The business name has multiple roles to play apart from being an identity. The name is crucial in building a long-term relationship of the business with its customers, investors, and other stakeholders. It helps create goodwill for the business. The right name can convey the intended meaning and distinguish one’s business from its competitors, making it stand out. A relevant and catchy business name is an asset that is as important as the business’s offerings.

Mistakes to avoid when naming a business
While choosing the right name is important, entrepreneurs should be patient and not go overboard with names. Otherwise, they may choose a name that they like but does not resonate with the customers. It is crucial to avoid some mistakes while one is choosing a name for their business.

Thinking of complex names to appear unique
A unique name is helpful in many ways, but choosing something complex, strange, or difficult to pronounce for one’s target audience is a common mistake many businesses make. For instance, choosing an unfamiliar, foreign business name to sound exotic for an essentially native clientele may not work well.

Choosing names that are difficult to spell or write
Choose a name that is easy to pronounce for a cross-section of the market. A typical target customer base comprises people from diverse ethnicities. Choosing a name that is long and difficult to pronounce may not catch the attention of one’s potential target audience. On the contrary, it may make them lose interest in one’s products or services.

Making an impulsive decision
Deciding a business name suddenly, based on a eureka moment, may sound like a good idea, but it may be a mistake. It can work only when the decided business name resonates with the target market and the products or services offered by the business .

Taking too long to finalize a name
If one has decided to start a business and name it, just like how impulsive decisions can make one choose an unsuitable name, taking too much time to think and decide can also be detrimental. Some other business may think of a similar name and have it registered, which means one may not be able to use the same name for their business.

Not considering the long-term impact of the business name
First-time entrepreneurs and small business owners are likely to choose a name that describes their business offering but may not think about the long-term impact it may have on branding and marketing. It is important to consider the image and the perception the name may create in the minds of potential customers.

Not checking if the name is available
One would be surprised to learn how many unique business names have already been registered by people who may want to start a business in the future. The name one has in mind may have already been registered by someone else who wants to start a business later. So, before selecting a name, one should visit certain websites to check if a particular business name is available.

Choosing a name similar to an existing business
A customer may think one’s business is an imitation brand or a fake business if one chooses a name similar to an established brand. The original company can also sue the business for misleading customers.

Being rigid with name choices
It is quite possible that the business owner has an emotional connection with a specific name, but being rigid about one’s choice can backfire if it doesn’t suit the business type or target customer. Business owners should be flexible and understand that they may have to choose names based on profitability and sales. As the business expands, one can use the business name innovatively for a product or service they may offer.

Not researching if the business name is social-media friendly
Businesses should have a social media presence for branding, marketing, and engaging customers. If one’s business name has too many words or is too long and complicated, they may be unable to use it on some platforms as they may have restrictions regarding the number of characters and use of special characters. Using a truncated name can send a wrong message of inefficiency.

Not getting an opinion from others
Business owners should test the selected business name with their family, friends, and other business associates. Get their opinion as they are likely to be honest and objective. Take the negative and positive feedback to understand how others perceive the name and the impact it may generate with a larger customer base.

The name of the business is the first link between the brand and its customers, investors, other vendors, and suppliers. It should be something that people can remember after many years and make them think of the brand whenever they need a specific product or service. It has to be clear, easy to pronounce, and unique. It should be appealing and invoke the image of integrity, quality, and business objective. A repeat customer is valuable to every business. Customers often return because they have had a pleasant experience with the brand and have connected with its offerings. The name of a business plays an important part in connecting a customer to a business for the long run. So, it is important to avoid any mistakes when naming a business.