or General Electric. These names have such a strong identity that you do not want to look like you are copying them but rather that you are unique and have come up with a name that others have not.
- Avoid the trend – Don’t name it after the latest trend in technology or any other trendy, catchy title. Once that trend is over, your company will appear dated and you want to avoid that. You want to be seen as a company that is with the times and not “old hat.” For example, “Blockbuster Video.” Videos are now dated. Who really has a VCR anymore? Make sure that whatever you name it, it can flow with the change of time.
Owning your own business is an opportunity to be creative! Get those creative juices flowing and pick out a name that can help soar your business to great levels. Please check out our blog and knowledge center for a variety of topics regarding business related topics. Also, if you are considering forming a corporation or LLC, we can help you decide what is right for you. We wish you the best in picking out the perfect name that others will remember in a positive way for years to come!
