Creating a Great Business Name

For those of you planning to start your own businesses, one of the most important things in your conceptualization is the business name. Maybe some of you might think that this will not do much for you, but it actually does. A good name can do a lot for SMEs trying to define themselves over others in the market.

Business names will stick for as long as the company exists, so you must be careful and strategic in coming up with this short word or group of words. Here are some things to consider:

Unique. One thing to note is that Philippine laws prohibit using a business name that is misleading, especially when it sounds like a rip-off of another brand. “Mang Donald’s” therefore is off the list for you restaurateurs out there planning on serving fast food. Business names are owned exclusively by their respective businesses. For your convenience, before you go rushing to the Department of Trade and Industry (DTI) to reserve a business name, check its uniqueness on the Internet. The DTI website (www.dti.gov.ph) provides a list of registered business names that will help you find out whether or not your name is unique and can be registered. Find out other restrictions in making a business name, such as adding “Philippines”, “Republic of the Philippines,” etc.—you get the picture.

Catchy and easy to pronounce. If you think you can fluff up your image by using an exotic-sounding business name, think again. Think about how well people will be able to spell it out if they hear about it over the radio. Think about how accurate people will be able to spell it in search engines. Think about how people will pronounce or most likely mispronounce your business name if they happen to tell it to their friends. Forget about your tongue-twister of a business name and opt for a catchy and easy-to-pronounce name that will ensure smooth sailing.

Easy to spell. Being searchable over the Internet is a huge factor in online branding. This is the reason why you should not have a business name that looks like you just jammed your fingers on your keyboard and stuck with what came to be. You might be feeling creative when adding an extra “H” in your child’s nickname, i.e. “Bhoy”, but trust me, don’t do it. Not only would you sound weird, you will also suffer greatly in terms of “searchability” on the Internet. Use proper spelling as much as possible.

Descriptive of the business. Sometimes, the best business name is the one that directly describes you. It actually works to your advantage if your business name is composed of the most searched keywords for your industry on the Internet.

Has intended meaning. Fancy foreign words? Have you checked the other languages if they mean the same? A lot of well-known companies have already fallen in this trap. True, all of them intended to make a unique brand name, but going international with the same words might spell disaster. Search over the Internet “unintended brand translations” and you will see different tag lines lost in translation, such as this certain cellphone line whose name translates to prostitute in Spanish. If you only plan to go local, no problem, but for those who intend to go global, think about your business name with care. Make sure that your business name will also mean the same as you thought it should mean. Same goes for your tagline.

An inappropriate name has the potential to kill a business, even if it has plenty of advantages over the competition. This is especially true if it has an offensive connotation to many people. On the other hand, a memorable name that perfectly describes and promotes your product or service can be the winning edge that could make your company’s marketing campaign a resounding success.

*Originally published by the Manila Bulletin. D-6, Sunday, September 28, 2014. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.