Choosing a name for your Business

You have a business plan ready with you and now is the time to choose a name for your business. One might think on why am I writing a blog post on choosing a name for the company. Choosing a name for your company is indeed not an easy job and is very important in building the foundation for your dream company. While choosing a name a lot of factors has to be considered. I have mentioned some of the important factors below.

The name of the company should be

• relevant to the operations of the company.
• short and catchy and easy to remember.
• should reflect the culture of the company.
• not used by any other company. (will help you during the incorporation of your company)

Entrepreneurs should have quite a few brain storming sessions before forming a company. Choosing the name is usually an art and can only be derived by trial and error. Also you need to consider that the domain name for the chosen company name is available. For eg.: You have chosen FoodPunch as your company name, then the domain name www.foodpunch.com should be available or at least www.foodpunch.in should be available. Domain name with any other extension will reflect an unprofessional image will affect your brand.

After the name of the company is finalized the tag line should be looked at carefully. A tag line is like a twin sister to the business name you have chosen or decided. Without this the process of “Choosing a name for your business” is incomplete. Based on your budget you can hire a creative & branding professional or you could have another brain storming session and come out with the tag line.

So now you have a company name and a tag line. Once you are done with the above described process, our next objective to convert your business plan into a company (an independent legal entity). This process is called Incorporation and the same will be described in the next blog post.

* It is also wise to have an alternate business name. Will come in handy during the process of Incorporation.