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The following video transcript is generated automatically by a computer algorithm that learns and gets better on a daily basis. Please accept our apologies if some content below doesn’t make sense:

So you’re starting a new business and one of the things that people always get bogged down in. Even people who have a very experienced start, new businesses is choosing a name. And this is choosing a name for your business, like your legal entity, but also it’s choosing a name for your product or service or what you might trade as or something like that. And there are so many moving parts of this and so many different kind of opinions as to how important or not that is. So. So let’s say, for example, you and I have just started a brand new business and we are selling something e-commerce, some sort of like widgets. Why are e-commerce like what? What would be your take on choosing a name for a business or a product, business like that.

So first of all, you need to initiate the company name. It is way less relevant than the brand.

So what I need doesn’t need to be the same name. So the company name is just an institution. Could be name whatever you want. It doesn’t need to be the face, you know, company face brand to your customers.

But then when it comes to your trademark, that you should look into registering it as well, which includes your brand and your logo.

So, yeah, usually.

So some even if there no RSVP, you want to keep it short, memorable. And ideally, if it’s if you cast some kind of link to what you’re trying to sell, that will make it easier to communicate to and customers for obvious reasons. Because no one knows you. Because by definition, your brand new. So if you come up with an acronym to sell those widgets, then you need to explain that that acronym is the brand of widgets where if you got it. I don’t know which it li or something like that.

Immediately it will tell what you sell. And that’s very useful. It will shorten your marketing message. So remember that also you people are bombarded with that. So they have limited attention span. So it’s more you need to play more around with images unless text. So you won’t have a lot of text to explain what you do or or what you sell or why they should choose you. So if you have a memorable, catchy name that people understand what you’re talking about, it’s helpful. But with that said, most of those short, catchy names are taken already. So.

So that could be an issue. And you can get dragged into, you know, spending too much time on trying to come up with the best possible name for your brand.

That could be a big issue because it’s not something you should really spend a lot of time on. So, yeah, I think it’s it’s important, but not as important as usually people think it is.

Yes. No. Obviously, it varies by circumstance. I so my opinion.

On it is I think it also varies by how you plan to. Get market to your customers as well. Because I think that if you are going to be doing a lot of paid advertising and brand advertising, then the spending a bit more time on it is important because that’s going to be a key part of what your advertising marketing is going forward. And it can have a knock on effect as to how effective those are, but those adverts can be and how how effective your marketing can be down the line. I also think so another thing which comes into it, which is probably my bias, because I’ve got a bit more of a sort of a Web background is to do with search engine optimisation and search. So, you know, are you looking for a domain name, which is, you know, your domain name matching your brand name? Also, like how that plays out in search, because, for example, in Inessa, if you’re choosing a name, oftentimes people will try and choose a product name that is descriptive of what the product is, because the thinking behind that is is OK. Well, if we have a product name, which is. X widgets for cats dot com. Then we’re going to be able to grab some traffic from Google, from the search engines for people who are searching for that thing because it is in the name and et cetera, et cetera. But probably you have there is is that there? There will be people in your competition who are already doing content and who are trying to optimise for those existing keywords. And the fact that you’ve got the domain name, which sort of matches the keyword is is less important in Google’s eyes than other activities that you’ve been doing, you know, from an NCO perspective. So even though you might get an initial higher sort of organic traffic to your site to sell your widget, that. Over time, you’ll have a lot more competition in the search results for those keywords, and you’ll find it harder to rank your own name versus what other people have because other people are sort of, you know, trying to optimise their content for that exact thing. Whereas if you have something that’s bit more of a nonsense name or a unique word or unique. So sounding word or whatever it might be, you have less organic traffic in the first instance. But the Google actually really likes brand queries. So, for example, if you are. Let’s say, for example, my name. James Bell. If you type James Billett into Google, that’s effectively a brand query for me. People are probably looking for me. There aren’t that many people with my name on the Internet. So they’re looking for me or one or two other people. So Google finds it very easy to serve up a lot of relevant stuff about me, too, to satisfy that search query. So if you have a brand, which is a very unique word, which people aren’t randomly searching for already, but will start searching for it because they know you as a brand and as they learnt about you as a brand, then that makes your position much more defensible from a sort of organic search into perspective. So although you’ll get sort of less organic traffic in the first place, you’ll find it easier to get decent amounts of organic traffic down the line, which could reduce your sort of marketing and advertising spend as you go.

So.

What’s your opinion of naming a product for what it does? So, for example, here in the UK, we have. A company called Ron Sayle, who do kind of like outdoor DIY products. And so all of their products are named for exactly what it does. And very famously, they do it. They have a tagline, does what it says on the tin. It’s like Ron SEAL quick drying would stay in that place is literally is what it does. Like, what was your opinion on those kind of things?

So I agree on what you said as well.

Also, if you if you tried to me to this great descriptive with a product and also you should differentiate your brand from your Prochnik, that’s important. I like the brand, but then each other probes could be the runner that this and that on the on the sneakers and they have t shirts on a lot of stuff. So. So I think that the product at their unique level could be or should be more descriptive because also like it has a short shelf life as bay so that you keep changing that stock and so on.

So. Yeah.

And also trends change. So your brand should stay though. And also coming back to the brand. Nowadays, I would be inclined to recommend that it’s not too descriptive because then by trying to be too descriptive, then you will end up being very similar to many others.

So then it will like if you sell. Beefsteak or meat. And you are like that. You are your brand, these mitman. And then that is a meatball, you know. Yeah. Like whatever. But butcher brothers.

So but if you if your name is like something completely different.

If it’s like a short name, it will take you a bit longer to grind uphill to get people to recognise what’s your brand about. But after they do, it could be cooler. Also, you will find it easier to find what domain that that trademark.

And that makes a big difference. So it’s just lots of practical advice. If you are setting up a company in the U.K., the first thing you should do. Come up with a company name. You should go checking company house. They come by names and then you can cheque on the IPO, Intellectual Property Office, the trademarks. So go cheque for trademarks. They will tell you if there are similar ones, that will could potentially be a blocker of your trademark registration. So I will start from there. And also, you can cheque what the mail saying go daddy or any other site. So with those three, you should get an idea on what’s available for what you are looking for. That’s from from a practical point of view. You’re not going to get any suggestions from there. And don’t be put off. Well, if there are existing names, you was is small. Most likely to be the case.

But you can differentiate by coming out completely different logo or like an elephant riding a bicycle. As I don’t know, something something very unique for life. I think there is these web web servers that cocoa drive. I can remember now their name, but I remember that cocoa’s right. So, you know, so me distinctive for sure. I would rather try to be distinctive you with the logo or the brand name and then be descriptive with the products or services.

Yeah, so how’s Gator? I think you’re thinking.

Yeah, yeah, it is, yeah.

There we go. So if if I was to leave you the audience with any advice, I would say they choose a market where the sort of brand name isn’t too potent. Just smash your hand on the keyboard a bit and just register that domain name anyway. Right. Thanks so much for listening. We’ll be back next week with some more nuggets of knowledge. In the meantime, please do cheque out our YouTube channel, which is where we post this on our other podcasts. You can search for net workers. Two words where you can find the link in the show notes. If you’re interested in a deeper dive into all things entrepreneurial, including more detailed information, help mentorship and courses, please cheque out our Web site, which is up networkers dot co psionics. I think you might.

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