This article is contributed by Nadine Ryan.
There is a lot in a name and choosing one is an important undertaking when you form a company. Some find it very easy to underestimate the power and effect of a name. They can be instrumental in the making or breaking of a company. The name may not alter your business model or how you work but it is still incredibly important. The name is the beginning of your brand image and it will be the first thing you say when telling others about your company.
You should give yourself a fair amount of time when trying to decide on your name. Take some time to mull it over. There’s no need to rush and pick the first thing that sounds good – after a few weeks you may have changed your mind! Be patient and sensible and you’ll be sure to find a name that’s perfect for your company. There are plenty of options and ideas to use to help find a name, so be sure to do your research thoroughly.
An abstract name can often be a good start. Try to find a word that has little connotations to the average consumer and then make the word your own. It’s like starting with a blank canvas where you can create your own image for the word with the actions of your business.
You still have to be careful though. This sort of naming technique is not suitable for all types of business. Although it worked fantastically for Google, it probably wouldn’t be as effective for a local plumbing business. In that case, a more descriptive name is always going to be better. You have to consider how people will find out about your business. If someone is looking for a plumber in the Yellow Pages, they are not going to be drawn to a word they’ve never heard of and will probably just skip over it.
You also need to give consideration to Companies House guidelines on names. Although most are fairly obvious, you don’t want to spend weeks coming up with the perfect name only to discover you can’t use it. The Companies House website contains all the guidelines, so give them a read before you properly get into the naming process. It also gives you a list of words that you cannot use or need to get permission to use. This usually include words that may suggest the company has something to do with a government department or public body, so be sure to check early on.
You always have to be able to throw away names that you really like. You may come up with a name that is seemingly perfect but ends up doing damage to the company formation. Try not to get to caught up with this and just find another name. Although at times it may seem like you’re spending too much effort on a name, you’ll be glad in the long run when you get the right one.
Author Bio: Nadine Ryan writes about different subjects such as wedding venues, London orthodontists and Crunch. For more information about Crunch visit http://www.crunch.co.uk
Image Credit: Courtesy of catchwordbranding.com