This week…3 more tips to choosing your business name.

Give It Time

Now that you have conducted your brainstorming session(s) and have a long list of possibilities, it’s time to review and analyse your results. Go through your list and remove any non-contenders, sort similar names and mark the names that immediately resonate with you. This step should take a few different sessions. It’s important to let your ideas, preconceptions and biases settle before you create your shortlist of best possible business names.

 

When you have your shortlist of potential business names, walk away, do something else or sleep on it. Choosing a name for your business is a big decision and the final result will stay with you for a very long time. Let your ideas percolate for a day or two, then come back to it and review again. In many cases, after a brief hiatus, you will return and instantly know which of your options is the right business name.  And if none of the possibilities feel right, start your brainstorming process again.

  1. Check Availability

Before you officially decide on your business name, you’ll want to check to make sure it’s not already is use.  Searches are done at the Ministry of Legal Affairs.    Part of your search should include Google and other search engines for a a domain name search, if you intend to have a website to promote your company, products and services. If your business name is not available as a domain, you may need to use an abbreviation, hyphens, or an alternate top level domain (such as .net). Or, you may want to move down your list of possibilities to the next name if there is a better domain name available.

  1. Register

If you are a sole trader or plan to have a limited liability company , a corporation or a limited partnership you will need to register your business with the Ministry of Legal Affairs.    Although it is not required, but you may also want to register your business name for a trademark.

 

Choosing a business name can be a lengthy process, but it is well worth the time you put in. Once you have chosen your business name, not only have you made a significant step toward officially launching your new venture, but you have also started branding your business and carving out your own niche in the small business world.

 

“A business that makes nothing but money is a poor business.” – Henry Ford