One of the most difficult parts of starting a company is knowing how to name a business. Entrepreneurs like yourself struggle with this seemingly simple part of launching a startup because it impacts the success of the business. When entrepreneurs establish their companies with easy to remember names that are both unique and intriguing, they achieve their sales goals. If you want to accomplish your entrepreneurial dreams, read on and learn how to name a business startup that will attract customers.
Make It Meaningful
To begin learning how to name a business startup, consider what is meaningful to your target audience. When entrepreneurs name their companies after more generic subjects, they have trouble attracting customers. Consumers want to purchase products and services from a company that offers a specific service. Such companies are more meaningful to consumers because they know that the employees behind the name offer professional assistance in one particular area. Create a name for your startup that portrays this meaningfulness to attract customers.
Another crucial element of beginning to name a business is branding. Whether you have background knowledge in marketing or not, try to think like a marketer. Your future marketing team needs to be able to advertise your business name easily and effectively. Thus, you cannot name your startup after a long, hard to pronounce town because you grew up there. You also cannot use your own name if it is lengthy and difficult to remember. Your name needs to be able to fit on promotional items. Consumers need to be able to figure out what your company offers from just reading your name. Think “branding” when you start to name a business. Take it a step further by utilizing the top enterprise franchise marketing tips to capitalize on brand awareness.
Conduct A Name Search
Additionally, conduct a name search to name a business startup. This step keeps entrepreneurs out of legal trouble. It also helps you avoid confusing customers. When companies establish brand names that are too similar to other companies’ names, consumers get confused. They might end up purchasing items from the other company when they originally wanted to buy your products. Search your name ideas on the Secretary of State’s search for businesses. The site will inform you of any names that are either the same or similar to the ones you are considering. Choose a business name that stands out from others in your industry by conducting a name search.
Test It Out
Successful entrepreneurs also test out their potential names when they name a business. Reach out to your friends and family. Write down your potential names and ask them to read them aloud. This will show you whether you potential names are easy to read and pronounce. You can get an idea of how business professionals will read them on tradeshow displays and how customers will view them on signage. Then, speak your options aloud to them. Ask them what they sound like. Once you get their feedback, move onto speaking to investors. Ask for their thoughts in hopes of receiving brutally honest feedback. By testing out your options, you will be able to name a business successfully.
Host A Naming Contest
Finally, consider hosting a naming contest when coming up with a name for your startup. Choose a reliable, popular website that specializes in hosting business naming contests. Fill out a form on the site, stating what you are looking for in a name and what industry you are entering. Then, wait to receive tons of creative names from various professionals all over the world. If you like what you see, choose your favorite name and use it for your company. This is a great option for entrepreneurs who are stuck and need a boost from innovative individuals. Thus, this is a great consideration when trying to name a business.
Entrepreneurs struggle with coming up with quality business names for their startup. They often find this step more difficult than learning to register a business name. If you are currently struggling, think of your target audience and what they find meaningful. Think about the branding element of a business name. Conduct a name search on the Secretary of State’s site to ensure that you do not select a name that is too similar to another company’s name. Test out your name options with your friends, family and investors. In addition, consider hosting a naming contest if you are really lacking creativity. Follow these steps to name a business startup successfully.