Choosing Your Business Name
As I prepare the Articles of Organization for a new LLC, or the Articles of Incorporation for a Corporation, I get a lot of questions about what name can be used for the LLC or corporation.
The name you choose for your business is a very important decision which can also be considered overwhelming and even exhausting.
You usually start off by trying to come up with names that you think will be the most creative and then you eventually end up trapped by a long list of crappy business names, of which you settle with the one that your best friend told you was awesome.
Don’t do that.
Here’s what I believe are the 3 steps that go into creating a PHENOMENAL business name.
First: The Search for Existing LLCs or Corporations.
Most people skip this part, but your name can not and should not be the same as another existing LLC or corporation. Most states provide a simple name search on their Secretary of State website. Use it. It is GOLD.
If your search shows a company already formed with the name (and their status is “Active”), then you’ll need to consider another name. So How Close is Too Close? Generally speaking, it should not be so close to another business’ name that it would be easy for a reasonable person to confuse them.
Second: Compile a list of keywords
Consider your business’ market and your competitors. You can source keywords from logging all of these names. Think about what makes your company unique. You can even use a thesaurus to find synonyms of your favorite keywords. Plug your keywords into generators. I have often used Wordoid.com to generate fictitious word derivations. Also try bustaname.com for brainstorming domain names (because that is very important as well). NEVER assume that www.youruniquename.com is available for purchase. Give leandomainsearch.com a look see as well.
Will the name you pick stand out in a crowd? Nothing does that better than a well conceived name.
Third: Narrow down your list to the Perfect Name
No, this isn’t where you ask said best friend which name they like best, nor do you need to poll your parents. Avoid bias by asking your target audience. One way to do so would be to head on over to Leadpages and sign up for a free trial account. Set up landing pages for each possible name. Create an easy logo and then use Facebook ads or Google adwords to run targeted traffic to each landing page. After a few days, you can compare which name your audience responded to more.
Alternatively, Contact The StartUp Pro, and I’ll help you decide if its worth filing your desired LLC or corporation name. I’m always here to help!