Naming your new venture

How to name your business - some ideas about what to think about

NOTE: you are viewing a free module inside the FLY programme.

If you wish to see the full curriculum and find out more about FLY, click here: full curriculum


It is quite likely that you already have a name for your new venture and you may have already bought the domain sites and registered the company – if so, then you may want to skip this unit. Or not! Perhaps, check through the material (or at least the 8 common mistakes in naming a company), just to be sure you have not made any “rookie errors”. It may be better to start again then get a long way down the track and then have to change it.

So, what’s in a name?
The answer: a lot, when it comes to small-business success. The right name can make your company the talk of the town. The wrong one can doom it to obscurity and failure. Ideally, your name should convey the expertise, value and uniqueness of the product or service you have developed.

Some experts believe that the best names are abstract, a blank slate upon which to create an image. Others think that names should be informative so customers know immediately what your business is. Some believe that coined names (that come from made-up words) are more memorable than names that use real words. Others think they’re forgettable.
In reality, any name can be effective if it’s backed by the appropriate marketing strategy.
There probably is no silver bullet method to go about naming your venture, but we have pulled together a few articles and videos that will most definitely help you to start the process and avoid the common mistakes. We advise taking half an hour and going through this material and then work with your co-founder to develop a few options and then narrow it down to one.

The article associated with the above video can be found here: “How to name a business”

 

The article associate with this video can be found at: 8 mistakes to avoid when naming your business

If you click on the image below, you will be taken to a more thorough video which is well worth listening to.

Naming your venture

 

OK -to all the paying users: it is now time to get creative and have some fun! Go to the assignment and get going!

(NOTE: assignment available to paid users only – but why not signup now if you are not paying? This could be the difference between you launching a successful business or crashing and burning like 70% of all new ventures!).


NOTE: you are viewing a free module inside the FLY programme.

If you wish to see the full curriculum and find out more about FLY, click here: full curriculum

Below this line you can see what the contents of the assignment look like …..


However – here is an example of the work you would get to do in the assignment for this module:
Venture domain registration

In this assignment you will check your name is available for registration and select a web domain name. You also have the opportunity to sign up with a web hosting service and register your name on your favourite social media sites.

When complete, just write a quick note in the text box to let your mentor/instructor know what you have completed and tell him/her about the name you have selected.

 

 


It is time to select a venture name, check its availability as a domain name, check its availability as a brand/company and register the domain.

See the previous module for advice about naming an organisation if you are still trying to decide.

If you are new to this and a little hazy about domain names and what they are, here is a quick video from Google’s excellent Digital Garage course. If you are still trying to get to grips with digital marketing elements like social media, web search, e-commerce, etc, we recommend doing the course and getting to grips with the basics. Find it at Digital Garage with Google.


Company name search
It is a good idea to check that the company name is not registered in your country. Beyond a basic web-search, it is worth checking with your national version of the UK’s “Companies House” which keeps details of all registered companies.

The UK link is
Company name search
Most countries have a similar facility.


Domain search
Most internet providers offer a domain search facility – and will offer to register a domain for you if you wish. The regular cost is about $10 which is then paid annually; however there are some who will do this for free or a lower price. There is normally some catch or eventual add-on cost and the old adage “there is no such thing as a free lunch” is worth keeping in mind here.

However, if you are on a shoestring budget, use one of these free providers to start with and you can always change later.

Domain search facilities:

Whois Lookup – this is a useful site as it gives details of domains, who is behind it and plenty of other technical details
Go Daddy
Namecheck     (also claims to check social media, although not perfectly accurate)

Free or very low cost domains (most have search function as well)

SiteGround (our recommendation – see note below)
1 & 1


Domain registration
Once you have found your desired domain name, register it.

To the non-techies: you can register a domain name and get web hosting services from different providers, but it is simplest (and normally cheapest) to have the same provider for both. Many web hosts offer at least one free domain when you host wth them.

Domain and web hosting

There are many companies who will host your website and you could spend a lot of time trying to balance your requirements for capacity, applications and support. We use SiteGround.com  who were great for me as they are well-priced, have a range of different options and (for the technologically-challenged like me) have excellent support. (Disclaimer, this is an affiliate link where Mashauri will earn a few cents if you use their service – but frankly we would recommend them with or without this affiliation).
Web Hosting


Social media

If you have the time, it is worth checking out names on Facebook pages, Twitter and LinkedIn as well. Although you might believe that social media will never be part of your business, it does no harm to register these names in the meantime.

We have not given any instructions here as these sites all have good descriptions of the registration process – and do a far better job than we could do.

Do not forget to update your venture details with the links to these sites.


 

 

Now just write a note to your mentor in the text box to tell them him/her what you have done – and submit the assignment.

Whoooo-ooooo – your business is coming to life!

 

ASSIGNMENT : Domain search and registration: FLY MARKS : 10  DURATION : 2 years, 9 months

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