There is a lot to consider when starting a new business and one of the most important parts of this decision making process is what to call your business. This can be tricky because there are so many different names to choose from and you don’t want to use the same name over again, nor do you want to change it every few years just because the market changes. So how do you choose the right name for your business?
First off you should think about what the business is actually all about, you don’t want to get into a name battle with someone else’s business that is just in the same line of business and isn’t as big, you want a name that you can stand behind. Think about what it is that makes you different from all of the other business out there, for example if you are selling clothes to teenagers then you wouldn’t want to name your business Nike’s. You will also want to make sure that the name is something that people will remember.
Next you need to think about what your customers will be able to relate to when they see your name. Think about the words that your customers will type into Google to find you. If they type “knitted sweaters” how would they get to know you better? A name that has been around for a while is much easier to remember. If you decide on something that is very popular it may sound cliche or it may sound silly but you need to keep it original to avoid confusing customers.
It is also a good idea to think about the industry that you are in. For instance if you are running an electronics store then you may want to call your business “Electronics Superstore.” It’s always a good idea to consider how your chosen name relates to your industry and how your customers will relate to it. You don’t want to go too mainstream and end up sounding like all the other stores out there but you don’t want to be left out too far either so keep it in the middle ground.
When you have chosen your name it is time to start thinking about your logo, this is the most important part of your business because it’s your brand. If you have a logo that represents your business well then people will feel comfortable letting their hair down in your shop and knowing that they can trust you to buy them the clothes that they need. You can also get very creative with the design of your logo but keep it simple, this will also help with customers understanding the name. Think about what colors and patterns you want to see on your logo, keep it simple yet eye-catching.