One tough decision when looking to start a business is picking the business name. this is a key piece of your branding strategy, and not easy to change once you’re established. Your business name says a lot about you, and who you’re as a company.
So get your notebook out and write down 10 names you think that may be good for your business once you have finished reading this blog.
It may make sense to come up with something unique, something catchy, play on words. This is typically best served for a more light-hearted service industry, as opposed to something more like financial advising. In short, the business name should fit with the industry to some degree.
The best ways of picking a business name is to use something personal. For example, if your name is Henry, you may want to go with something like “Henry’s Repairs”. Often you will use family businesses that stick to this model, and it isn’t a bad approach. Usually this goes well locally, and if you or your family are well connected in the area, using your name works great for brand recognition. However, it often does little to tell new clients what your business actually does.
A popular choice for a start-up or small business is to focus more on what the business does. Something like, A+ Window Repairer would leave little doubt what you specialise in. If you can narrow it down this way, it may be effective for getting your message out in the business name itself. Whilst this does serve to reinforce your primary business it will also likely be replicated by your competition, so the name isn’t very unique.
A less personal option is to use a company name that is associative. This is about creating a feeling or association with how a particular word makes you think or feel and adding that to your brand. Think of positive objectives and these are some examples of things you may have found in a company name. words that make you think of dependability, trustworthy, or value may make for a good business name.
An alternative is to choose a business name that is freestanding. These names are in no way associated with what your business does, but just a word that is seemingly made up. For example, does Twitter really have a meaning? Now that they have established a brand it obviously does, but when they first picked the name it is likely that this was some abstract thing they chose. The criteria here is more fuzzy, because you are probably looking for something that just sounds right. Clearly that can be a moving and abstract target.
Picking a business name is certainly a vital part, especially if you are in the mobile food industry. Think about all the food truck names you have seen, many times you find things that are really clever and catchy.
You can also create a Poll on Facebook once you have put together a number of names and ask your friends which they prefer, don’t spend hours or days slugging away trying to pick the perfect name, I believe your friends will give you an honest opinion and make sure strangers can relate it to what your business does straight away.
And…. Don’t forget to check if the name is available or someone already owns it, if it’s not owned register your chosen name with ASIC the Australian Securities and Investment Commission.
Don’t be accidentally using someone else’s business name as this can get you into trouble with them and the law and could cost you a lot of money if you have to re-brand, protect your business name, also consider trademarking it but that can cost a-lot more, this is optional but gives you more protection.
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