How networking can help your business

Choosing a name for a new business is one of the first big decisions the founders have to make. What’s in a name? A lot, if you want your start-up to have a chance of success. Here are some tips.

Don’t use zany names, acronyms or made up words - In the world of information overload, your business name needs to be memorable and meaningful in years to come, even after trends change. Most new companies do not have the resources of the likes of Google or Twitter to make their made-up trademark a well-known brand.

Tricky spellings – In today’s world, your clients expect to be able to find you online, and your competitors will quickly learn to route all misspellings of your business name to their sites. Use conventional spelling or phonetic spelling rather than puns or double entendres.

Think Global – Do not choose a name that would cause a faux pas in another country. Even if you aren’t thinking about going international, remember that all websites on the internet are visible around the world.

Don’t narrow your focus too much – Choosing a name that focuses solely on what your business does now does not allow for growth, and a big rebrand at a later date could prove costly. Avoid choosing a name with a specific geographic location or product that wouldn’t allow you to expand your product line or branch out to new locations.

Check availability on the internet and social media – Before you decide on a company name, you need to make sure you can secure the domain name for your website and that the name is available on all the social media sites that your clients might use.

Survey your potential customers – Once you have decided on a shortlist of names, it is important to find out what connotations they conjure when they are first heard. Don’t limit your survey to friends and family who know you and what you do, be sure to try them out on your target market too. Ask them which name they gravitate towards, which best suits the business, and which they find more memorable.