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Mistakes To Avoid While Choosing A Business Name For Your Company By Wale Deinde

Nigeria Student Forum / General Discussion / Mistakes To Avoid While Choosing A Business Name For Your Company By Wale Deinde

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Sani Ibrahim
Abubakar Tafawa Balewa,University
Agricultural economics and extension
100Level, Nigeria.
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Good morning all, welcome to another business week, I am
sure most of us are aware of the introduction of the Federal
Government survival funds to cushion the effect of the
Covid-19 Pandemic on our businesses. A part of the fund
according to the information is dedicated to individuals
planning to register new companies.
Our topic for discussion today is to help these individuals in
registering the right company with a sellable name.
I want us to know that choosing a good name for your
business is not easy. You want it to reflect your business’s
personality and be catchy at the same time. Before you make
your final decision, be sure you avoid these business naming
mistakes.
Choosing a business name is challenging for many startups. A
business name that is appealing and memorable can help build
recognition and bring in business. On the other hand, an
inappropriate or poorly-chosen name can raise eyebrows and
keep customers away, or just make your new venture easily
forgettable.
Some aspects of selecting a business name are subjective and
reflect the personal wishes, preferences, or even the owner’s
existing name recognition.
But in most cases, when you start a business and choose a
business name, it pays to avoid these common business
naming mistakes.
Picking a business name that limits business growth
Choose a business name that is wide-ranging enough to give
your business growing room.
Geographic business names are popular; like you choosing a
name like Lagos Housecleaners Limited. But what happens if
your business takes off and you will like to expand beyond
Lagos or even go national? Unless you’re sure you want to stay
in one particular location, avoid using geography in your
business name. The same goes for naming a business after
one product or service:
Choosing a name that’s too general
While you do not want your business name to limit the future
growth or direction of your business, you do not want it to be
so general or generic that the name does not give any sense of
what you do. To someone who does not know the business, a
company named Fast Home Services might be a plumber,
roofer, a pest control service, or even a home cleaning
service, so be specific on what you do.
Using unusual spellings of common words
If you are one of those people who like to be different, or if
you are having trouble choosing a name that is not already in
use, you may be tempted to include a sound alike misspelling
of a common word in your business name. For instance, you
might want to call your Restaurant a name like, Eat-n-Well.
Avoid the temptation unless you have a lot of time and money
to build brand (and spelling) recognition, reason being that
someone who remembers your business name, but doesn’t
remember where you are located is going to go online and
search for “Eat and well.” Google will most likely show the
person all the restaurants in their vicinity. And, if you have not
done a good job optimizing your site for search, that customer
may never find you.
Using a business name that’s too long, difficult to understand,
or hard to spell or pronounce
Ideally, your new business name should be made up of words
that are easy to remember, spell and say. It should also be
short enough to fit on a business card or display on a sign and
fit neatly in a corner of your website. If you chose the name
like “Waledeindesupermillenium Company” few people would
remember it to pass along or to find on the web. It actually is
a word that means “nonexistence” and that is probably what
would happen to any business using it – or anything even half
that length – as their name. If your customer cannot remember
your name, they will get what they want to buy from someone
else.
Getting stuck in alphabet web
In the days when print advertising and printed directories
reigned, a business name that came at the beginning of the
alphabet could be a plus since many business listings were
alphabetical and some businesses still seem to think this way
in naming their businesses. If you use printed yellow pages to
find a business, you will still see a staggering number of
businesses starting with the letter A, and more than a couple
that start with the somewhat nonsensical: “AAAAA Consult
Nigeria Limited” and “AAA Active Electrical Limited.” Other
than another word that starts with the letter A, what purpose
does the word “Active” serves? Using A, B, or C as the first
letter of your business name can help your name show up first
in a printed directory, but getting found in print is not terribly
important anymore. Think instead of how your name will show
up in a Business listing in Google search.
Being an island
You have thought up 15 business names that are in the final
running, and you think they are all pretty good. Now is the time
to get some feedback. Run those names by some close
colleagues, family and friends. You might be surprised at the
number of things they bring to your attention that you have
overlooked. A little constructive objectivity goes a long way
when choosing a business name.
Failing to check if your chosen business names or its
acronyms belong to another business
Before settling on a final name, you will need to ensure that
you won’t be violating someone else’s trademark rights to a
particular business name. Ensure the name or its acronym is
quite different from others to avoid conflicts.
Coming up with a business name is not particularly easy, but if
you avoid these common mistakes — and invest some time
and thoughtful effort — a great business name should be well
within your grasp.
Thank you.

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