Summary: Choosing a name for your startup business might seem like an easy task. However, the reality is quite contrasting which leads to multiple mistakes.
What`s in a name? A lot! Especially, when you are planning to come up with your startup in the market. Choosing your startup business`s name is one of the most important decisions that you will ever make, as it sets the tone for all your future branding initiatives.
Your business name creates the first impression with potential investors and customers and plays a crucial role in the business world. Hence, it is a decision that every entrepreneur should not take lightly. Once you decide on a name for your business, it can`t be changed easily post your legal paperwork. However, it is much easier to choose the correct name from the get-go.
Here are three top mistakes entrepreneurs make while naming their business and how to avoid those errors:
1. Picking a Difficult Name
Whether it is difficult to pronounce or write, picking a fancy name for your business is something that entrepreneurs should avoid. A tricky name is not only hard to remember for you, but also your consumers. Difficult metaphors, your customers won`t understand without explanation. And hence, it should be avoided.
If you want you can make a brand new word for your business name. Select carefully, and be ready to spend more time on advertising.
2. Selecting an Unavailable Name
Many entrepreneurs pick a business name only to find that the name is unavailable in the very end. To avoid disappointment and trademark issues related to your preferred choice of name, you can check the availability of the name online on a government`s website. Keep the availability of the related domain names as well while shortlisting the name for your small startup business.
3. Choosing a Name that is Too Simple
Sometimes to keep a general name for the public to remember, entrepreneurs often go for a very local business name. Avoid it at all costs. While picking a local name can help to boost your search ratings and generate leads, it can exclude potential customers who assume your business doesn’t apply to them.
When choosing a domain name for your business, always pick “.com” rather than alternatives such as .net, .org, .biz, or other domain extensions. If you are thinking about the reason behind it then customers tend to associate a business website with the “.com” domain with a more established business.
Are you looking to find solutions for your burning problems? Get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions.
From finance to HR, Digital Marketing to IT & Sales, find creative solutions to prominent business problems easily with our problem solving courses. Click here to know how these courses will benefit you: https://www.badabusiness.com/psc