Opening a Business: Determining a name
For the next few weeks I will be talking about different aspects of starting a business. While today’s post will be lots of text I hope this post helps you if you want to create your own business.
For many people this can either be the easiest part of starting your own business or the hardest part. If you already have an idea for know what your business will be doing then it makes figuring out a name a little bit easier. If you know you want to own your own business but have no idea what your business is going to do then you need to start there first.
Once you know exactly what your business will be doing then its time to develop a name. Your business name should have something to do with the goods or services your will be providing. You don’t want to name your business with a name where people don’t know what you do or think you do one thing when in fact you don’t. For example PhotoPlanning Services does photography, videography, and event planning. The companies name is Photo for photography, Planning for Event Planning, Services because we offer photo and planning services. Another example is taco bell what do they sell tacos. Now an example of a place that makes no sense is (made up example) John Does Pros. Now when you hear John Does Pros you then think of a list of questions: what do they do, are they legit, what are they pros of, etc? Sometimes your company’s name can hinder you as you try to market it.
Now that you have some options the biggest thing you have to do is make sure its not already taken. If someone else has the same name as you then you could find yourself in legal trouble down the road and you don’t want that. You also don’t want your name confused with another business.
So now that you have your name and it is legal start the next step which is marketing.
I will post more on the blog next week about Marketing your company.