2014
08.20

We all know that the business world is competitive and it is only getting more so as every day around the world 6,000 new businesses come on line competing for the same customers that all the existing ones are already chasing.

There are many points that should be kept in mind when naming a business which is one reason why holding a naming contest is usually a better option than thinking up a name yourself.  Your business name must be engaging and compelling but must also be one that is easy to say and looks good on paper or on-screen.  It must be distinctive and preferably available for trademarking and all of this has to be done in just a few short syllables.

Characteristics of a Great Business Name

If it sounds impossible, don’t worry, we are experts when it comes to helping you name your business.

  • Your business name isn’t just important to you but to your target market.  Your business name has to connect with them if you are going to succeed.
  • Think ahead, it’s not just your experience that counts, it’s where you are going and how you are going to help your customers in the future.  It’s called vision.
  • Nearly all businesses now make growing use of the internet.  When deciding on your business name, it really is worth checking that the company domain name is available as a .com  or if you operate in the Great Britain or Canada as a .co.uk. or .ca   Online presence and visibility has never been more important.
  • These days, less is often more.  Forget clunky longwinded names.  If your business name is short and sweet then it will seem much more contemporary and help you connect with your target market.

When you pick your business name, remember it is the first impression that your customers will have of your company.  Sometimes though you may own a business and it sets all the wrong impressions too.

Every year, around 2,000 organizations change their name.  Sometimes this is because the marketplace is changing and the business wants to capitalize on new growth opportunities.  Sometimes it is because a company has a major new product or service whilst at other times the owners simply realize that their existing business name doesn’t work.

If any of these sound familiar to you, then holding a business naming competition is just as easy and offers just as many advantages as to those starting up their own business.

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