Doing business for the first time is complicated. It is like trying to solve an intricate Rubik’s cube puzzle without prior knowledge about patterns and algorithms that will give you the right solutions.
There are many factors to consider, and there is no definitive guide about where everything should go. Read more about business complications when you click here.
One of the most challenging parts of a business is to choose a name that fits it. Your name is going to represent your brand, services, and products to other people.
It should be unique as this is going to tell you apart from the competition. Your brand is how your clients will remember you and ensure that they recommend the right company to their friends and families.
Here are some of the mistakes that you need to avoid when it comes to naming your business.
1. People Can’t Envision your Company
The first mistakes that many entrepreneurs may make when it comes to brand names have something to do with perception. The words that you choose should be related to the industry that you are in.
When customers hear it for the first time, they should be able to pinpoint or link to your products and services immediately.
Choosing terms with negative connotations can spell trouble. You may have to spend a lot wanting others to re-evaluate the words, but you may spend many resources to do this.
The first thing is you need to have lots of extra cash to advertise your company on a national level and reach many clients. This is difficult for small businesses that are just beginning, so it is simpler to avoid the negative terms altogether.
2. Not Getting Feedback from Others
Before you are going to apply for a trademark on your company name, you need to get feedback from different audiences first. You can do this by advertising or posting on social media and get a consensus about what others think.
Their comments will show how they view the brand name, and you may want to tweak some changes before deciding on something final.
Reliable feedback from friends and families can be a start. A recommendation or two is good enough compared to those who establish a company name without knowing others’ thoughts. Anyone can also help with the rebranding of color palettes, logos, designs, and even the website.
You can get a fourth or fifth opinion as long as there are other sets of eyes that are looking into your business.
You may think that everything is perfectly fine, but you may be surprised about the potential roadblocks that you may encounter down the road if someone does not point them to you early on.
3. Complicated Pronunciation or Spelling
Another value that young entrepreneurs entirely miss is the spelling and pronunciation of their brand.
They may have personal and valid reasons why they have chosen a specific set of letters to represent their company, but it may not mean that others can easily spell or say it. If you cannot spell or say something, you may have trouble remembering it in the future.
One of the critical factors in the name is their memorability. What you need is something that makes an impact and where customers are likely to remember them when they see similar products or services that you are offering.
You may want to use short phrases, two words, or a concise term in general. It is essential that customers can pronounce them at first glance, so they will likely go in and find more about you.
Read more about complicated brand naming here: https://www.forbes.com/sites/piasilva/2018/08/29/how-to-name-your-personal-brand-with-a-difficult-name/.
4. Can Be Mistaken for Another Brand
You may tweak the spelling and pronunciation a little to make the brand look different, but it may not be helpful in the long run. You may be selling clothes and gowns, and the company name is Hearty’s. Just around the corner is another hamburger chain called Hardee’s, which can be a huge problem for you.
Another worse scenario where you would not wish to find yourself is naming your brand Coal when you are near the more popular Kohl’s shop. This is an example, and specific trademark laws can prevent others from doing this, but it is wise if you can get something different and unique at the start.
It is not wise to choose a name that could easily be mistaken as an existing and famous brand, especially if you have the same target markets as that famous brick-and-mortar shop. This is not just limited to the terms but also the colors and logos as well.
5. Not Making Trademark Searches
This is similar to that of not looking a lot like your competitors, and another error that you may want to correct is looking precisely like your rivals.
The good news is that you can visit a great corporate company naming agency that ensures that you are not infringing any copyrights when choosing a specific term for your business. They will do everything so that the process of naming your business will be smoother and you will not have any problems in the future.
An example is that you have an excellent name in mind, you got nice feedback for it, and you started to set-up everything. However, you have discovered that another business has claimed the name that you have already chosen, and an unexpected lawsuit hits you.
Everything is a mess, and you have to take back the printed logos and t-shirt designs that you’ve used to promote your company, and this is something that you should avoid at all costs.
This is why it is essential to research before deciding and committing to anything. Exploring your options is the first step in ensuring that you do not step on others’ toes and you can save plenty of resources in the long run.
You can avoid the mistakes mentioned above with the help of specialists that can help you with the design, goals, marketing strategies, and trademark research to ensure that you will succeed in your company.