Have you thought about a business name yet? Have you been kickin’ around any ideas?
Does the thought of naming your business freak you out? Or is this something you decided on years and years ago?
For many entrepreneurs, naming their business is incredibly stressful. I know because over the last four years I came up with four different business names and have changed all four.
Naming your business is a place of high risk, second only to deciding on your business idea.
When you name your business you’re actually BRANDING IT! You’re laying down the emotional, physical, spiritual, and psychological aspect of the business.
Knowing HOW to name your business is just as important as creating the name itself. It should be done with great care but as you may have noticed, especially online, naming a business has become somewhat of a joke!
In an attempt to be unique, people have taken to creating business names out of verbs, nouns, and adjectives that don’t actually fit together. It sends very confusing messages to the consumer. They’re not exactly sure that the business does and what services they provide.
Sometimes being too unique can put you right out of business!
In fact, according to “Entrepreneur Inc” website, “Being unique isn’t as savvy as developing a name that relays that you’re responsible, trustworthy, sincere, or caring.”
Having integrity far out-weigh’s being cutesy.
Don’t think that it doesn’t go unnoticed either; more than half of today’s consumers today say they’ll put off shopping at a company, especially an online business, if they can’t make sense out of the name.
I’m one of them. I’m down for individualism, but unnecessary silliness tells me the business is silly as well as the owners. I don’t have time for silly….
Your business name is as special as your business itself. You put a lot of time, effort, and money to building your business and you don’t want to sell it short by selecting a name that just doesn’t fit.
And, hanging on to a business name that just doesn’t work is just as detrimental. Having to “‘be right”‘ in business or feeling the need to “prove” your idea will only cause you to fail.
Your business name is a Metaphor, or the ‘big picture’ of your business; it portrays who you are, what you do, and the emotional vibe of your business.
It should relay the type of experience your client will have, what services you offer, the type of person you are, etc.
My first coaching business was Sacred Circle Ministry. It was for women overcoming abusive relationships, addiction, alcoholism, low-self-esteem, low self-worth, dysfunctional tendencies, etc.
Sacred Circle Ministry implied I was a minister that created a “sacred space” for my clients to share, heal, and grow.
The name had deep meaning, unfortunately, upon further research I discovered about 10,000 other business owners felt the same way and named their business Sacred Circle Something…..
Note: When you search your business name ideas and you find many with the same or similar, it’s an indicator you’re on the right track. You just need to personalize it a little bit more by using a thesaurus.
Then I expanded into Heart to Heart Relationship Recovery Institute. That name signified I was a heart-centered professional working with heart-centered clients; from my heart to your heart. Very simple name yet highly effective.
It looked and sounded professional and relayed exactly what I did!
Then I expanded more, into SUPERNATURAL TAROT. I came up with that name 3 years ago because I intuitively knew I was going to pursue the Tarot full time.
I had secured the domain through Go-Daddy and something happened where it wasn’t properly renewed. They took the name, and sold it to another outside source, then asked to sell it back to me for 3,500.00. I was like WHAT??
Also, when considering the name realize it will grow and shift just as your business will. Be flexible, NOT unreasonable. Sometimes you may need a little tweak; don’t be afraid to tweak it. It takes a few years of trying names on until you get to where you want to truly be.
Look at Coca-Cola, Pepsi, Nestle, Nike, Abercrombie, etc. They all began as something else and over the years morphed into who they are now.
The following is a guide I created to help with the psychological aspect of business naming.
SO many people put off starting a business because they can’t figure out the damn name, don’t be afraid to commit; if you find you don’t like it you can always change it.
8 Things to Consider when Naming your Business!
1. Don’t Ask Too Many Opinions. Nothing becomes more confusing and time consuming as asking people what they think your business name should be! Or if they like the name you have chosen.
Just as if you were naming your child, people aren’t as passionate about the name as you are and may say things to hurt your feelings and discourage you. It isn’t their business and likely they don’t know enough about your business or personality to give a worthwhile opinion.
They don’t know the intricacies of what you do, they don’t know the over-all vision you have, and they don’t know what your intentions are. Plus, they can get pissed off when you don’t take their suggestions and it muddies the water. Naming your business is a personal process and nobody’s business but yours!
2. Don’t Be Too Conservative. While you want your business to sound professional you don’t want it to sound too boring or to flat. You want to have a little ambiance, a little drama, and a little splash of color! You can still be professional and have the name be inviting and exciting at the same time. You want to spark someone’s curiosity.
3. Don’t Use Too Long of a Name. A name that’s too long is hard to get on business cards, websites, and of course URLs. You have to seriously consider business cards, social media and live streaming because the name can lose meaning when shortened. Develop a name that looks good in multiple places online and in-person.
4. Don’t Use Acronyms. Having your business name be an acronym may look kind of cool but it screams the 80’s and it’s just not done anymore. I know we still see it here and there but just like quoting yourself, especially in Social Media, it just doesn’t look good and says “unprofessional.” (and a little egotistical too, j/s)
5. Don’t Make Up a Word. Please, don’t. This is the “big gun” of the internet; man-made-names for people and for business. Take the name Zulily for instance, is a clothing store for women and children that doesn’t do a very good job of saying what it is in the title.
We also see this a lot with people naming their children! Their deep-seated need to be unique outweighs common sense…they’re stretching. Don’t stretch.
6. What Else Shares your Business Name? Two Words: Porn Industry. You’d be surprised the number of terms the porn and related businesses hashtag back to their sites. Ask me how I know!
Not to mention there may be business names with similar names and associations that don’t have the same integrity as you do and they may mistake their reviews with your business.
Always do a thorough search to see what your name idea is attached to!
7. Use Key Words In your Title. SUPERNATURAL TAROT says what I do in the title. SUPERNATURAL-ly is how I read the Tarot and is at the root of all of my services. I have two very powerful Key Words in my Title. That’s very important in Google Analytics to help my business rank higher in the search engines.
This is called SEO; Search Engine Optimization. I invite you to read up on it to thoroughly understand what it is and how it works. You make the most of your tags while layering the information in.
To have a successful business in 2016/17 YOU must understand SEO, Google Analytics, and how YOU rank in the Search Engine’s.
8. Don’t Be Afraid to Let It Go! There may come a day when you outgrow your business name or it just doesn’t feel good anymore! That’s OK, LET IT GO!
In the beginning you’ll have LOTS of ideas and your mind will change often. Chances are it’ll take you a few years to finally decide on a name you love and suits you and your business perfectly. Hanging onto a name for vanity-sake can be the death of your business; the quicker you move on from a stale name the faster you can breathe new life in your biz.
I had a few good names in my tenure of business over the past 30 years and at the time I loved each and everyone of them, and they all served me very very well. When something wasn’t working I was able to let them go…
I know some people that will hang onto something just for the sake of being right; there is no “being right” in business. Having to be right and prove that you were right will only lead to failure.
Overall, the most important element I want you to walk away with today is to let your business name SPEAK of your character and your service in the highest way possible. Be sure to temper your decisions with common sense.
Above all else, Keep It Simple!
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Questions for our Readers to Share in the Comments:
Do you have a name for your Tarot Business?
What was the most difficult part of naming your business?
What emotional response do you emit when you speak your businesses name?
Does the name match the over-all feel of your biz and who you are as an owner?
Thank you very much for joining us today!
Brightest Blessings and Namaste’