Self Made: NASE's Blog

Blog With Us

Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

Creating a Great Business Name

Apr 13, 2022
Name Search

Inspiration for a good business name may represent many things. It might be a product term, like Spotify, or it could have a mysterious meaning, like Amazon. Your company's name counts a lot. It perfectly captures your brand's story, reassures customers about your service, and should be spectacular to target audiences. So it's no surprise that naming your firm can be challenging.

Things to consider when naming your company? 

Meaning

Decide what you want your company to say; it really should embody your goals.

Likeability

Choose a name that appeals to perhaps you and your marketing objectives; your product should be pertinent to them.

Relatability

Choose that name that your key demographic can resonate with on an intuitive level.

Avoid unusual spellings

Avoid using extraordinary transliteration; new forms and spellings of foreign words could easily make it more difficult to find you.

Be mindful of translations

If you choose a humorous or abstract name, double-check that which doesn't have a bad or unpleasant quotation in any other country.

Think of the future

Avoid names that may minimize your company's future scope or expansion. For instance, you may begin by producing outfits for the Lagos climatic condition. Avoid titles like 'Lagos Dresses,' as you may decide to start creating skirts, tops, and trousers for clients and the community as your company expands. You don't want to mislead your audience or purchasers if this happens.

Say no to long names

Avoid long, ambiguous names; you would rather have a simple name to spell, pronounce, and easily remember.

Be unique

Choose a name that seems to be genuinely distinctive to you. Due to the nature of your business, you wouldn't want to set up a tiny business and then realize when it's time to scale up that there will be a company someplace with the contractual right to prevent you from using the name; imagine how much that can cost you.

Visualize it

Consider how your name will appear/sound in print, radio, and television advertisements. A good marketing name may rapidly attract the attention your company requires. Nevertheless, choosing the wrong trademark can be devastating, ranging from lost investment possibilities to proceedings.

Conclusion

A product's name is what distinguishes it from the competition. When marketers consider implementing the brand extension method, a strong brand name provides customers with remember and positive reviews.

The opinions expressed in our published works are those of the author(s) and do not necessarily reflect the opinions of the National Association for the Self-Employed or its members.

Courtesy of NASE.org
https://www.nase.org/business-help/self-made-nase-blog/self-made/2022/04/13/creating-a-great-business-name