Choosing and registering a good Business name for your business is very important if you are just starting a new business.
Thinking of a good business name and also registering it is one of the most important part you must wisely take care of. To some business owner, it’s quite simple for them to come up with a nice and attractive business name while other people finds it tedious because a business name will tell the audience/customers/clients about what the business really renders and what it stands for.
If you are running a computer gadgets’ business and you came up with a confusing name like G-worldwide Nigeria Limited or Omega Views Arena etc., you are not going to meet your target because, those two business names seems to target Entertainment Company and A relaxation centre respectively.
But, what if you simply choose “Your-Name Computer Resources Limited” or simply a name that is not confusing and common.
I’m not telling you that that is the best way to choose a business name but what am trying to say in essence is that the business name you are about to choose should be unique (free from infringement of any sorts), be understandable and should say something to a new customer or client even if he/she doesn’t know anything about your business initially.
Here in this article, am going to tell you the easiest ways to choose and register a good business name for your business.
Without wasting any time, let go into the business.
How to Choose And Register A Good Business Name for Your Brand – 5 Complete Steps
*.1 ==> Think About Your Initial Business Idea(s)
Do you remember that after thinking and determination about starting a business, you came up with business idea(s) right?
If you don’t know what business idea really mean, click here to read more about it.
During the time of ideas’ inspirations, am sure you would have gotten a solid foundation for your business thought, you might still be trying to choose between some alternative ideas but, your options are also the same.
This is what I mean, your initial business ideas may be Starting a Poultry Farming Business or running a cocoa farming business or operating on pepper, spices and recipes farming business etc. But here, your business ideas’ solid foundation is Farming Business because all those business ideas are still under farming business.
so, how you choose a business name considering your business ideas or foundation?
According to The Balance, the best way to do this successfully is to answer the guidelines questions below.
But, I will answer them based on my own example. According to the illustration I gave about, I will like to start a poultry farming business. So let go;
(a) Ques: What message do you want to portray through your business name?
– AnsPoultry Farming
(b) Que: What are your biggest priorities for your business name? Do you want it to be easy to pronounce, different and unique, directly related to your products and services, etc.?
– Ans: Yes
(c) Ques: What do you want people to think and feel when they see your business name?
– Ans: Understand that I deal with poultry business like rearing and selling of livestock.
(d) Ques: What is your business structure and will your business name use a related abbreviation, such as Inc. or LLC?
– Ans My business structure is farming and YES, I like to add a related abbreviations such as Nig. Ltd which stands for Nigeria Limited because I’m targeting only Nigeria Market.
• LLC means Limited Liability Company
• Inc. Means Incorporation – For big companies that deal with more than one product or service. For example, Microsoft Inc.
(e) Ques:: Does the length of the name matter? If so, do you want a short name or a longer name?
– Ans: Length of the name matter to me because I want a business name that people can memorise at a glance… So, I prefers short business name.
(f) Ques: Do you Want Either Your Own Name or Alias to Appear in the business name? Or do you prefer Any Other Names like name that doesn’t exit?
– Ans: I prefer to use either my name or Alias but since my names are too long for my business name likeness, I will choose to use my Alias instead.
Have you see how I got a business name for my business with ease? So finally according to the questions and my answers above, my business name is My Alias + Poultry Farms + Nig. Ltd which is basically Stephen Olgade Poultry Farms Nig. Limited or Olgade Poultry Farms Nig. ltd.
You can also do well with choosing a good business name if you following just this step but, let move on to other ways you can choose a good business name.
*.2 ==> Review the Business Name with Friends/Family And Further Rethink Creatively
After getting your preferred business name, don’t think you have made it. You need to test other people’s view, criticism or support on it because, you are not going to be patronising your own business, other people will.
So, organise a survey by frontal and subtle methods.
• Frontal Survey of Choosing Business Name: This is a “must-do” method of survey. You need to know how people feel, think and reasons about the business name you are about to choose permanently.
The word “Frontal” means to face or face-to-face.
Ask your friends and family members about what they think or what they will advise on the name you have chosen.
Also, ask them to suggest you a name that match your business idea and make sure you jot everything down.
• Subtle Survey of Choosing Business Name
This is indirect method of getting to know people’s view about your chosen business name.
You don’t need to let them know about your plan or business idea or more preferably, do the survey on social media and hide under anonymous surveyor.
Note: You will do the subtle method anonymously while you will do the frontal method by face-to-face or oral interactions.
*.3 ==> Calculations & Evaluation
After getting people’s view on the business name, rethink creatively maybe you can still go for it or change it.
Calculate how many people support the business name and how many people oppose it, if the amount of supporter is higher than amount of opposer, go for the business name but, if opposer are higher than the supporters, get another business name.
Note that, to choose a good business name, people’s view must be respected. Gladly, people may not even oppose your chosen business name once it is unique and doesn’t violate public opinion.
After getting your final business name, go back to the people for final survey on the changed business name and, if they go with the new business name, congratulations but if they don’t support it any, start another survey again.
*.4 ==> Check out for Trademark Infringements And Overall Business Name Availability
What I mean by trademark infringement is that, taking other people’s registered business name. For example, nobody can choose “Facebook”, “Microsoft” or “Airtel” as his/her business name. Anybody who try this have violate the law guiding trademarked business name and such person will be prosecuted.
For you to avoid prosecution pertaining to choosing a business name, you need to run different searches on the name you have chosen. Go to search engines like Google, Bing, Yahoo etc to check maybe somebody else is using the name.
If you see that somebody is using the name, check maybe that person have registered it, if the name hasn’t been registered, be SMART and register it immediately before anybody else do.
To be certain maybe the business name has not been register, visit any of your country’s government agency that is responsible for registering of business name to confirm.
For example we have Nigerian Corporate Affairs Commission (CAC) which is responsible for registering of business name in Nigeria.
For worldwide confirmation, search the federal database of the United State Patent and Trademark Office, Trademark Electronic Search System (Tess).
Check for Website Domain Name Availability before Registering A Business Name
Your business must have a space on the internet, that is Website. You must check maybe you can get a domain name for your business.
But advisably, dot Ng (.ng) or dot com dot Ng (.com.ng) are very good domain name if you are targeting Nigeria Market & traffic.
*.5 ==> Own it, Register The Business Name Once and for All
After passing through those four steps above-mentioned, you are now at the last junction to own the business name for ever.
How Can I Register my Business Name?
This is a wise question if you are also thinking about it, to register your business name is easy as long as you accept to spend some bucks.
To register your business name, go state authority in your country or use the internet to do it with your loaded MasterCard beside your laptop or mobile phone.
If you are in Nigeria, I got this well-detailed article for you about how to register a business name in Nigeria with Corporate Affairs Commission (CAC) using either offline or Online method. [click here to READ]
Wrapping Up: Choosing & Registering A Good Business Name
Does the process of choosing a business name tedious? Yes, it should be.
A simplified adage says what is what doing, is worth doing well.
Once you have chosen a good business name and have got it registered, you are now a step closer into building a successful business niche for yourself and you are branding your business officially.
Do you have any question? Let me know through the comment box below and, don’t forget to share this with your friends!