Naming your business isn’t something you do in 2 hours. If you’re in it for the long haul, you want your business to be both memorable and meaningful. You also want to make sure you’re not infringing on an already taken name. It’s very expensive from a branding and image perspective to have to go back and rename your company because you find out much too late that another company already has the same name, a similar logo, and is in the same industry that you are in.
What To Consider?
- Before you put the pen to paper to write out your business name, consider what it is you do. What does your company offer people? For example, if you’re a pizzeria, you might name your company “Pizza Hut.” That gives your potential customers some kind of idea of what you do. “Bob’s Consulting” is a little vague, but “Bob’s Financial Consulting” is much clearer. “Bank of America” tells you exactly what kind of company it is and leaves you with the impression that it’s very large.
- When naming your company, also try to incorporate a slogan that offers a benefit to your target customers. For example, when Dominos was having trouble differentiating itself, it settled on its strong point: the ability to deliver pizza very fast. It came up with its now famous slogan “You get fresh, hot pizza delivered to your door in 30 minutes or less or it’s free.”
- Even when you have a good grasp on what you do, and what your strongest benefit to your market is, you can’t actually name your company yet. At least, you can’t put anything written in stone. You should search out your competition to make sure the name you want isn’t already taken.
- Google and Google+ have become huge. The search engine giant catalogs the entire Internet. Doing a simple search for your desired name will usually tell you whether the name is taken or not. Even if it’s not, your search isn’t done yet.
Conduct Facebook Search
- Many companies are now using Facebook. Your competitors might not be well-positions in the search engines so a simple way to search out whether your name is taken is to find them on Facebook. Facebook allows companies to set up a fan page. These fan pages will tell you the name, location, and other details about the company. From this, you can glean important information about your competitors and also avoid infringing on someone else’s trademark.
- Twitter.com has a search engine and millions of users. Companies use this medium to interact with current and potential customers. Use the search to find out whether your company name exists or not.
Conduct Linkedin Search
- LinkedIn is the largest professional network on the Internet. When Google, Facebook, and Twitter turn up nothing, LinkedIn is an excellent place to check. Use LinkedIn’s search feature. As you start to type, LinkedIn’s search box will start to display results automatically by default.
Now You’re Ready To Name Your Business!
- Assuming the coast is clear, and your name hasn’t been taken, hurry to your lawyer’s office and set up a corporation immediately. Your lawyer is also capable of performing a more advanced search to check state records to verify that your company name hasn’t already been used. Once the corporate papers are drawn up, you’re ready to roll.