So you’ve decided to break through into the big bad world of entrepreneurship.
Great for you!
But now that you’ve made the decision, there are dozens of items that you’ll need to check off your list before you reap the rewards of all your hard work.
Although it’s not the most complicated task, one of the first things you need to do is choose a business name.
It seems easy enough, but there are a few things you’ll need to keep in mind before making your final decision.
Let’s take a look!
Do Some Research
Every country, county, city and municipality will have different laws that govern business names.
Therefore, the very first step in choosing your business name is to take the time to research your local legislation and how it might affect you and your business name.
Then, once you’ve done this, it’ll be time to put on your thinking cap to brainstorm your best options.
Avoid Copying Other Brands
It might seem obvious, but you don’t want to choose a business name that might get you in trouble down the road.
In most jurisdictions, a business name can be used by multiple entities so long as the name isn’t a registered trademark.
However, when it comes to successful businesses, you want your name to be as unique as possible.
In other words, if you’re selling athletic footwear, you’re going to want to avoid choosing a name like McShoes or anything along that same vein, which could lead to legal troubles later on.
Not to mention that consumers might think that your shoe company is a subsidiary of the McDonald’s Corporation.
Another essential tip for choosing a good business name is to make sure that your business name is catchy, memorable, and unique. In other words, you’ll want to get creative and use words that are related to the products or services that you plan on offering.
If we use the same example of selling shoes, you’ll want to use words, such as:
Then try combining in different creative ways that consumers can easily remember, giving them a good idea of what your brand is all about.
In other words, please keep it simple and to the point!
For instance, you might come up with something like The Athletic Feet Company.
Not only does this name let people know that your products have something to do with feet. It also lets them know that it’s related to athleticism, which gives a good indication of what type of products you’re offering.
Register Your Business Name
Once you’ve decided on a name, the next step will be to register your business name with your local authorities.
This step is the main difference between having a side-gig and running an actual business.
After registration, you can then move forward with creating your own branded logo and any other marketing materials that you’ll use to promote your business in the future. If you are operating on a budget try a free logo maker to design your own brand.
Choosing The Best Business Name
Although there’s much more that goes into creating a successful business, the process of choosing a good, memorable business name should not be overlooked.
In the future, this name is the way people will first hear about your brand.
Like your own name, your business name will be a massive part of your business identity.
So take the time to do a bit of research, get creative, and find a name that won’t only suit your desires but will also be in harmony with your current and future business plans!
Don’t Leave Your Success To Chance
Lastly, when it comes to building the premier accounting business be sure to consider the services available with Universal Accounting Center. From training, certification programs, coaching and support you can be in business for yourself but not by yourself.
by Bessie Stokes