Making the best possible choice from your business name options requires a little more than smart thinking and some clever wordplay. As soon as your business name is unleashed into the public domain, it will create a distinct first impression that could literally make the difference between being a roaring success, or becoming just another statistic in the graveyard of broken dreams. Your preferred name must offer a clear representation of the services you provide and instantly spring to mind whenever those services are being considered.
Making a Business Name Memorable
Although it might seem like an obvious choice to go with a generic business name that provides an accurate portrayal of the products and services you provide, there is every chance that your more creative competitors will seize the imaginations of your prospects if you aren’t the first name on their lips. You don’t have to be outlandishly witty to create a memorable business name. There’s nothing particularly imaginative about Apple, for example, but the brand is one of the biggest is the world. Once you have found the perfect choice, don’t forget to register your business name as well.
Let Your Business Name Grow
Starting out as The Victoria Kitchen Fitting Company will make you marketable in Melbourne but what happens when your business identifies a potential market north of the border and wants to move into New South Wales? Will the locals in Sydney really want to pass over work to tradesmen from another area? Your business name has to be able to grow in line with your business itself and if you have long-term plans to expand, it’s probably a good idea to avoid restricting that growth with a business name that ties you down to a single geographical location.
Harnessing the Internet
When you register a business in Australia, you will be assigned a unique 11-digit Australian Business Number. As well as carrying a range of key benefits, your ABN will allow you to purchase .au domain names. If you are considering using the Internet as a form of trading or attracting customers, you’ll need to consider a business name where the relevant domain is still available. Always check for the availability of your preferred name in advance to avoid the risk of having to make inconvenient business name changes later on.
Building a Brand
There are certain words and phrases that evoke emotions in your prospects and if you can tap into these emotions, the chances are that you are already onto a winner. However, there are other words that can devalue your products and services just as easily. Try to avoid the use of words such as ‘cheap’ or ‘bargain’. Nobody values products that are cheap including your potential customers.
Always look to words that give your business name something extra. Words like ‘premier’, ‘premium’, or ‘quality’ are much more appealing. If you had a choice of purchasing a vehicle from either ‘Ted’s Quality Cars’ or Bill’s Cheap Autos’, where would you be inclined to take your money?