11b, Reverend Ogunbiyi Street, GRA, Ikeja, Lagos

CHOOSING A BUSINESS NAME

Choosing a good business name is very important if it’s going to be successful and it’s key to differentiating you from your competitors. Customers associate a business name with the value it provides them.

One of the most important and potentially challenging steps of starting a business is choosing a business name. For some, choosing a business name is the first step tackled because it’s simple, quick and obvious to the business owner. For others, it’s a struggle to identify a business name that truly encompasses the business and everything it stands for.

But most importantly, you can’t have a business without a business name!

HOW TO CHOOSE A NAME FOR YOUR BUSINESS
As discussed above, the main purpose of a name should be to communicate what services you offer while being easy to remember. Go for a name that is unique name to you. Depending on what’s relevant to your business, you might want to do a business name search, simple web search, social media search to see if the name is available for use on these platforms.
Here are a few useful tips to keep in mind:
  1. Be descriptive but not too general or Vague:

    Don’t choose a name that is too vague or too meaningful. Generic names like Tobi Printing Services, is not only boring but also not easy to remember. Moreover, it doesn’t stand out from other providers.

  2. Keep it Simple: 

    Don’t choose a name that is too long or complicated. Remember that your business name needs to be appealing to your customers. It should sound pleasant, familiar and conjure up positive emotions. It also needs to be easy to pronounce and remember.

  3. Avoid using your own Name:

    Unless you are an established brand, avoid using your own name. Your name doesn’t communicate anything about your business and won’t mean much to potential customers. This may even cause problems if you ever want to sell your business in future or even wish to expand.

  4. Visualize the Name:

    Try to visualize what your name will look/sound like in various adverts, that is, printing, radio and television. A good business name can quickly get you the right attention your business requires. If you are just starting a business, you should consciously pick a business name because repairing a wrong business name might have to involve branding which costs money and a very good expert at branding.

  5. Thinking of the Future:

    Avoid names that ca restrict the scope or expansion of your business int he future. For example, you might start out selling shirts, avoid names like Top shirts’ because as you grow and expand, you might decide to start selling skirts, foot wears, trousers for people all over the world, and you do not want to confuse your audience/customers.

 

Choosing a name can be challenging when you’re setting out to start a business, but not something to agonize over! Remember to get opinions and ideas from friends, family or even potential customers. It’s always a good idea to get a few different points of view.

A business name is only your first step towards building a brand. Though it’ll give your business a good first impression, it’s up to you to meet the customer expectations and bring your business to success.

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