[MINI-COURSE] How to Name Your Business
So now that you’ve decided to start a business, you have to call it something right?
What you name your business may be one of the single most important things you do for your business. It sets the tone for your branding, marketing, growth and . It can be tempting to go after a name that’s trendy or catchy. But in this lesson I want to share some tips to help you pick the right name, the first time!
I’ll share the most common mistakes business owners make in naming their businesses and what you can do to avoid them. I’ll give you one fool proof way to structure your business that will set it up for growth. We’ll also cover some strategies you can use to help narrow your focus and pick a name you can be proud!
Check out the video teaching below to get started!
Heres a quick recap:
1. Determine which type of business entity you’d like to form.
Get more information on how to do this over in my mini course on “Selecting a Business Entity”. View the mini course HERE.
2. Describe what you are naming.
Include the key features and characteristics of your product or service. Also, write down anything else that differentiates your product or service from your competitors.
3. Next write down your goals for the name.
Do you want your business name to describe your signature product or a key characteristic of that product? Should it relay a particular company image or connotation? Do you want your name to be more sophisticated or high end or maybe something that appeals to a broader range of consumers?
4. Keep your target market in mind as you’re doing this.
Who is your ideal customer that you are selling to? Who do you want the name to appeal to? What qualities would they find attractive? What would catch their attention?
Resist the urge to be overly cleaver when naming your business. You can confuse potential customers this way.
I know from personal experience that naming your business can be overwhelming because once you’ve done it, that’s it. And the process of re-naming your business after you are already up and going can be pain staking when you look at the costs of any printed material you already have and the fee’s that go into the legal aspect of this. So before you start a business naming brainstorming session, here are some things to remember.
Your business name needs to:
Be distinctive
Be memorable
Be easily spelled and pronounced
Suggest the products or services you offer
Distinguish you from your competitors
Now, I want to extend an invitation to you to join the Accelerate Circle™. This is my VIP list where I share business strategies + inspiration to help you grow in faith, life, love & business. As an added bonus, you’ll receive a FREE copy of my Quarterly Business Goals Planning Guide for signing up. Join HERE.
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What was your favorite takeaway from this mini-course?
Share your thoughts with me in the comment section below. Have questions or want to share advice you’ve learned on your business building journey? Drop ‘em below in the comments too!