If you are trying to launch a business, then you need to place your startup in a position to be successful. The sad reality is that the vast majority of startups are going to fail relatively soon after launch. In order to avoid falling victim to this statistic, it is important for you to think carefully about how to name your business. While it is a good idea to go about choosing a name for your business free of charge, it is also important to make sure that your business name works for you. This means avoiding a few common mistakes that business leaders make when they are choosing a name for your business free.
Choosing a Business Name That is Too General
One of the most common mistakes that people make when they are trying to name their business if they select a name that is too general. If your business name is too generic, then people are not going to understand what your company does. Remember that the name of your business should reflect the products and services that your company provides. If you go with a business name that tries to cover everything, you will simultaneously cover nothing. Potential consumers are not going to spend a lot of time trying to figure out what your company does. If they are not able to grasp this information in a few seconds, they are simply going to move on to someone else.
Choosing a Name That Limits the Growth of Your Company
While you do not want to select a name for your company that is too generic, you also do not want to limit your business growth. In some situations, professionals select a name for their company that pigeonholes them into a narrow area. For example, many companies attach a geographic label to their business in an effort to attract local customers. On the other hand, what happens when the company expands out of the local area? That local modifier might not work well for the business.
For example, in St. Louis, Panera Bread is actually known as St. Louis Bread Company. Outside of St. Louis, the company goes by the name of Panera Bread. This is how the company avoids being pigeonholed in a single geographic area. Be sure to avoid choosing a name for your company that limits its growth.
Choosing a Business Name with Weird Spellings of Simple Words
There are lots of people who try to be funky or creative and try to find strange ways to spell common words. Even though it is a good idea to bring some sort of creativity to the table, aiming for unusual spellings of simple words could get you in trouble.
When someone is going to look for the products and services that you provide, they are probably going to spell it correctly when they enter a search query into a search engine. Therefore, the search engine might end up overlooking your company because that is spelled incorrectly. As a result, unless you have a tremendous amount of time and money to build brand recognition surrounding unusual spellings of common words, you probably want to stick to the basics. That way, potential customers will have an easier time locating your company.
Choosing a Business Name That Is Too Long
You want to make sure that you generate repeat customers. In order to do this, you need to select a name for your company that is relatively easy to remember. The more words you add to the name of your business, the harder it is going to be for people to remember your company.
For example, if the name of your company is an entire sentence, there is a good chance that your customers are not going to remember every word that makes up the company name. As a result, they may have a hard time finding your company again, particularly if they are using a search engine. Even though it is okay to select a name for your business that is two or three words, try to avoid going much longer than that. Otherwise, your clients might have a hard time finding your business.
Avoid These Mistakes When Naming Your Business
These are just a few of the most common mistakes that business leaders make when they are trying to come up with a name for their company. Remember that there is never a second chance to make a first impression. Therefore, you need to make sure that your first impression is a good one. That starts with selecting the right name for your company. Do not hesitate to reach out to trained professionals for help naming your company. There are always experts who are willing to lend a helping hand to those in need.