THIS.
IS.
IMPORTANT.
The name you select will represent your business to the world and be the foundation of the brand you build. It can make or break your success.
Are you scared? Nervous? You should be! But, let’s clinch those fists and dig right in.
Here are some things I ask my clients to consider once they’ve chosen a name they like:
- Is it unique? Or does it sound like something else?
- Does it describe and fit your business? What message does it send?
- What about the brand? Does it agree with your brand?
I always suggest that once a client comes up with a name, that they sit with it for at least a week or two. Kick it around. Ask those close to you what they think. They might be able to provide insight as to whether it ‘fits’. For instance, you might not want the word ‘Salsa’ in the name for a Soul Food Restaurant. If you begin to hate the name you’ve selected or get unfavorable feedback from people you trust, that’s probably a good sign that you should go back to that business journal we discussed to come up with another name to consider. Maybe several.
The key to this is to think about what YOU want. What’s good for one business may not be good for another. It has to fit YOU and your business. It has to appeal to your customer. This is a very personal process and it may not come to you immediately but I guarantee you, it will eventually come and you’ll know when it’s right.
One of the most important things about choosing a name for your business is making sure it’s available. There is nothing more heart-breaking than having a client who has selected a name, then get excited about it only to find out it’s not available. (Sad Face emoji here). But, I think it’s pretty obvious why we don’t want to share a name with another business, especially a competitor. Checking to see if the name is available is as easy as checking the New York State registry on the Secretary of State website. It’s probably a good idea to look into National trademarks, website addresses and social media outlets as well.
Now let me be clear. Someone could own the twitter, Facebook and website name you’re thinking about. While they can’t stop you from registering your name officially, think about how difficult it might be to build your brand with the name and someone else owning the website and social media addresses. It’s not impossible but it could prove challenging. Just something for you to seriously consider.
So now you’ve selected your name and researched whether or not it’s available. Look at you moving right along in your business. Now it’s time for you to register your name. And registration can be handled in a couple of ways.
One way is to incorporate! We’ll need to decide on what formation the business will be and file it with the State right away! Many people think it’s difficult to form your business as well as expensive. But it’s NOT! Some of you are reading this because you know already how easy it can be because you’ve sign up for the “Get Structured – Accelerated” course. For those of you that are reading this who don’t know about the course, it is my easy piezy way to help you form the business entity you need to fit your business needs as well as step-by-step instructions on how to file it, including all the forms (and some extras) you’ll need to get it done FAST! For more information on “GSA”, clink HERE.
After you form the entity, you might want to consider registering a trademark. While a trademark isn’t necessary to gain protection, it does provide legal benefits should you ever have to go to court. I can help you not only file your business entity, but also register your trademark when you’re ready.
Next time we’ll go into more detail about entity options and how to file. Until then…..