Steven Gagnon Gives Tips for Giving Your Business a Name

You may have already come up with an excellent idea for your business name, but it’s important to remember that it’s not just about choosing a favorite.

Your business name will likely be with you for a long time and is one of the first things people see when they think of you. It can help you establish a strong brand identity and stand out from the crowd. Here are a few tips to keep in mind when selecting a name for your business.

Simplicity

When it comes to choosing a name for your business is to make it as simple as possible for potential customers to search for it. Some world’s most famous companies, such as Nike, Apple, and Target, have straightforward names. However, if you try to create a name that’s too clever or creative, it could get you penalized by Google’s algorithm. If you’re not sure if your company’s name is simple enough, consider asking yourself if it’s necessary to explain it to people.

Memorability

Before a sale can be made, a company has various touchpoints with its potential customers. For instance, a customer might stumble across your website and be interested in learning more about what you offer, though they are not ready to purchase yet. A memorable name is significant to ensure potential customers can easily find you again when they’re ready to buy.

Authenticity

A name representing your company’s vision and values is critical to customers. It should also give them a sense of who you are and what sets you apart from your competitors. Having a solid brand identity can help you distinguish yourself from the crowd.

Scalability

When choosing a name for your company, avoid being short-sighted. Instead, focus on choosing something to help you grow and develop a stronger brand. If you’re planning on expanding your business, then make sure that the name you choose will still work even if you do so. Remember that you should also avoid using a specific state or city as your business name. This could cause issues if you expand.

Availability

You should also ensure that you have the necessary legal rights to your company’s name. Although many businesses use the same name, you should ensure that no other company in your industry has the same name. You can also check if other companies are using the same name in your state. You can also conduct a trademark search with the US Patent and Trademark Office.

ABOUT STEVEN GAGNON

Steven Gagnon is the Co-CEO of Los Angeles-based Element Media Group, as well as a lifelong entrepreneur and businessman. Before becoming involved in the entertainment industry, he pursued a career surrounding marine biology and his profound love for the ocean. He attended Roger Williams University, where he obtained a degree in Marine Biology, and, later, the Professional Deep Sea Divers School in City Island, New York.

To Steven, who has worked on at least 25 companies and has consulted young entrepreneurs on many startups, the ability to start something from scratch and watch it grow produces a feeling of pride that is entirely incomparable. The opportunity to see a business develop from one employee into multiple jobs and watching a client base expand represents, for Steven Gagnon, what America stands for. Here, the sky’s truly the limit. It is for this very reason that he felt so connected to the entertainment industry—the process of developing, creating, and bringing stories to fruition furthers the ideals of entrepreneurship he holds so dear.

For new entrepreneurs, who constantly hear the success stories of unicorn startups, failure doesn’t seem like an option or a bump in the road. However, when Steven Gagnon began his career in the eighties, instant success like the kind you see today just wasn’t possible. For new businesses, profitability wasn’t expected until five years down the road. While immediate success is possible for some, it shouldn’t be accepted, and failure should be embraced, accepted, and a lesson learned.