As an OFW, you get considerably higher take-home pay compared to working in the Philippines. You upgrade your standard of living. You provide a better life for your family.
But then, with this God-given chance, you don’t want to work abroad forever. Now is the time to step back and think of other sources of income that can help you retire. And a business is certainly a great way to start.
The first problem: how do you name your business? We can’t really help you with the exact name. But these are guidelines to assist you in choosing your prized business name.
It Should Mean Something
Your name can make or break your business. For something that will sustain your finances (and if successful, can even extend to the next generation), your business name should mean something.
It should convey what your business is. It should evoke emotion. It should attract the customers you want to attract.
Do Not Pick a Name that will Limit your Business Growth
Stay away from names that will limit your business growth. Take away the geographic markers in your proposed names like “Quezon City Coffee Shop” or “Pasig Best Restaurant” (Unless you just want to cater to that market).
Also, you can avoid product limitations in your wordings. Amazon started with selling books online back in 1995. Imagine if they’ve called themselves Online Books?
Watch out for Mouthful, Confusing, and Pun-Cringed Names
You might be using your creative juices now. But keep it at a controlled level. That “Everlasting Transcendent Coffee ” is certainly meaningful. But it also is a mouthful. I can’t even begin wording it out to my friends.
Confusing names such as “Euarth”. I know that your grandparents Eunice (Eu-) and Arthur (-arth) are important people in your life. But it will take so much money and time to educate people of the essence of “Euarth”. This also goes with Numbers and Initials. Better find a more obvious name.
And puns might be good but make sure that everyone can understand them.
Try Business Name Generators
If you have no solid idea yet, jot down everything that comes out of mind. Don’t worry that it won’t make sense yet. Just keep the ideas flowing.
You can also try free business name generators. Never underestimate the brainstorming process. This can land you your dream business name.
It Needs to Sound Good. Make it Catchy.
Customers really like catchy names. If you followed the tips above, you now have to test how it sounds. Shout your proposed name aloud. Is it easy to say? Do you get some mumbled words? Is it pleasing to the ears?
ake note, as this might be the case for other people as well.
Better if SEO Ready
Search engine optimization (SEO) is important in the digital age. You want people to find you first when you search certain keywords. It is better if your business name is relevant to your target market or to your offered product.
It will not hurt if you check Google to see the rankings of websites for certain keywords . It can be an additional perk when you finally start.
After having a few names on mind, check the Internet for similar business names. You don’t want to get sued when your business starts to take off.
So, scrap that “Star Box Coffee” in your possible name list.
Now, Get Started!
If you finally found the best name for you, go on and start your venture. Register your business. Start the wonderful (and sometimes painful) life of an entrepreneurship.
May the odds be ever in your favor. It’s all worth it.