A good business name is a company’s trademark. It is the label by which you make transactions with your customers. Moreover, it has both legal and marketing factors which must be highly regarded. Choosing the exact word or words that will summarize your entire business into one great label could be very challenging. In fact, most small business owners settle with their second or third choices as their first options are always taken. There are times though when entrepreneurs pursue the company name they want despite legal risks – infringement of intellectual property rights – just to get a ride of the wide recognition that already comes with it.
In the legal standpoint, a label that is non-descriptive makes a good business name. This could be the exact opposite of what the marketing standpoint demands. Description of business name is crucial in making your audience understand the nature of your products or services. This goes to show labeling your company needs the best efforts from your advertising and legal teams. While you take into consideration the interest of your customers in mind, you must think of your company’s safety too.
Now, let us now go to some details. In your aim to acquire instant recall, do not fall into the trap of playing too much with the words. Yes, your business could be easily remembered with the funny label that you created. However, customers may get confused of the real deal behind your clever label. When choosing business names, ensure that your pick sounds professional enough to gain the confidence of your prospective clients.
There was an era when people became big fans of abbreviations. This helped entrepreneurs somehow to communicate with ease. This works well for big companies up to this date. But for small business, abbreviations may just work the other way around. More often than not, big companies have already existed for many years. Whether abbreviated or spelled out, no one could miss on their names and the brands they represent. Small business would need more opportunities to prove in order to reach that level of recognition.
Moving forward, stay away from including words like ‘enterprises’, ‘global’ and ‘international’ especially if your company is just starting. Such can take your focus off your objective of specializing in a single product line or service first. You can opt for a name change once you are capable of offering what these big words imply.
Although your small business is operating in the local market, never confine your company name to your geographical name. You can actually include the city where your store could be found. Along with the opportunity to be in the directory list of local businesses by city, you will reap search engine optimization benefits if you are keeping a website to reach your market.