Make naming a new business quick and easy - find your answers below:
Domain name is not a legal requirement in most jurisdictions, although it is already possible to regisiter a company without physical address, relying only on online presence. It is however a wise and prudent decision to secure your domain name, reflecting exactly your brand name, at an eraly stage of company formation. Any attempt to postpone it is possible, but incure significant costs.
Some businesses rely on social medie presence, only to realise later that it leaves them vulnarable, and at the mercy of any change in social media company rules and policies, which are aimed at maximising profit at the exense of small businesses. At some point they realise, they have become hostages of social media regulations. Others chose to register an alternative extension domain as their main Online address, which causes them to inevitably spend a six or seven digit amount later down the line to get the necessary dot com domain.
Domain name rights are secured by independed, ICANN approved registrars, who make sure that your rights to the domain name will be safeguarded.
That strongly depends on marketing goals that the business entiety has put in front. A short, versatile, unique brand name leaves much more room for growth and expansion than a descriptive name, but also requires more marketing effort to increase consumer awareness early in the life of a company.
Before deciding on the new company name a startup owner needs to complete a list of qualities and values the new company name should reflect. It should rsut in the general impression, a vibe or message that the new name is required to deliver. Is it a vibe of professionalism or rather a relaxed impression? Is to strong or rather subtle and refined? Is it international or rather localised in it's style? Those answers will make it easier to direct asearch for new business name towards the more suited brands.
Remember that the primary purpose of a business name is to provide a vehicle of business identity. It might sound complicated, but the idea is that yor brand name must allow your company to be easily distinguished from the competition and secure your Online presence so that every dime you spend on marketing your name really serves your company, and not a similar but more popular competitor.
Sure, rebranding is always an option, but it becomes more expensive further down the road, when you had already invested in your brand name, customer awareness and Online presence, and most of these expenses might need to be repeated if you rebrand.