Coming up with a great business name can be
extremely difficult.You have to take into account the products
you sell, your audience, and your plans forthe future — and that’s if you manage
to find a name that’s even available.Plus, it can be a nightmare to change your
name later down the line.So, you need to get it right first time.Hey guys, it’s Jessica with Oberlo.Today we’re sharing 8 ways to choose the
perfect name for your dropshipping store,and 3 mistakes to avoid.Business Name Option #1: Use your Own Name
Many iconic brands have been built using thefounder’s name.Some people choose to use their full name,
like Calvin Klein and Daniel Wellington.But most founders use only their last name,
like Burberry and Disney.Some founders adapt their name slightly, like
Adi Dassler — the founder of AdidasIf you’re co-founding a business with others,
you might want to group your names together.Warner Brothers did this, founded by brother
Harry, Jack, Sam, and Albert Warner.Before you use your own name for your business,
however, think about the implications.As the founder, do you plan on being the public
face of the company, like Vaynermedia’sGary Vaynerchuk?Or would you prefer to be more personally
anonymous?Also, bear in mind that a business named after
you may be more difficult to sell, shouldyou wish to do so down the line.Business Name Option #2: Name Your Business
After the Problem You Solve, or the DesireYou Fulfill.This is a great way to draw attention to the
benefits of your products.For example, the company ‘Fat Blaster’
is named after the problem they solve.Immediately, you know that this business helps
people to lose weight.On the other hand, you could name your business
after the desire your product fulfils, like,the dating site, Chemistry.com — whose customers
are likely searching for chemistry with aspecial someone.Bottom line?Every business either solves a problem, or
fulfills a desire.Which does yours do?And, how you can you incorporate the benefit
you provide into your business name?Business Name Option #3: Use Alliteration
This is a simple and effective way to comeup with a catchy business name.Many businesses have used this technique,
like Fitness First, Paramount Pictures, AmericanAirways, and Weight Watchers.To use alliteration, first, take the industry
you’re in, or the core thing that you provide— like, ‘fitness.’Then, add another word beginning with the
same sound, and which adds meaning.In this case, putting fitness ‘first.’Is there a way you can incorporate alliteration
into your business name?Business Name Option #4: Use a Normal Word
This is hard to do well.Not only do you have to find a word that’s
free to use…You also have to work hard to ‘own’ that
word in the mind of your target customers.Another thing to bear in mind, is that a single
word can be incredibly difficult to trademark.That said, using a single-word business name
can be a powerful way to establish your brand.Take business names like Target, Alphabet,
Gap, Apple, Pandora, and Yelp.When I say the word ‘Amazon’, chances
are, you don’t think about the world’slargest river, but the online store.Although some of these are just random words,
others have thought behind them.Amazon’s founder, Jeff Bezos, cleverly relates
the world’s largest river, with what hehoped would become the world’s largest store,
selling the most products in the world.But, if you can’t find a normal word that
works, you can always try…Business Name Option #5: Put a Twist on a
Normal WordNow it’s time to get really creative.If you struggle to find a single word that
represents your business, and is not alreadyin use, try changing the word slightly.Businesses that did this well include Fiverr,
spelled with two ‘R’s…Toggl with the ‘E’ dropped from the end
of the word…Xero, spelt with an ‘X’ instead of a ‘Z’…… and ‘Digg’ spelt with two ‘G’s.On the plus-side, you’re more likely to
find an available domain name using this tactic.But, on the down-side, there’s a chance
people might spell your name wrong, or havetrouble finding you online.Business Name Option #6: Mash Two Words Together.This is a popular way of naming a business.Simply take two words that represent your
business, and combine them to create a newword.A good example is ‘Netflix.’‘Flick’ is slang for ‘movie,’ and
‘Net’ is short for ‘Internet’.Flicks on the net.Netflix.What’s more, Netflix also put a twist on
the spelling of ‘flicks’, changing itfrom ‘F-L-I-C-K-S,’ to ‘F-L-I-X.’Another example is Microsoft, whose name is
made from the words ‘microcomputer’ and‘software.’Or Groupon, which is made from the words ‘group’
and ‘coupon.’Or, take the business name Walmart.Founder Sam Walton, took the first part of
his last name ‘Wal’ and combined it withmart.List out a few words that represent your business,
and see if you can combine any of them ina unique way!Business Name Option #7: Use an Acronym
Many business’ choose to shorten a lengthyname into just the beginning letter of each
word.For example, IKEA created a new word from
an acronym derived from the founder's initialsand hometown.When the Hongkong and Shanghai Banking Corporation
wanted to expand internationally, they shortenedtheir name to HSBC.Kentucky Fried Chicken became KFC, and the
fashion brand ASOS originally stood for ‘AsSeen on Screen.’But, acronyms are often difficult to remember,
and they can be difficult for SEOSo, if you decide to use an acronym, try to
make it short and sweet like KFC, or soundlike it’s its own word, like IKEA.Lastly…Business Name Option #8: Use a Business Name
GeneratorIf you’re still struggling to come up with
a great business name, check out Shopify BusinessName Generator.There’s a link to it in the description
below.In this example, I typed in the word ‘yoga’
to generate business name ideas for a yogadropshipping store!This is a great way to find inspiration and
spark ideas — you might just find the perfectbusiness name in minutes!Okay, that brings us to the end of our 8 ways
you can choose your business name!But before we end, let’s touch on 3 common
mistakes to avoid when choosing your name.Mistake #1: Not Doing Your Research
Entrepreneur and author of ‘#GirlBoss’Sophia Amoruso, didn’t do her due diligence
before starting her clothing line called ‘NastyGal.’And, here’s the kicker…After launching her ecommerce store, she found
out that NastyGal.com was a porn site…Eventually she managed to buy the domain for
thousands of dollars.The moral of the story?Always do your research.Is there anyone else out there using the name
you’re considering?Are the domains and social network handles
available?Will you run into any legal issues?Also, check if your name means something different
in another language.There was a brand of toilet paper from Sweden
called Krapp – spelt K, R, A, P, P…Mistake #2: Not Being Culturally Sensitive
Ask yourself: Would my business name offendanyone?Avoid names that could be interpreted as mocking
someone’s race, ethnicity, sexuality, physicalabilities, and so on.It’s a good business practice, and it’s
just plain respectful.Mistake #3: Using More Than Two Words
Long names are hard to remember, and theyaren’t as catchy as short ones.In addition, many social media sites restrict
the character count of usernames — for example,Twitter only allows usernames of up to 15
characters.Keep your name to one or two words.If you scroll through the list of Fortune
500 Companies, you’ll see that most companiesstick to this rule.And, if you’re struggling to get your message
across in just one or two words, that’swhat taglines are for!Okay, that brings us to the end of this video!Remember, as Gary Vaynerchuk said, “Business
names are made.”So, whatever name you choose, it’s what
your name comes to represent that really matters.You may not come up with the perfect business
name on the first try, but that’s ok.Get creative and brainstorm as many options
as possible!Do you have any tips on choosing a business
name?Let us know in the comments section — we
read them all!Thanks for watching, and if you enjoyed this
video, hit the subscribe button and turn onthe notifications bell for more videos on
how to grow your dropshipping business!And until next time, learn often, market better,
and sell more.
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