Choosing a business name is a vital first step in bringing your business to life. Here’s how to choose one that brings success and growth.
Choosing a business name is one of the most important first steps when forming a business. It’s what gives shape and form to an otherwise nebulous concept.
The process for choosing the name has parallels with impending parenthood. Brainstorming, listing, discussing, and whittling down to the one that says everything you want it to say to someone. And it can make all the difference in your offspring’s chances in life…
It has to be unique, compelling, memorable. Read our guide before committing – a bit of forethought could save you significant time and money further down the line.
In an ideal world, a company with a strong product, service, or niche idea should expect to make a healthy profit.
However, it takes more than a good business idea to get across to customers that there is a legitimate benefit to using your business instead of your competitors.
Your business name is therefore essential because it’s:
- The first point of contact – the first thing that any potential buyer is going to notice is your business name, whether you operate a high-street store or website based business
- The initial appeal – you might have the best idea in the world but if people are looking elsewhere because your competition ‘looks’ more attractive then no-one will ever know. The key is making the initial appeal better with the best name
It’s essential that you strike the right tone with your business’ name. And more importantly, successful companies do not just have good names, they develop a strong brand identity.