The Value of Your Business's Name

Owning your own business is a common goal for many people. In some cases, you may simply want to be your boss and in other cases, you may have a real passion for a specific industry and want to devote your career to it. When starting a business, there are many aspects of running your own business that you have to keep in mind. These can include picnicking out a location, designing an e-commerce website, configuring your social media accounts, hiring employees if needed, finding suppliers, advertising, and more. Starting a business is a complex task and even simple one-person operations require careful planning to succeed long-term. When working on your business plan, one area that shouldn’t be overlooked as a minor detail is your business name.

Thinking of a good business name is not easy and finding a creative one, that fits your business, and isn’t already in use can take some time. That’s where Namify’s generator for business name ideas can help. Using Namify to assist in naming your business gives you a name you can use for your business and social media platforms without concerns about it already being in use. Plus this is certainly helpful if you’re having writer’s block and are not coming up with any names you like.

A good business name is important for the following reasons.

Six Reasons Your Business Name Is Valuable

  1. Informs Customers: a good name can tell potential customers exactly what industry your business is in and the products or services you provide. Your business’s name is often the first thing potential customers see and you want to make a good first impression. A good name answers the most basic questions customers have (what your business does or sells) within minutes.
  2. Creates a Brand Identity: a company with a bland or vague name loses a useful part for building a broader brand identity. While not impossible, you have to put more work into communicating what your business does.
  3. Useful As a Marketing Tool: your business name can serve as a key part of your company’s marketing strategies. Your company’s name as a centerpiece on your website, online store, signage, and social media accounts makes it more memorable and ensures customers remember not only your company’s name but also the services you offer them.
  4. Makes Your Business Memorable: an innovative business name is one that people remember. Not every potential customer needs your services the moment they become aware of your business. However, they may need it in the future. A name that is memorable means that when a customer needs your services they will recall your business’s name and seek you out.
  5. SEO: in modern business marketing search engine results and rank are of the utmost importance. When a customer is searching for companies in your industry, you want your business’s name to be one of the first ones they see.
  6. Focuses Your Company: a name defines your business activities and industry. This is also useful to you as an owner. When running a business, it is very easy to lose focus on testing out new ideas and strategies. Your business’s name can keep you focused on your core products and most loyal customers.

Final Thoughts

When setting up a business, you are sure to be busy and you’ll want to take an organized approach to make sure none of the important steps are missed or overlooked. Namify’s naming tool helps complete this important step within minutes and start building your company’s vision and mission statement.

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