15 TIPS FOR NAMING YOUR STARTUP BUSINESS (2) by Olayiwola Oladeinde
15 TIPS FOR NAMING YOUR STARTUP BUSINESS (2)
Written by Olayiwola Oladeinde
In the first part of this series, I shared five 'christening' rules every entrepreneurs should be guided by when naming their start ups. In this piece, I will be sharing 5 more rules.
Here we go...
6. Don’t pick a name that could be limiting as your business grows.
Picking a name that is too narrow may cause you problems down the road (especially when it comes to innovating, relocating or expanding your business).
Your business name should not limit your business to a particular product or a specific city, when you have plans to expand or diversify your offerings.
For example, if your business intends to sell clothes for different sexes but wants to begin with female wears, it will be better naming it 'Exquisite Wears'or 'Exquisite Clothings' rather than 'Exquisite Female Wears'.
If you name it Exquisite Female Wears and then you begin to start male clothings, people who don't know you sell such will not come to you because due to your business, they will assume you sell only female wears. You get the gist?
7. Think webmail.
Once you have determined a name you like, do a web search on the name. Is it already being used by someone else? Can it be registered as a domain?
More often than not, you will find that someone else is already using that business name. While that won’t be a total showstopper, it should give you pause. You just may need to totally change the name or make certain modifications to it.
8. Don't steal.
Don't copy names of other brands, especially well-known brands. It is wrong to do so. You may get away with it when you are not well known but the moment you become successful and known, you could have a law suit on your hands.
9. Get feedback on the name.
Come up with as much befitting names as you can and then run them by friends, family members, and trusted colleagues. Get feedback from your target audience as well. And make sure that the name doesn’t have any negative connotations.
10. Make sure you are personally happy with the name.
You as the business owner will have to live with the name for a long time, so make sure you are happy with it and believe it will resonate with your customers. That is why it is important that you take the time to get it right from the start.
Read more: https://frillxtra.com/Business/details/221/TIPS-FOR-NAMING-YOUR-STARTUP-BUSINESS-by-Olayiwola-Oladeinde
ABOUT THE AUTHOR.
Olayiwola Oladeinde is a writer, trainer and coach. Through his writings and speeches, he inspires, guides and empowers individuals to become better versions of themselves and create wealth from doing the things they are good at and enjoy doing.