Looking to start a business? Choosing the right business name surely matters. To a large extent, names you choose to use typically have a major impact on how well the business not only does but also how well it will connect to your intending customers.
It is also important to choose a name that will embody your values as a business owner. I must say, this can be stressful as you rack your brain for various ideas on what is best to use among other things
What is a business name?
A business name is typically a name under which a business trades for commercial purposes. It is a title under which a sole – proprietor (that is, a single business owner) or a partnership carries on its business. It can also be said to a name, other than that of the owner under which a company conducts business.
Why have a business name
- Your business name identifies you and your business. What your business stands for, area and strength of operations etc.
- Your business name will be on everything you put out to the public
- Business Cards, office documents such as letter head, stationery will all carry your business name
- Your marketing materials and all forms of advertising carries your business name
- Lots of businesses typically use their business as the company website name
- The business name is on all contracts and agreements made by the company
How to pick a business name
Check out the tips below on how to pick a business name
- Start from the very beginning
There are many different moving parts to consider when you start a business, and you probably have a handful of different ideas floating around in your head. The best way to start the process of choosing a name for your business is by reviewing the foundation of your business. Consider your mission statement, like the one Delon.ng Nigeria’s top classified ads website uses, your business plan, and your unique selling proposition. And don’t forget to think about your target audience.
Create a list of written guidelines so you can refer to them during the process. Some questions that can guide you as you choose a name for your business include:
- What message do you want to portray through your business name?
- What are your biggest priorities for your business name? Do you want it to be easy to pronounce, different and unique, directly related to your products and services, etc.?
- What do you want people to think and feel when they see your business name?
- What is your business structure and will your business name use a related abbreviation?
- What are the names of your competition? What do you like and dislike about those business names?
- Does the length of the name matter? If so, do you want a short name or a longer name?
For a Business like Delon.ng, we knew from the very beginning what we wanted to achieve with the use of the name. Become one of the Top classified websites in Nigeria that allows you Post classified ads in Nigeria, offering the teeming number of unemployed latest jobs in Nigeria. While offering laudable tips on how to buy and sell online various categories of products ranging from Designer clothing, Mobile phone deals, Budget laptops, to Nigerian property for sales and more.
- Make sure the name is available
So you have brainstormed and come up with a business name you love. Sounds like you are good to go right? Not so fast, use Business name generators to be sure the name is available. Lots of prospective business owners automatically assume the name will always be available but are left disappointed by the time you choose to register the name
- Conduct a Brainstorming Session
Once you have outlined the guidelines for choosing your business name, it’s time to introduce some creativity. In fact, the more creative and free-thinking you can be during this stage, the more ideas you will generate, and the more possibilities you will have to choose from. During your brainstorming, you should keep your guidelines in mind, but allow yourself some unrestricted time to be creative. Some common ways to start a brainstorming session include brain dumping, list-making, mind mapping, and word association. If you’re new to brainstorming, review these brainstorming tips to get started.
- Give it some time
Now that you have conducted your brainstorming session(s) and have a long list of possibilities, it’s time to review and analyze your results. Go through your list and remove any non-contenders, sort similar names and mark the names that immediately resonate with you. This step should take a few different sessions. It’s important to let your ideas, preconceptions, and biases settle before you create your shortlist of best possible business names.
When you have your shortlist of potential business names, walk away, do something else or sleep on it. Choosing a name for your business is a big decision and the final result will stay with you for a very long time. Let your ideas percolate for a day or two, then come back to it and review again.
- Keep it simple
You don’t want your potential customers spending hours looking for your business online. This is why it is important to keep the business name simple
- Favor common suffixes. Everyone will assume that your company name is your domain name minus the suffix “.com” or the standard suffix for your country. If these suffixes are not available for the name you prefer, pick a new name rather than settling for an alternate suffix like “.net” or “.info.” Get all three suffixes if you can.
- Don’t box yourself in. Avoid picking names that don’t allow your business to move around or add to its product line. This means avoiding geographic locations or product categories to your business name. With these specifics, customers will be confused if you expand your business to different locations or add on to your product line.
- Sample potential customers. Come up with a few different name choices and try them out on potential customers, investors, and co-workers. Skip your family and friends who know too much. Ask questions about the names to see if they give off the impression you desire.
Hoping this helps!