Summary
Steps to naming your first business.
Naming Your Business- Part 2
Are you a new entrepreneur just starting the journey of starting your own business? One of the most crucial decisions you’ll make is naming your first business.
Last week we talked about understanding the importance of your business name and some things to take into consideration when choosing your name.
As a small business coach, I understand the significance of this decision, so look at some more factors to consider and how to navigate this process effectively. I’ll share some real-life examples of how others chose their name, as well.
Tools to Aid Your Decision:
- Name Generators: Online tools like Shopify’s Business Name Generator or Namelix can spark creativity and suggest relevant names based on your input.
- Thesaurus and Dictionary: Explore synonyms, related terms, and word meanings to brainstorm alternative options.
- Social Media Search: Ensure the name you choose is available across major social media platforms to maintain consistency in your online presence.
Rachel Richofsky of Grainy Days Kitchen shared this: “Before we set our hearts on the new name, we researched if the name was trademarked or already being used in business. There were some Instagram accounts using the name but not within the same industry. I decided to add Kitchen to the end of my name because it would clear up any confusion between photography businesses and my own.”
When to Consider a Name Change:
Sometimes, despite careful consideration, a business name may not resonate as intended or face legal challenges. It might be time to consider a change if:
- Your business evolves and outgrows its original name.
- The name becomes associated with negative connotations.
- Legal issues arise due to trademark conflicts or brand confusion.
This was something that Yvonne Loera, owner of Shortie’s Preschool, had to deal with. She had originally wanted to name it after her 7-year-old daughter, Elyza. It turns out that her daughter found it embarrassing. In addition, people would think that Elyza was the owner (not the daughter). This resulted in a state licensing visit because someone thought she was falsely advertising her business. She got it straightened out but she knew it was time for a change.
Find out more with our Naming Your Business Guide at
https://rhondaloweconsulting.com/wp-content/uploads/2024/02/Naming-Your-Business-.pdf
Come back next week for Part 3 of Naming Your First Business.
