Choosing a business’ name is an important process that shouldn’t be taken lightly. The name you choose will play an integral part in the marketing of your company and will influence your brand’s image and positioning in the marketplace.
Here are a few things to consider:
Unless you have a massive marketing budget to help give meaning to your “ABC Inc”, avoid all acronyms – period. Even IBM started as International Business Machines.
Think beyond your local market
While you might operate in a local market in the beginning, having a geographic label in your name can cause issues when you want to expand.
Ensure web availability
It’s critical that you can secure the domain address of the name you choose. The web will very likely be the first touchpoint prospects will have with your brand so don’t drop the ball here. Your web address needs to the same as your business name so avoid hyphens and abbreviations.
This infographic from Webs.com explores common approaches that are used in naming a business while highlighting some of the benefits and pitfalls to avoid.