Taking realistic steps to start your own business can stir many emotions. You know you have a great deal of work ahead of you, but you look forward to reaching a point where business operations can truly get underway. Before that happens, however, you will need to make several small but significant choices.
One choice you need to make that will have a lasting impact on your business is deciding on your business name. This part of the process can seem exciting, but it can also prove more complex than you may have originally thought. Therefore, it may prove wise for you do carefully consider your name options before choosing one.
Tips for choosing a business name
While you may have had a name in mind for a while, you could benefit from some research and tips for finding just the right name. You may also want to have some flexibility when it comes to choosing your business name. One option that you find considerably clever may not come across as well to other people who are not in your industry or may not understand your business. Some tips to consider when deciding on the business name include:
- Make sure others can spell it. Even if you include a common word, if it is difficult to spell, potential customers may not find your business as easily.
- Rethink using puns or other word play. A name or phrase you find cute may offend others or seem unprofessional.
- Avoid names that closely resemble already existing brands. While you may think a name similar to another business will help you draw in customers, it could actually result in you facing trademark or other infringement claims or lawsuits.
- Choose a name that is not your name. Having your name in the business name could cause difficulties if you want to sell the company later.
- Check for availability. Before you start printing business cards and making letterhead with your chosen business name, you should make sure that the name has not already been taken by another company in any state where you plan to do business.
These tips and others could help you find the right name for your business while also avoiding potential pitfalls.
In order to avoid name-related legal disputes and to make sure that your business name is available, you may want to enlist professional help. BHMK can help you make sure that your business name meets legal specifications and help you through other important aspects of business formation by providing solutions to problems before you have them.