What’s in a name?
Shakespeare said it and now we are too! If you’re a veteran, do you have an idea as to what should go into a good business name for a business that may potentially be geared towards other veterans?
Obviously this podcast is dedicated to the topic of naming your business.
How should YOU approach that topic?
Names Don’t Matter
If we were to ask Seth Godin, he would probably say that names don’t matter.
In certain contexts, there is value to what the guy is saying.
In many instances people put extreme pressure on themselves on what to name things- they want a cool name or a beneficial name or a name with a great story behind it.
Taking a step back will allow one to realize that many cool brands out there achieve success not because of what they’ve chosen to name themselves but because of all that they’ve done.
It isn’t really the name that matters but the history.
The Other Side of The Coin
However on the other side of the coin especially that of the online world naming one’s business in the “right” way can spell out the difference between success and failure.
Granted there are companies who have managed to hijack ordinary names and words and turn them into something that’s completely theirs in the online world- think Amazon or Yahoo for instance.
There are also certain rules as to how to name one’s online domain which we will be touching on briefly below.
Click here to listen to How To Name Your Veteran Owned Business on Stitcher.
Click here to listen to How To Name Your Veteran Owned Business on iTunes.
What We Think
To us it isn’t necessarily better to go with one school of thought versus the other. Instead we try to stay in the happy middle.
Its best not to dwell too much on a name but if a good name does come up then it is certainly worth checking if the domain is taken. If it isn’t grab it and run with it!
General Rules
Thinking of naming your business? Here are a few general rules that we’ve come across and tend to agree with:
- Keep it short
Apparently company names as well as domains are supposed to be short and concise just so they are easier to remember. The only exception to this rule is if you have a longer name but it still manages to roll easily off the tongue. If it does that then feel free to use it.
- Think about keywords
It can help to put some sort of keyword into your domain name. This can achieve the task of describing it and giving a general idea as to what the company is about and what service it provides.
For example Antonio’s company- A Tailored Suit- immediately gives people the idea that he deals with clothing and suits and not skateboards.
The only disadvantage in going with a very particular keyword is that it can limit you and the business. If you want to grow your business in the future and potentially go into a different avenue or niche you may have difficulty doing so because your very keyword-oriented name may make it seem ridiculous and give people the wrong idea.
You definitely don’t want a potential client looking for clothes to end up in a site that sells skateboards. That person will end up confused, frustrated and will simply go somewhere else to find what he needs.
- Be Unique
When you have a unique name it can immediately differentiate you from the competition.
It is safe to assume that no matter what business you are trying to get into you will encounter some sort of competition. When you have a unique name it can give you an edge up to your completion and hopefully drive more people to go with your business.
- Try for a .com
Compared to .net or .co, the numbers and statistics say that a .com domain ranks higher just because people are more used to typing it.
If the .com domain name that you want is already taken it may not always be the best idea to force a .co or a .org as it may again cause confusion for those trying to access your site. The worse case is it can even lead them to a working site that isn’t yours but may offer the same service. In a sense you are leading them straight to the competition!
- Don’t make it hard to spell
If people have to clarify with you on how to spell your domain name then that is a sign that you have a problem. If people are finding it hard to spell your business name then it follows they may have trouble finding it online.
- Reject hyphens and numbers
Like spelling variations hyphens and numbers may confuse people especially if they can’t remember the exact number or where the hyphen is located.
To be safe just avoid them altogether.
- Avoid copyright infringement
Do a quick search before registering a domain name. Another company may already have that business or that business name and may have an active website even with a slightly different domain name.
Trying to be clever and registering for a slightly different domain name (such as going with .co or a .org in the end instead of the .com) may backfire on you. Certain companies may even take you to court and charge you for copyright infringement for taking their domain name!
These tips are practical, easy to remember and can really help you in making a difference in your business! Definitely keep them in mind when thinking up a name for your next business venture.
Until next time!
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