5 Top Mistakes That Entrepreneurs Should Avoid When Naming Their Businesses
You and your team may be adequately equipped with all the elements necessary to start a business – from a cool idea that solves a specific problem, to be highly motivated, and you see the timing is perfect to venture into this new opportunity.
However, you lack great name ideas for your business. This is where you can employ Namify and their business name generator services to offer unique and practical business names that can easily be branded. Namify is a great business name generator that also suggests a logo and open domain names to get you on the right track to building a great business. Nonetheless, you may wonder, what’s in a name?
What’s in a Business Name?
As an entrepreneur, your brand name means a lot given that it’s the first thing your customers, employees, and investors link to your business. You must carefully think it out and clearly mark it on the business. If you are aiming for longevity as an entrepreneur, let your business name stand out from the pack. The brand name is a foundational stone that strongly influences your mission statement, logo, and positioning in the market.
However, if you make a single mistake in your search for the perfect brand name, the rest of your business will also be misaligned, which can keep customers away, or make your new investment easily forgettable. Not to mention, if you end up using a similar name to another business, you could end up in court due to trademark infringement.
While it may seem daunting to generate a business name that’s distinct and precise to what you do, an effective business name generator can minimize your load by a great deal. To help you get on the right footing, read on to discover the top 5 mistakes that entrepreneurs make when picking a name for their business and how to avoid such slip-ups:
Choosing a Name that’s too Hard to Hear or Say
Some entrepreneurs end up choosing difficult brand names. If you choose a name that’s too difficult to say or spell, it’ll easily be forgotten by your potential audience leading to loss of business. Also, forego words with consonants that can easily be mistaken for the other and stick to words that are easy to spell, pronounce, and hear.
Selecting a Name that’s too Similar to Your Competition
You may find yourself overly fixated on a particular name to realize that it may be linked to another business. You need to realize the power and influence that comes with brand recognition and opt for a creative and strategic name that sets you apart from the crowd, while aptly summarizing what the business is about. There’s also a need to avoid any legal battles due to trademark issues.
Picking a Name that Limits Business Growth
As stated earlier, if you are aiming for longevity, pick a name that stays relevant for a long time. Catchy phrases can work for a short time, however, they are often overused and become annoying over time. Unlock your creativity and select a name that will stand the test of time.
Using a Long Business Name
While your brand name should be made up of words that are memorable and easy to say, also make it short enough to display on a sign, fit in a business card, or your website. If the name is too long and your customer can’t remember it, they will simply find the product from someone else since there is other.