Many small business owners nationwide have likely heard the phrase, "What's in a name?" But when it comes to actually picking the one their companies will use going forward, it seems that the answer is, "A lot."
In the modern world, with all kinds of technology now existing and a greater emphasis being put upon the digital world by consumers and companies alike, the ability to pick a good name for a small business can make a huge difference in a number of ways, according to a report from the Washington Post. One of the most important things owners can do when starting new companies is to choose a name that's short, but unique. The reason for this is that getting the right domain name for the company's website can be extremely important, and shorter in those cases is always better. For this reason, it might be helpful to actually use domain name search tools to help come up with the name of the business that way, rather than coming up with the name first and then trying to find a reasonable – and available – domain it fits with. The easier to spell and pronounce names are, the better the situation in terms of consumer word of mouth might be as well.
It can also be vital to choose a clever name that tells potential clients or customers something about the company with a quick explanation, the report said. This way, their potentially memorable choices will also stick in the minds of the people they're trying to reach, and tell them a little bit about exactly what the company can do for them, or what thinking of it should evoke.
Again, shorter is often better when it comes to choosing a name, but it's also important to keep in mind that in some cases, naming a business after a person or people might not always be wise, the report said. For one thing, it might not accurately reflect what that company does; "Smith's Professional Services" might include the name of the owner, for instance, but that otherwise says little about what those services are. Choosing names as descriptive and concise as possible will be crucial to sticking in consumers' and other companies' minds going forward.
Another reason this is important
In addition to all the reasons why choosing the right name is important, it's also vital that the company have a name that makes it easier to find on various social networking platforms. For instance, if a small business owner's preferred name is available as a domain name, it might be wise to see if they can also get that name and URL on Facebook and Twitter.
The fact of the matter is that many people like to connect with their favorite businesses, whether they're large or small, in a number of ways, and doing more to make it as easy as possible for them to follow through on that is often very wise. Once they know where to find these companies on social media, they will be more likely to become engaged with them, and that may then put small businesses more to the front of their minds when they think about products or services in that field. This, in turn, may make that type of online real estate just as valuable as a good domain. Finding account names that match well with a Web address may therefore be vital.
Of course, owners also need to think about more than just names when starting out. They should also consider the ways in which small business insurance policies, including those for general liability insurance, for example, will affect their bottom lines.