While there are countless things to consider when starting a business, for most people, the most important step is naming the business. Interestingly, this is one of the most underestimated stages of starting a business. If you are not careful, you may end up parting with a lot of cash and wasting plenty of time, resources which are scarce when starting a business. Fortunately, there is a great platform for business people and entrepreneurs to find ideas and check them immediately for their start up names: NameRobot. Before you get started, you need to put some things into consideration.
Factors to consider
When looking for a suitable name for your start up business, regardless of its line of operation, it is more likely to survive in a competitive market with a catchy name. Some of the factors to consider include:
- The nature of your business.
- The probability of changing the company name in case of change of trade, merger with another company, or in case of a conflict with trademark law.
- Whether to name it after your own name.
- Whether to look for a fantasy name.
Of course, anyone looking to start a business will look for a unique, expressive and catchy name, such as Chronoseum for a company dealing with top quality watches. While the owner could just opt to name the business Richard Knight watches, the name might not stick so much if Mr. Richard is not a renowned watch expert. A barber looking to attract new customers could decide to name his shop The hairport, which is both catchy and memorable. Generally, the sky is the limit as long as fantasy names are concerned.
On the other hand, if you are starting a business and your trade is relatively familiar with the people in your local area, then it makes more sense to name your business after your own name, like Dr. Richard Knight: Business consultant. While most people opt for this solution as it is the easiest and less stressful approach, there is no problem with it. Of course, just make sure that your business name does not correspond with that of another person in your line of work. When naming a start up business, it is imperative that it does not violate any trademark rights or existing business names.
Finding a Business name with Naming Tool
Using Naming Tool can help you come up with a creative name for your business. However, the best approach is to look for keywords that sound right and then combine and alter them. You will find a whole lot of practical naming tools on the website, with numerous synonyms, rhymes, language tools and so much more. If you are impressed with the generated ideas, you can then proceed to the advanced free based name generators. At the click of a mouse, these generators will combine your keywords, change them, and then suggest fantasy names or naming ideas for your company.
It is also important to consider any legal implications when choosing a business name. Regardless of the type of name you choose for your company, it is highly recommended to carry out in-depth online research, and have both a Domain and a Trademark check. It is always safer not to take any unnecessary risks with the law, especially when it comes to fantasy names.
For a quick check, look for your desired name through any search engine with at least one variation. For example, if you are a Canadian gardener and want to name your business Veggiepots (veggie pots), you just do a simple Google search with that name. If there area several existing shops with this name, you will either have to add something, tweak the name, or get rid of it altogether.
On the other hand, if the internet results show no single business registered under this name, proceed to the Domain check. If there are already several domains with this name in existence, you need to determine whether these are your competitors or business owners from a different branch of trade. NameRobot can find this out real fast as it has the ability to search various domain extensions with your name at a single click.
Renaming an existing company
Certain circumstances may warrant the need to rename an existing business, such as merger with another organization or when the company expands its business range. When this happens, you may want to consider:
- Your current employees
- Existing customers
- Your general suppliers
For the sake of the business survival, the above named associates need to get used to the new name. For this reason, it is important to communicate probable reasons for the need to change the name of your company. While you can use NameRobot to rename your existing business, no matter how suitable, catchy or even original it may sound, people can render it unnecessary and brush the company aside.
The safest way to retain your existing associates is to include elements of the two companies into the new name, whether due to a merger or any other reason.