Choosing the Right Name and Place for Your Business

Choosing the Right Name and Place for Your Business
Panagiotis Koutoudis
by Panagiotis Koutoudis

Naming your business can be quite a stressful process for you especially if you are starting a business for the first time. You know that your business name should be something that will last, and if possible, would carry your company’s unique characteristics and value.

“Business name and place – Two elements that point out your business personality”

Truth being told; who wouldn't want to be unique? But experts explain that some businesses are so concerned about making a name in their field that they go ahead and choose names that are extremely weird and scream ATTENTION. However, in most cases, there are better ways to gain your reputation than just putting up a name that is confusing, difficult to pronounce or has a double meaning.

Naming Your Business - Taking Advantage of Linguistic Tricks

  • Let words do the talking - when you choose a name for your business make sure that it is related with your product or services. Do not go for a name that sounds fancy, but speaks totally about something else.
  • Strong yet simple - a good business name should be easy to spell and pronounce. That's right, if you choose a name that is difficult to spell or pronounce, chances are that you are going to miss out on a lot of potential clients. Anytime you have to explain your business name or spell it, you are devaluing your brand.
  • No pun intended – A pun in a business name is quite risky. Avoid using puns in your name and the best way to make sure is to take others' opinion on it.
  • Do not copy - try your best not to copy names from other business. Try to resist from names that remotely matches any other company name.

How to Choose the Right Place for Your Business?

Every business owner needs to figure out if the location he chooses for his business is going to contribute to the success or not. This, more often than not, is one of the most critical decisions in starting a business. Although, there are several factors to consider when looking for a space to put up your business, make sure you can answer these 4 very important questions to yourself:

  • Will the location that you are choosing for your business contribute to your success?
  • What type of location would best suit your business products and services?
  • How much can you afford as rent for your business set up?
  • Is your location appropriate for the business that you are planning to do there?
  • Can customers approach you directly?
  • Is there a parking spot?
  • Can you attract more customers if you choose a location near to other similar businesses?
  • Will the reputation of the location help you draw customers?

Answering the above few questions would surely help you to figure out if the location you are choosing is actually going to benefit your business. For certain businesses, example catering, car pool, restaurants etc. will have to be very specific about the location they choose because they need to have customers who need their services.

To help you out with the right name of your company and the right place of your company, we have a checklist that will take just five minutes of your time. This checklist has helped millions to figure out if their shortlisted properties and names meet the criteria for their business success.