Getting your business name right is important for several reasons—like the fact that you’ll inevitably have to say and write it many times over its lifetime.
The company name you choose is also the first impression many customers will have of your brand and offerings. A good business name can be enough to attract a curious customer walking down the street or browsing online. A bad business name can confuse or turn away customers, in worst cases even causing them to choose a competitor with a better name.
Finally, it’s important to nail down your business name for logistical purposes. Accidentally matching or closely resembling your company name with an existing entity can lead to confusion — or even a copyright infringement lawsuit.
A common question when trying to name your business is whether or not you should just name it after yourself. Read on to learn more about the potential pros and cons of naming your company after yourself.
Benefits of naming your business
What are the potential benefits of deciding to call your company by your name?
This is a straightforward way to settle on a name.
Deciding on a name can be an intense process. Some entrepreneurs even hold focus groups to test different names and go through several rounds of revisions. Making your moniker your company title allows you to get back and forth, potentially up and running faster — and with less hassle.
Your brand may seem more personal or homey.
As one expert writes for the Harvard Business Review, naming your business after yourself can make it seem “more personal or familial” to people. If the personal touch is part of your branding, it can play well with your target audience—making them feel like they’re truly part of your company’s inner circle. Similarly, a business name based on a family name gives the impression that tradition and caring relationships are priorities.
An unusual name can set you apart.
If your name is particularly catchy, relevant, or rare, these characteristics can help your business name stand out. It can also make it easier when you’re buying a business name, as there will be less competition for trademarks and domain names. Branding is undoubtedly an important part of marketing.
Disadvantages of Naming Your Business
As much as there are potential upsides to actually naming your business, there are potential downsides to consider before making the decision.
The average person probably doesn’t have an immediate association with your name.
As your name is special to you, most people have nothing to do with your name in one way or another. Your name means nothing to strangers. This can represent a missed opportunity to brand your company in a more provocative way—one that helps even strangers understand what your company is at first glance.
Names are not always remembered or…