There are over 100,000 Small and Medium Enterprises (SMEs) in Nigeria. Imagine for a moment if they had the same name or no brand name at all. That would be a lot of chaos for business owners and their clients. A brand name/label is indispensable and invaluable. A business name is a succinct way to describe what your company does. It is often the first thing potential clients will come to know about your business and it may either greatly appeal to them or turn them off. Several entrepreneurs struggle to choose a befitting business name. It should come as no surprise that choosing a decent business name is challenging because it may seem that many of the names are already taken or you simply are not getting enough ideas.

This article discusses some helpful ideas and resources for selecting a business name that is both appealing and likely to increase sales. We also have you covered on tips to attain business success. https://smartsmssolutions.com/blog/119-sms-marketing/human-resource-and-business-skills/1490-the-secrets-to-being-successful-in-business-2

Tips for selecting a great business name:

• Draft the purpose of your brand - The common mistake entrepreneurs make is to delve right into naming their business before having a clear concept of their startup. Writing enhances clarity of thought. Ideas thrive when there is a goal. Before you think of a business name, write a brief description of your business goals. This should include your industry, your product/service, the market needs, your potential clients, the names of your top competitors and any other relevant information you think about. When you have done this, proceed to the next step.

• Employ Catchphrases - Most businesses use two or three phrases or words to describe their unique service and this becomes their brand name. What phrase or word would best describe the purpose of your brand? Identify your unique service. It could be providing affordable meals or luxury apartments. Look up synonyms of those words. You can use a thesaurus to search this out. For example, a logistics company with a major goal of fast delivery would look up synonyms for the words 'fast' and 'delivery' and may come up with phrases such as "Swift Ride" or "Brisk Ride". This brand chose its goals based on the current market needs in its location and selected a business name that reflects the solution they offer.

• Brainstorm with a team - The wealth of ideas that can be unearthed by a team is largely underrated. Seek suggestions from your team after you've collected a large number of phrases. They would offer useful suggestions. It is preferable to conduct your research before seeking assistance from a team, this will speed up the thinking process.

• Keep it short and simple - A lengthy name can easily be forgotten. Remember the goal is to help your potential clients remember your name and return to make more purchases. While a lengthy business name makes it stand unique and gives fewer issues when registering, it could create problems when selecting a domain name and designing a business logo.

• Keep an eye on trends in your industry - Recall that you already had a brief write-up about your business. This should include your competitors' names, and identify any pattern in their brand names or names of their latest products/services, this can provide insight into selecting your brand name too.

• Lookup the name in a search engine - It is important to find out if your proposed name has been taken, especially if you envision dominating the global market. It will assist you in avoiding legal complications involving patent rights and help you build your distinctive brand. You also need to buy the domain name.

• Test run it -Try using the new company name in a sentence to gauge how simple or difficult it is to pronounce. For both clientele and advertising purposes, your company name should be very simple to pronounce.

• Register your business name quickly - After selecting a business name it is important to patent it with the relevant authorities, and discuss with your attorney the requirements for that.

As you work on getting a worthy business name, see how you can improve your leadership skills. https://smartsmssolutions.com/blog/119-sms-marketing/human-resource-and-business-skills/1486-12-leadership-skills-and-qualities-you-need-as-a-business-owner

Tools for Choosing a Great Business Name.

Here are some free online tools for naming your company. These tools are user-friendly, they simply ask for your industry, and they suggest good business names in a few seconds. It will also indicate if the domain name for the proposed business name is already in use. So, all you have to do is enter those two catchphrases we discussed earlier, and you will be presented with a plethora of fantastic business name suggestions to choose from.

1. Businessnamegenerator.com

2. Namesnack.com

3. Namelix.com

Building a strong visual identity for your brand should be next on your list after getting a brand name. https://smartsmssolutions.com/blog/122-sms-marketing/sales-and-marketing/1478-how-to-build-a-strong-visual-identity-for-your-brand

Whatever business name you choose, make sure that it appropriately represents your product/service and sounds appealing to your clients.

Now it's your turn; tell us what you think a good business name should look like.

Do you have friends who are contemplating starting a business? Share this article with them.

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