5 Tips For Creating Your Business Name
I get it.
You have a brilliant idea for an online e-commerce store and you are already searching for suppliers, learning about Facebook ads, and building out the store. Wait! Back up for a second.
What are you going to call the store?
An online business name should be an integral part of the planning. Don’t skip over this major detail.
In this article you’ll going to learn the 5 Tips For Creating Your Business Name which I follow.
Before you slap a quick name on the store, consider that its NOT just a name.
Table of contents
1. First Impressions
If you are questioning the importance of first impressions, look no further than Malcolm Gladwell’s powerful book, Blink. Gladwell refers to initial judgments as “thin slicing” and contends that our initial reactions are pretty accurate. Behavioural economist, Dan Ariely, argues that first impressions can’t be trusted, but nevertheless, “anchor” us, making it difficult to change our initial belief about someone or something.
Your business sends a first impression. Consider carefully the type of first impression your business will make on your target market. You may not get another chance.
2. Your Business Brand
Before a prospective customer even enters your store, they will see your online site, either in an ad or in the website domain. The name they see is a large part of what they will identify as your brand. The goal for an established business is brand recognition, which includes, color palette, logo, tagline, etc.
Selecting the perfect name is the foundation for success. You want your business name to be sticky and send the perfect message. Does the name sound good when spoken aloud? Is it memorable? Are you sending the right message with your business name?
3. Your Legal Name
Starting a business takes hard work, financial investment, and personal sacrifice. Hopefully you are in it for the long haul. And if you are a true entrepreneur, one business idea will likely lead to many more.
Rather than start a new business entity every time you have a new idea, choose a business name that can serve as the legal entity for future business endeavors. You may decide that you want to change the product offerings of your store. Having a business name that is flexible enough to include additional products or services in the future is advisable.
Before deciding on a business name, make sure that you will be able to trademark the name. No one wants to brand and build a business and then have to fight for it in court.
4. Part of Your URL
While it isn’t necessary to limit your domain name to your business name, its a good idea to include your business name within your domain.
For example, if your business name is TalkMonkey (made up name…use it if you want) and you want to create an online store to sell phone products, your domain name could be www.shoptalkmonkey.com. If you decide to create a communications app in the future, that domain can be www.talkmonkeyapp.com. You get the idea. Because you want your business name to be included in your domain name, make sure your business name isn’t too long.
You would hate for someone to search for your business and land on someone else’s business, right? That is why extensive business name research is imperative. Don’t simply add a word to an existing business name because the one you want is taken. Take your time and create the perfect and original name for you and your products.
Bonus Tip: Purchase multiple domain names containing your business name, misspellings of your business name, and relevant keywords and redirect them to your primary website for further online reach. 5 Tips For Creating Your Business Name
5. A Piece of Your Identity
If someone would have told me twelve years ago when I started my first online business that my business name, WHEELZ, would be my license plate, my nickname, and the business that contains several lucrative ventures, I would have laughed out loud. I had no idea at that starting point that my business name would become so intertwined with who I am, as an individual.
We don’t think about Mark Zuckerberg without thinking about Facebook. We don’t think about Virgin without thinking about Richard Branson. Make sure that you are comfortable with your business name becoming synonymous for your own personal name. If you play your cards right, your business name and personal name will become very closely associated.
Remember that many things about your business will change, but the name will exist for the entirety of your company’s lifespan. Make it count. There is not a shortage of great business names. The only limitation is your creativity.
If you need some help researching and deciding on a name, check out the Shopify Business Name Generator.