Choosing a name is of vital importance when launching a new product or business, getting it right can literally make or break a new business venture. There is actually quite a lot goes into this, it’s not something to dismiss easily and not spend the required time on but with a bit of thought we can get his right. So let’s take a look at some important points when choosing the new name.
Do You Want A Name That Reflects What You Do Or To Build A Brand
This is a very important question when choosing a name, are you wanting a descriptive name or a cool sounding brand name. Let’s take a fictional example, you are wanting to start a vehicle rental business in the fictional town of Townsville so you could have the very descriptive, ‘Townsville Hire Company’ the advantages being that it ties you to the local area, sounds traditional and trustworthy, alternative you could go for a brand name, say ‘Black Colt Vehicle Hire’ this would be less immediately obvious for location but this could be good for future expansion, it also sounds more dynamic and maybe hints at a larger company, it all depends on what image you would like to put out there.
Think About How The Name Will Look On A Logo
How your name will work with a logo is important, it’s said that great logos are recognisable in a blink and this should be your aim. But is it a word based logo or more imagery, have this in mind when choosing the name as well as, color schemes and look.
Is The Name Able To Be Protected
Can you protect the name you choose as if it’s something that people think they can imitate or copy then they can profit from your hard work building up a reputable name and/or brand. First it’s important to check if the name has been taken, it’s easy to see if it has and if it’s been taken then either think again or check to see what it’s been used fro and where as if it’s being used in another area of the country and for a business that could never feasibly be confused for yours then you can even trademark a name that’s already being used.
Is The Name Memorable
How memorable the name is can be absolutely key. You don’t want the situation to occur where people are like, ‘I used this company, they were great but what were they called again?’ I’m sure we’ve all had that experience at some point. It’s also a good consideration to think about whether or not you want to include a slogan as well as the name as this can aid understanding of the company and even remembering it, think of Nike’s ‘Just Do It’ or McDonald’s ‘I’m Lovin It’ as great examples.
Can You Get A Web Domain For This Name
Is the web domain available? This can often be the stumbling point if you get a great name but can’t get a domain to match, it’s easy to search and find out if this is the case. You can always choose a web domain that is not the company name as well, if you sell iron rods, have iron-rods.com for example instead of the company name.