The Beginner's Guide to the Perfect Business Name
You have finally decided to launch your own business after much planning and deliberation. There are a few steps you should take before diving straight in. Starting a business takes more than just a vision; it takes creativity, enthusiasm and a well thought out plan. Does it stand out amongst the clutter of millions of other entrepreneurs also launching their product? Once you have worked out that you are ready to launch your concept there are a few key steps to follow.
Firstly, what’s in a name? Well a name is the most important features of your brand. Generate a list of 10 – 20 different names that you think would suit your brand. Creative Agencies do exercises like writing everything that comes into your head for 2 minutes. Every name, thought, write it all down. Alternatively, create a mud map. Personally, I get a large piece of cardboard and write every idea that comes to me. Yes, at the end it might look like the crazy scribblings of a mad man, but the results always come through. Also, you will find there are concepts that you haven’t even thought of. It is amazing what unexpected thoughts can come from doing these mental exercises.
You need a name that can make clients know exactly what you are trying to sell. Once you have a list, narrow it down to the top 10 names you would be proud to call your business. Now comes the fun part. Some people might question why I am suggesting a list of at least 10 names? I have one name that would be perfect and that’s all I need! Unfortunately, as original as you might think your name is, there is a high chance someone has already taken it. The first step is to check if there is a business already with that name in use, or one that is too similar that may lead to trademark issues. The easiest way to see if the name is already taken (in Australia) is to check on the company name database. Click HERE and the link will take you to the search database section.
If your name is not already taken, move to step two. Step two is checking that the domain names are not already taken. I use GoDaddy for my domain names as they are secure, user friendly and very easy to transfer domains to hosting platforms. GoDaddy generally always has a discount going especially for new customers. Even if I am buying a new domain I will search for a coupon code at websites such as RetailMeNot or Coupons.com to get a discount.
If you are wanting to just sell in Australia, New Zealand, UK etc always purchase the .com.au/.com.nz/co.uk extension. In Australia you will need an ABN or ACN to register the domain, so that no one else can try to claim it at a later date. If the name also has a .com domain available, that’s even better as you will have complete control over your branding and SEO becomes straightforward. If you only find a .com.au domain available and you are set on using it, check out what the .com website is selling. If you are trying to launch a vegan friendly candle website and the .com is a steak house, or alt-right company that goes against everything you stand for, it will harm your business and search results. I always recommend buying the privacy protection for any domain you buy. I always purchase it as it encrypts your data and your name won’t come up as the person that owns it.
After purchasing the domain, register a Gmail and/or Hotmail account with your company’s name. The other major step is seeing if the social media handles you want are available. Check Facebook, Instagram, Snapchat and Twitter to see if someone is already using the name you have created. It is always harder to gain brand consistency if the handles have to be different on each social media account. Use the Gmail or Hotmail account to register all the social media accounts, that way all the data you receive comes to this separate account that has been set up just for your business. If you want to seem even more professional, I recommend purchasing an email that is linked to your company. Most people will use Info@ or Admin@ for their companies email address. The problem with using these handles is that lots of email servers will flag it as spam and all that hard work is lost in a sea of promotional and advertising materials. Companies will take you more seriously if you have a business email address. Depending on who you use, it can cost between $5 - $20 a month. I suggest shopping around to find the best deal that suits your business’s needs. The most important aspect is that you can transfer it to a G Suite account, which tracks your analytics. This will also allow you to set up and managing advertising and SEO for your website.
It might seem like a daunting task, but by doing your homework you are not jumping blindly into unexpected fires that you will have to put out at a later date. By setting it up correctly the first time, you won’t be pulling out your hair and you can focus on the most important aspect; your business.