When you start a small business, you want to make sure your operation thrives. According to the U.S. Small Business Administration, from 2015 to 2017, an average of 78.6% small businesses maintained their operations for at least the first year.
One step you can take to ensure your business survives its first year and many years after that is to pick a solid business name. The following tips can help you accomplish this.
Stay away from a business name that is difficult to spell. If people cannot spell your business name, they will have a hard time finding your small business online and other places.
Although you should be creative with your business name, you should also make sure your name identifies what your operation does to some degree. A meaningless name can be catchy and interesting, but it can take more time and effort to brand during the startup process.
Put together a list of your favorite names and then ask your friends, family members and co-workers to give their feedback. Their opinions can help you identify any negative connotations with the name or other issues that could hold your business back.
Doing research into your business name and getting feedback are both steps you should take, but most importantly, you should make sure you like the name of your business. Most likely, you will have to use the name for an extended period of time, so it is worth getting it right at the start.