Why Company Name is So Important?

A business company name is considered the soul of the business. People will have a first impression of your company by looking at your company’s name. So, choosing the right company name which most suits you are very important to get success. Furthermore, choosing a company name is also almost the first thing you do before registering and starting up a business. In this article, we will share some tips on choosing a suitable company name for you.

The Soul of Your Business

Reviewing the essence of your business is the greatest method to begin the process of naming your company. Take into account your mission statement, business plan, and unique selling proposition. Remember to consider your target audience and what you learned about them from your market research.

You may refer to the below questions to have a better mindset or direction to set a name for your business:
– What message do you want your company’s name to convey?
– What are your top priorities when it comes to your company’s name? Do you want it to be simple to say, different unique, and relevant to your products and services?
– When people see your company name, what do you want them to think and feel?
– What is your business structure, and will you use an abbreviation like Sdn. Bhd. in your name?
– What are the names of the competitions you’re competing in? What do you think of those company names and why?
– Is the length of a name important? If so, do you like a short or long name? 

Perform Brainstorming for Company Names

It’s time to get creative with your business name once you’ve decided what you want it to represent. The more creative and free-thinking you are at this stage, the more ideas you will develop and the more options you will have.

To come up with as many business name ideas as possible, hold a series of brainstorming sessions, some with you and others with a friend or partner. Keep the essence of your business in mind while brainstorming but allow your thoughts to flow freely. Brain dumping, list-making, mind mapping, and word association are all classic techniques to start a brainstorming session.

Give Some Time

It’s time to study and evaluate your results now that you’ve completed your brainstorming session(s) and have a list of possibilities. Remove any non-contenders from your list, sort comparable names, and mark the ones that immediately resonate with you. When identifying the good from the terrible names, keep the following in mind:

– Is your company’s name descriptive of what it does? While there are lots of business names that don’t indicate what they do, such as Google or Amazon, as a small business owner, it’s to your advantage to use a name that informs people what you’re about.
– Is it distinguishing you from your competitors?
– Is it simple to recall?
– Whether the name kept with the tone and branding of your company?
– You might not want a fun name if you have a serious business. 

Before you establish your shortlist of the finest possible business names, it’s crucial to allow your prejudices and biases reviewed while you go through your suggestions.

After you’ve narrowed down your list of possible business names, take a break, do something else, or sleep on it. Choosing a name for your company is an important decision since it will eventually become synonymous with your brand. Let your ideas ferment for a day or two, then come back to it and review them again. In many circumstances, you will return after a small break and immediately recognize which of your selections is the best. If none of the options feel right, repeat the brainstorming process all over again.

Check the Availability of the Company Names

Check to see if the name you want is available before you choose it. If the name is already in use, trademarked, or registered as a domain name, you should consider twice about adopting it twice.

If you plan to establish a website to showcase your company, products, and services, you should include a domain name search as part of your availability search. If your company name isn’t accessible as a domain, you can use an abbreviation, hyphens, or another top-level domain, like .net. However, you should think about how easy it will be for potential customers and clients to remember or type in the domain name to reach your website. You are exposed to the risk of losing customers to your competitors if they fail to utilize the hyphen or write in .com instead of .net. Domain names should ideally be brief and free of hyphens.