There has been some great discussion recently on the Global Social Media Management Association (GSMMA) private Facebook group on how to choose a name for your business. Choosing a name is one of the most important steps you can take in creating you business. Here are some of my best tips (along with some helpful hints from GSMMA members — I love that I’m always learning too LOL!).
The first question you need to ask yourself when naming your business is why are you building the business? Are you trying to build a legacy for your children? Are you planning to sell the business eventually?
If that’s the case, you want to choose a name that isn’t related to you personally. (I do recommend snagging your own name as a domain whether you use it as your business name or not).
It does help your website get found if you use a keyword in your business title. For example, if I were naming a social media business I would look for names with the word social in it like – Make Mine Social or Social With Ease or Social Profits. The keyword in the title will help your SEO.
If you are already well known — or you think that your business offerings might grow and change over time – using your name is okay (especially if you are not planning on building a business to sell.)
Of course, you can create something out of nothing. I chose Decisive Minds to be the name of my business because I love to work with decisive people but it really doesn't mean anything so I was able to make it whatever I wanted it to be. Although I am the main draw for Decisive Minds right now – it can definitely function as a stand alone entity without me (as long as I create that situation) so that at some point when I want to sell it I can.
Do you want to learn more about choosing your business name and the other steps you need to take to get started online? I will be spending a whole session at my live event in Orlando on “getting started” steps. By the end of day one, you’ll have a step-by-step plan to get launched and get going online. Click here for registration information.