Your business already has a name. But it might not be the right name. If your company has been accused of trademark infringement, if your company is frequently confused for other companies with similar names or if your company's name no longer reflects its core business, it might be time to change things up.
"While it's unwise to change your business name just because you're in the mood for something new, there are times when a change is in your business's best interest," says Entrepreneur.com guest writer Katie Lundin.
When to change your company's name is only the first question of many, however. An even more important question is: To what should you change it?
To find the answer, start by thinking closely about your company's brand. "Your business name should be an extension and representation of your brand essence. So, start by thinking about your brand," says Lundin, who advises asking yourself questions like: What does your business do? How is your business different from your competition? What is your brand's personality? And what is your unique value proposition? "Take your time … Once you've defined your … brand, brainstorm names that support the most important elements. If a name doesn't relate to your brand in a meaningful way, cut it from the list."
Next, think about practical issues like spelling and pronunciation. "It's vital that your business be easy to find online," Lundin explains. "So, don't choose a name that makes it hard to find you, or is something even a Rhodes scholar can't spell."
Finally, check the federal government's Trademark Electronic Search System (TESS) to make sure your preferred name isn't already trademarked, and make sure a suitable domain name is available for your website.More Tips:https://www.entrepreneur.com/article/316529
Questions, Comments, Suggestions?Contact Successful Meetings Editor in Chief Vincent Alonzo with your "How To" ideas.