What’s in a name? Quite a lot, actually.
Naming your business is one of the most important decisions you will make in the start up of a new company.
The name you choose has to be a winner the first time, because there’s no going back to change the first impression that it makes. It sets the foundation for your company and what it stands for, so it is essential that you ultimately make a solid choice that will bring you success now and in the future.
Because the naming of your business is so important, there are some things you should keep in mind when ultimately deciding on a name:
1. Choose a unique name. Not only are they more memorable, they can portray the true essence of your company and what it stands for. Fun, humorous names are always great to consider for certain kinds of companies. It is possible to find a balance between a professionalism and uniqueness.
Some of the iconic business names found in Singapore are ToysRUs, FlipFlops, Sogurt, Koufu, SpringMaternity
2. Avoid using a location in your name. It limits the service area because there is a chance that people will mistakenly believe that you only provide service in that particular area. Locations in your company name will ultimately hinder sales in the future.
3. Make certain that you can trademark the name. This is especially important when you want to brand and build your business in the future. This can be a big money-making factor if your business becomes extremely successful. Your company name can become a household brand name if it is chosen correctly.
You can do a quick search if there are any trademarks registered in Singapore here: http://tmsearch.ipos.gov.sg/eTMSearch/eSearchOption.jsp
Search for trademarks registered in the USA here: http://tess2.uspto.gov/bin/gate.exe?f=tess&state=4004:uzxou2.1.1
4. Don’t come up with a forced name. Many companies simply attach a part of an adjective and a noun. Tech and Corp smashed together with “Ameri” is overused and boring. Giving yourself ample time to come up with a name is important so that you won’t resort to settling for excessive utilization.
5. Pay attention to alliteration. No one wants to get tongue-tied over mentioning your business or brand. Decide on a name that is easy to say for you, your clients, and advertisers.
6. Don’t use an overly obscure name. The last thing your clients want to do is have difficulty spelling and understanding your company name. You want your clients to remember your business name, not rack their brain to think of it or spell it.
7. Avoid using initials. They are boring, lackluster, and unmemorable. Stick to spelling out the words for a more professional effect.
What you will want to do is actually brainstorm for a couple of names which you wish to set as your business name and then get your friends & family’s opinion of the names.
What you’ll want to ask is:
1. Does the name convey what my business is about?
2. Does the name trigger your curiosity/interest?
3. What words/images came to your mind that associate with the name?
This is important as you will want to know what’s the first encounter with your business name like for a regular person, and whether it’s to your benefit.
So get started with picking a name for your business today!