As they say in the movies, it’s all in the name. And when it comes to your enterprise, names are almost as important as the product.
By Craig Falck for Africa Report
Photograph: © Helder Almeida | Dreamstime.com
You’ve had the idea to start an enterprise and you know what product or service you’re going to provide. Now all that’s left to do is come up with a name. The important thing to remember here is that you will have to register it with the companies authority in South Africa, so you will need to give them more than just one option. And that makes things difficult.
One of the requirements from companies authorities is that your name has to somehow be related to your type of business or at least give the public a clue about the type of business that you’re in. You can’t call a computer retailer enterprise “Joe’s Happy Hour Store”. You will need to include something computer related in it, like “Joe’s Discount Computer Store”. This guideline will help consumers to know what it is that you’re involved in as well as help you for when they do searches online or through the digital phone directory because when they search for the term “discount computer”, your name will pop up.
If you’re not creative, don’t worry. While company names are important, you can find inspiration everywhere. Use tools such as search engines, books, even your sight to investigate names that are out there and see if you can’t play around with them. Obviously names such as Incredible Connection and adidas are registered so you can’t use them, but that doesn’t mean that you can’t take the “Incredible” and make your company name “Joe’s Incredible Computer Store”. Once again, the only problem is that you have to register with the companies authority and if they have an issue with this because it’s too similar to an existing name and could cause confusion, the name will be excluded and you will be told to find something else.
You also want a name to provoke a sense or emotion in your clients. When you hear the right name or write it down, you will know. It could be while you’re messing around with a pen and just start doodling, but you will know the second the ink dries. And go with your gut instinct. If you come up with 20 names for your business, rank them in a top 5 of your preference. All that you can do now is submit them to the companies authority and wait.
The right name for a company can be a goldmine. It could become synonymous with an industry, like Jacuzzi, or it could become the one everyone uses, like Google. Don’t rush into coming up with a name for your enterprise – you’ll know when you find the right one.
