Here at AP we are always in the business of exploring new verticals and markets. Often times branching out into a new direction is essential for growth. Along with these new units come new names. It’s important to consider the long term implication of choosing a name to brand yourself behind. Below are some key things to consider when starting a new company or re-branding an existing one.
Your business name is the first thing customers will notice about your business, so it is important to choose a distinctive business names that creates a great first impression. The best name will reflect the purpose, services, and style of you business and will set you apart from your competition. When customers hear your business name, they should gain an immediate understanding of your products or services.
Feel free to be creative when choosing a business name, but be sure that the name you choose meets a few important standards. The name needs to be unique, able to be trademarked, and a reflection of your business. If you plan to have a business website, it is also important to choose a business name that has an available domain name.
Start your search by preparing a list of the purpose, products, services, and goals of your business. Look over this list as your brainstorm ideas for potential business names. Think about the message you are trying to convey to your customers. If you are appealing to customers with traditional needs, consider names that convey a sense of comfort, trust, and dependability. If you are appealing to a more eclectic crowd, consider choosing a highly unique name that reflects your modern flair. Before you decide, use the following tips for choosing a distinctive business name.
Choose a Unique Name
Unique names are easier to trademark and more likely to be remembered by customers. Try to avoid overused names like Apex, Summit, and Pinnacle. While these words evoke a sense of achievement or success, they are also widely overused by hundreds of businesses. Avoid blending in with the crowd by choosing a name that sets you apart from the competition. This name might involve using a word that conveys your business message, or you might utilize other naming techniques such as using names that relate to a need or desire.
Whatever name you choose, be sure to do your research to see if another business is already using the same name. A simple Internet search can often tell you if the name is already in use, or you can contact your local Chamber of Commerce to see if there are other similar businesses in the area. By choosing a unique name, you will make your business more distinctive in the eyes of potential customers.
Don’t Limit Yourself
Sure, you might only sell widgets right now, but why should you limit yourself to one product by naming your business Widget World? Using the name of a highly specific product in your business name can severely limit any future growth and expansion. Instead, try to find a name that describes your goods and services without limiting you to one particular item or area of expertise. Above all, always plan for future growth.
Choose a Name You Can Trademark
In order to protect your business identity, you should file for a state or federal trademark. Common names like “Dave’s Poker Market” and “Joe’s Poker Tips” are difficult to trademark. Opting for a unique and distinctive business name makes it far easier to protect your business through a trademark.
Choose and Available Domain Name
If you plan to build a business website now or in the future, it is important to choose a business name with an available domain name. The domain name doesn’t have to exactly match your business name, but it should be as close as possible. Before you decide on a business name, check online to see if the domain name is available. If the name you choose is currently available, register your domain name to avoid losing it to another business.
Final Points to Consider
Your business name is a reflection of your goals and purpose. The first interaction your customers have with your company will involve your business name. By following these tips for choosing a distinctive business name, you will be more likely to choose a name that suits your goals, your customers, and your services.