Business Name Ideas
Key business name ideas. Your business name is as important as any other aspect of our business plan. It is key to start developing a branding strategy for future growth. Create your biz identity right from the start using these ideas.
Choose an effective biz name that fits with your business’s objectives, legal issues, and target audience.
Here are some useful ideas. However, We’re not going to give you specific names, but ideas on how to pick the right one for your business offering.
Here are some ways to choose an effective biz name that fits with your business’s objectives, legal issues, and target audience.
Ready? Great, because it’s definitely the best decision of your competitive strategy and as such should be carefully considered. Keep these in mind when thinking about your name and start brainstorming.
In addition, use a thesaurus to find similar and opposite words, as this practice will give you more ideas for a unique spin to your name.
The first business name idea for you is that your biz name should identify your core business. It’ll distinguish you from the competition. It should set you worlds apart from it.
It’s how your potential customers will identify you from now on. So, it’s like you’re getting married to it. You’ll live with it forever (if that’s possible).
For instance, if you sell drillers, what are you you really selling? Drillers, right? Nope, what you’re really selling is holes, aren’t you? The core of your business is helping people make holes fast and easily
If you’re selling jewelry, you’re not just selling an accessory, you’re selling status. If you sell insurance, what are you selling? Get the idea?
The next business name idea is that, it should tell your audience what’s your main offering or what benefit you deliver. With this in mind, think deeply about what problem you solve, or what need you want to meet with your biz.
In other words, focus more on the benefits than purely the features.
Also remember that your name is not just a name, it has other components:
It’s your brand. It’s a term.
2) Brand name:
It’s the symbol or design that identifies your name brand. It could be your logo.
3) Trade mark:
It’s the legal protection of your brand name. It gives you exclusive use of it. It uniquely identifies your company and no one else can use it. You can also protect your package designs, colors, images, and even fonts used.
Next, your name should fit the target market you want to reach. If you want to reach a global audience, then use a globally recognizable name.
If you are planning on starting an online business, and even if you don’t, I would still recommend this. Perhaps in the future you plan to open an online store or to export your products or services.
Use names that almost everyone in the world would easily recognize. Many companies around the world are starting to take a global view on their business names, especially now that billions of people have internet access.
If you want to reach exclusively a local market, then use a name only recognizable in that market. Use names distinctive to that market.
Other business name ideas include the characteristics of effective names:
It should be easy to pronounce, recognize, remember, spell, descriptive and specific. It should also be short whenever possible, be meaningful, clear, classy, and attractive.
Finally, use business names that aren’t easily turned into generic names. A way to achieve this is to protect your name by teaching your audience and writers the right way to use your brand name.
According to trademark laws, if a product becomes generally known by its original brand name, the brand name may be ruled as generic name and lose its protection.
Remember Jell-O? Most people use this word as descriptive of gelatin dessert, and not precisely to identify the brand name. Another example is Lego building bricks. Many people use Lego to refer to the toy and not to the brand.
Brand names for online businesses are most commonly the domain names. If you already have a business offline and want to have an online presence, using the same name might be useful.
On the other hand, it could also be a good idea to use a keyword.
Keywords are words that online surfers are already using to search for products or services related to your business. This should give you a head start with your online presence, as people would be finding your business via the search engines.