Choosing the right company name makes or breaks your company. It’s a huge factor in the ultimate success, or failure, of the entity.
It needs to reflect your service or products – without being too obvious but unique enough to be memorable to your potential and later on, your existing customers.
Unfortunately, too many business owners, whether new or old, fail to give this vital factor a lot of thought before moving forward to start their business and moving forward in their business journey.
Even if you have more than 30 years of experience in the business industry, opening a new company and not choosing the right company name can stop you from further expanding your new
Some of the factors that must be considered before choosing the best company name for you should include:
- a memorable name
- a name related to the industry, area of work, or unique selling point (USP)
- as well as the availability for your company’s domain name (your website URL)
Why Choosing The Right Company Name Is Important
Before you sign forms for the business licenses, create business cards, buy a domain, and create your whole company branding, the right company name needs to be chosen.
Think of picking the right and best company name similar to choosing your soulmate.
You need to be certain that your company name will be something that you are proud of sharing to other people when you are explaining your business plan to shareholders, prospects, and even your family.
Studies have estimated that a prospect will need to see your advertisement and company name in advertisements, Google, and Digital Marketing campaigns around at least 22 times before deciding to make a business with you, purchase your products, or take up your service.
If they have associated your business with a certain name, link your company name with your products or services, changing your company name could be damaging to your business. This is because we have no way to associate your business to your products anymore.
And once you’ve picked something that connects your potential prospect to your products or services, it is a good idea to stick with it to the very end.
When the right company name has been staying in your mind for a while, make sure that the name is not already taken by another business.
Make Sure The Name Is Not Already Used
Even if you think that the company name you have chosen and taken a liking to is unique, it is a good idea to make sure that the name is not already taken in your state, industry, or even by a competitor.
In Malaysia, all business name registrations are managed by the Companies Commission of Malaysia or Suruhanjaya Syarikat Malaysia (SSM).
MISHU offers FREE company name search that you can conduct an online company name searches. Head over to this page to see if your company name is taken or still available.
We hear you asking, “But if the name is already taken, does that mean I have to find a new company name? It already takes a LONG time to find the perfect company name!”
We answer, “Fret not!” Even if you are a business owner for a new start-up, opening a sub-company, or even a sole proprietor, checking your chosen company name against those already have been registered in the database can help you find an alternative.
If you think this will take up too much of your time and shift your focus on focusing what’s important – like finalising your business plan, and making sales, MISHU is here to assist you.
Drop us an email or send us a WhatsApp to know more about our company name search service.
Getting The Right Domain For Your Company Name
If the company name is available and ready for you, it’s time to see if the company name is available as a domain. Choosing a company name that is the same for both business registration and website URL is important.
This is a good business strategy as it helps your prospects to find you directly on the web.
If the domain name is available, you should purchase and register it immediately. The right web developing company can help you take care of this step, giving you the peace of mind you need while you are preparing for your company launch.
However, if the company name is not available as a domain name, you can choose to either:
- A) change your business name again (if you are willing to go through the process again), or
- B) focus on a domain name that incorporates your service or product instead of the company name, or
- C) add a new word in the domain name
For example, if your company name is Summer Moon and you are selling jewellery and unisex accessories, and the company name is available but the domain name is not, you can change your domain name to summermoonaccessories.com or summermoonjewellery.com
The right web development company to help you purchase these domains will provide you with good alternative names to get you the website URL for your business.
How Do I Know If The Company Name I Choose Is Memorable And The Best To Reflect My Business?
We might think that our company name is the best and most unique. The best way to see if the company name rolls out of the tongue of other people nicely is to do a survey.
The survey doesn’t have to be a nation-wide survey (unless you are a big company and looking for support from your loyal customers), but just by asking your friends, families, and even your workers.
If most of them agree with the new company name, chances are that the name is suitable for your business as well as great for people to remember.
But if you feel that this step might not be something you would want to do, reach out to us for company name advice and more.
Why Are All These Steps Important?
If you are new (or even if you are a business veteran) not taking these necessary steps before establishing your business with the right company name can be devastating for your business.
As business owners, having to change your company name after establishing it for the past three years can have a negative impact on your business as well as your sales.
Imagine having to go through this whole process again down the road – the effect could really put a strain on your effort after all these years.
Choosing the right company name is important – it can be either a good choice or a bad choice.
Here at MISHU, we assist you in choosing the right company name for FREE. For more information, head over to this page to let us help you with choosing the right company name for your business.
The view expressed in this article is intended to provide a general guide to the subject matter and does not constitute professional legal advice. You are advised to seek proper legal advice for your specific situation.