How to Chose the Right Business Name for a Business
Written by Alex Jane
Published on 10/5/2019 8:41:12 PM
Setting up a business is awesome but putting up the business with the right business name is greater and more awesome. Right Business Name does a lot in ensuring a realistic future of a business. We will be looking into the various methods at picking the right business name for a business and the advantages it can bring.
Choosing the right business name for a business is one of the first set of steps at marketing a business and registering it on the minds of the potential customers. Right business name tells everything about a business as well it advertises a business to the new clients and easily reminds the potential customers of the activities of a business. Good business name keep a business in the market till anytime unpredictably.
Now, let us look into the various methods of getting the right business name for our business. What is the area of specialization of the business?
The first thing to know in setting up a business with the right business name is to uncover the area of specialization of the business. This means what are the products or services that the business will be providing to the customers. It is better to always give a name that is rightly within the context of the business' area of specialization.
For instance, a business that manufactures Chairs, Tables, Dining and the likes will rightly be named XYZ Furniture or XYZ Interiors than XYZ Services or XYZ Products
. It is the best practice to always chose a name that introduces one's business to the potential customers before the customers even gain contact with the business representative. This builds confidence and reliability for a business.
Another crucial example is in choosing a business name that portrayed the area of specialization of the profession of a service. I mean, Corporate Lawyer should chose a name like XYZ Chambers, XYZ Legal Firm e.t.c instead of XYZ & Son Ltd
Targeting area of specialization of a business in the business name is similar to advertising the domain name of a business to the potential customers. Location
Aside area of specialization, geographical location is another factor that determines the name that will rightly fit a business. While some businesses are location-dependence other are not. However, either case has its influence on the marketing strategy of a business.
For instance, while the above business name will best be presented as XYZ International Interiors or XYZ International Furniture
if it supports international services than just naming it XYZ American Interiors or XYZ Chinese Furniture
which would be right name for local businesses that deal in America or China.
Ikeja Electricity Distribution Company is well explanatory to be an electric reseller company situated and cover areas under Ikeja axis. Should such company be a company that can supply other areas like London in United Kingdom, the name will always chase away potential customers of the company who is looking for the service but residing in London or anywhere out of Ikeja areas. Business Type
Last but not the least, business type is another very great factors to be considered in choosing the right business name for a business. When we talk business type, we talk about the cadre, level of operation of the business or category of the business depending on the number of people that owns the business.
For instance, business names with ltd, Inc. & Co e.t.c attract industrial respect than business names with none.
If the above factors are taken care of and strictly adhere to in choosing business name for a business, there is no doubt the business enjoys less stress in it's marketing and the business name will strongly influence and promote the business to more customers than it could be expected.