Are you starting the business, with the intention of selling the business down the track? It may be easier to sell a generically named business, than one with your own personal name.
You know what your business intends to do, in its first year, but from my experience dealing with businesses, what they start doing and what they end up doing may be totally different things, because the opportunity presents itself. Don’t limit your business by your business name.
If you have a passion or an inspiration from somewhere else use it. Explaining why you choose your name can attract people to your business, and your enthusiasm. DR Evils cat, Fluffy chinchilla’s, Tabby Cat, Nine Lives, Purrrrfect are all great names for someone who likes cats.
Make sure that it is easy to spell, and pronounce. If someone hears it on the radio, can they google the name, and find you?
In fact if you do choose a name ~ Google it ~ What comes up, is it already in existence somewhere in the world. If you Google my businesses name the only other entry that comes up is a single entry in the Netherlands.
What are your competitors called? Make a list of all of your competitors…do you want to sound like them or do you want to be distinguished from them?
Here in Australia a company has started called VIRGIN STAR http://www.virginstar.com.au/ ~they are an internet & IT service provider. They have gained a huge amount of exposure, because they have used both the name Virgin, from the Richard Branson empire, and Star, we have a fleet of planes here called Jet Star. The simple choice of their name has gained them a huge amount of exposure.
Another story ~ a client of mine ran a well known business in a county of England. A similar sounding business started up in the next suburb. There business wee not similar the new business sold training infrastructure such as projectors. My clients business used to receive cheques (b.t.w. correct spelling here in ozJ), in his companies name, that were probably intended for the other company. Well of course he would give the money back…but he also received orders that were intended for the other company, purchase orders would come through on his fax machine…he would source the equipment, and sell it to them making a tidy & easy profit.
I am not going to discuss such things as trade marks, and registering the name of your business.
Hope that helps a bit.
from Heather Smith ~ MYOB Certified Consultant