That amazing feeling when you finally decide to start your own business. You are going to be your own boss.
But then there’s so much work to do before you can get started. Depending on what you are setting up, it’s going to differ from business to business. Some basics include; finding a great location, office space if required, staff, equipment etc. Then there’s the one thing that runs through for all businesses. You need to choose a brand name for your business. Now most people underestimate the power of picking the right name for their businesses. There are many companies that could do so well but aren’t doing so because of choosing a wrong name. Choosing a brand name is almost as important as the business itself. A lot of thought should be put into selecting a brand name and for most people it takes up to several weeks, months or even years to come with a perfect name which embodies all that the business is about.
The name of the business is one of the first things that a potential customer comes into contact with so it must be just right to get the desired response from the customer. First impressions count! The right brand name amidst other things can cause your business to soar and become the talk of the town. However, a wrong one can be the doom of the business from day one. When selecting a brand name, one should not just pick a name because its trending at the moment or it seems catchy. It requires so much more. A lot of factors must inform the brand name you choose for your company. Remember it’s not temporary but will last for as long as your business remains. You may decide to change it later but changing a brand name is costly so why not spend the extra time and make the right choice now?
These tips could help in choosing the right brand name for your company:
- The option you choose should be meaningful to you and to your business.
- It should communicate what your business is about or at least give a hint as to what to expect.
- It should stir up an interest in potential customers.
- Don’t choose a name that confines you to a particular place and prevents you from expanding if you should want to in the future.
- Get expert advice.
- Test the options you have by asking trusted friends and family to see how the public may possibly react on it.
- There is the possibility that your choice could have already been used so it’s also important to research on that before outdooring your choice. This could save you from unnecessary lawsuits.
- Apart from the above, do further research on choosing a brand name for your business. Read wide! There are others who’ve been there before and can throw more light on whatever challenges you may face.
In a nutshell, a lot rides on the brand name you choose for your business. Choose wisely!
Choosing a brand name for a business by Doreenda Amakye for the Thrive blog.