TRUiC guide: how to pick your business nameJuly 10, 2020
Choosing a name for your business is one of the hardest parts of actually forming your business. So here we’ve put together a guide, with tips and resources for you to pick your business name.
Use a business name generator
Often when starting off on a business, you can get writer’s block. There are so many things you have to consider – it needs to fit legal requirements, be catchy and also let any potential customers know what your business is all about, in a well-summarised way, while not sounding too similar to some of the names your rivals in the industry have, to stand apart.
Thinking about ALL of this can take a lot of time and is stressful. What a business generator does is aid you by coming up with some names for you. You enter keywords, and they come up with hundreds of different names straight away. Of course, you do not have to use these names, and you may even think there are none on the site that you like. Business name generators are just a great way for you to start off your brainstorming, giving you ideas and inspiring you.
TRUiC actually has a great company name generator that allows you to refine your search too by selecting an industry or the state you’re doing business in. Visit their site for more.
Pick your business structure first
All too often small business owners pick out a name and then realise there is something in it that doesn’t fit the requirements of the business structure they later choose. For instance, if your business is an LLC, one of the requirements will be to have the words ‘limited liability company’ or some abbreviation of this as part of your name. That’s why it’s very, very important to decide beforehand! It saves you all the stress of having to pick a new name when you’ve taken so much time to pick one already.
Do a Secretary of State search
You can’t have the same name as another business in your state. So, you should do a search of the Secretary of State’s records in order to confirm your name isn’t taken by somebody else, or similar to a business that’s already registered, because you want to stand out. You can use a corporate lawyer to help you conduct this kind of search.
Check for a domain name
Another key feature you should have that is often missed out when picking a name is not checking for a domain name. You may not have thought about it, but it’s something to seriously consider. It’s a business investment. In this day and age, clients can reach you from everywhere, and it’s better for you if you have a strong online presence, or any presence online so that they can reach you.
You can check if your domain name is available on sites like GoDaddy. It’s a good idea to go with the ‘.com’ domain name rather than other alternatives like ‘.biz’ as customers tend to associate this with a more established business. Don’t be disappointed if someone already owns your desired .com name – lots of domain owners buy and are willing to sell their names for a price.
Pick a name that’s just the right amount of descriptive
You want to choose a name that has a perfect balance of everything, not one that is too vague or too meaningful. Generic names aren’t only boring but easy to forget too. They don’t stand out from other providers, so you end up being glossed over pretty fast.
As well as this, you need to take care to choose a name that isn’t too long or complicated, because those are easy to forget too. The name needs to appeal to your customers, by sounding pleasant, and conjuring up positive emotions, and being easy to pronounce and remember. It is okay to be a bit clever with the name, but don’t go too far.