Most entrepreneurs downplay this element of starting a business, considering that it can be called whatever. This is naive thinking.
What should the company name be?
There are four basic rules for Business creating names for companies and products in business naming. A catchy company name should be primarily:
A catchy company name is constructed on the basis of a few basic variables. One of them is the subject of the company’s activity, i.e. what the company does. The name may also indicate the values held by the organization or the specificity of its operation. An extremely important – if not the most important – variable is the adjustment of the company’s designation to its customers. A name aimed at the Snapchat and Instagram generation will have to speak directly to young people, i.e. be modern, refer to pop culture and trends. If you are targeting your products or services to the flip phone generation, use names that refer to literature and fashion at a time when people used to use directories.
A unique name for the company will not only allow your company to stand out on the market. The abstract, original name for the company will be a guarantee that you do not infringe the rights of other entities, for example you use a proprietary name that another company has been using for several years. Such actions, even unconsciously, are subject to high fines, so it is worth making sure that the name of the company is also safe and secure.
A safe company name will allow you to focus on managing your business properly. It will allow you to run your business and develop your business without fear of violating the law. In the event that your rights are violated, you will be much more effective in enforcing what is owed to you. A secure company name is one that has been tested for registration in case you want to register it with the patent office. Linguistic analysis also increases the level of security significantly. After all, you don’t want to find out when entering a foreign market that the name of the company means something offensive in the local language.
A successful company name combines all of the above-mentioned features with an additional element of persuasion. Don’t manipulate! The point here is that the created name of the business should be like fireworks, but instead of gunpowder, it should contain the right associative charge that will attract customers, move the recipients of your brand, arouse admiration and remain in the memory for a long time.
What should the domain name be?
The first commandment of naming in the Internet age is:
The name of the company is a showcase that you present to customers, contractors, administration … well everywhere. So you should promote yourself on the Internet. The name of the website matched with the name of the company appearing on all commercial materials should be consistent with the entire corporate identity system. You do not need to have a professional system to build a positive image of the company in real life and on the Internet.
The advantages of having a domain name that is the same as your company name are primarily more effective customer acquisition. When a person sees your signboard, logo or name during everyday activities and wants to find you online in their free time, the first password they enter is the name they spotted earlier in the day. If, after entering the phrase in the search engine, the first result on the list will be your company website, that’s half the battle.
What if the domain with your company name is already taken by someone else?
It is always suggested to check premium domains for sale but, if you came up with the name of the company, but it turned out that such a website address is already used by someone else, you always have a few options. Here are our suggestions for solving this problem.
I) Buy a domain from its owner. However, this may involve costs much greater than what you would incur when buying a domain directly from a domain registrar.
II) Register a domain with a name other than the company name. You can register a generic name (general, colloquial, for example, what your company does). This name will generally be impossible to protect and may be used by your competitors or other companies on the market.
III) Choose other company domain extensions. If someone took a domain name with the “.in” extension, it is worth checking whether it is possible to register a www address containing a company name, but with an extension other than the basic “.in”. Perhaps the “.com” or “.biz” domains will be free. They are just as attractive, but many customers looking for you on the Internet may first find a domain with an extension that belongs to someone else. This can reduce the chance of it reaching your business page.