Pros: 1. Personal branding: Using your own name might assist you in creating a personal brand that may be beneficial to your company. Using your name can help you take advantage of your reputation in your field and gain the trust of your clients. Using your name as your company name can make it simpler for people to find you and remember who you are because it is something they are likely to remember. 3. Flexibility: Choosing your name as the name of your LLC also provides you the freedom to alter the direction of your company at a later time. You can simply pivot your firm without having to rebrand because your name doesn’t tie your company to a certain sector or line of goods. Cons: 1. Lack of privacy: If you use your name as your company name, the public will be able to see your name and contact information. If you respect your privacy and wish to keep your personal and professional lives separate, this can be a problem. 2. Limited imagination: When it comes to branding and marketing, your name might not allow much space for imagination. In a crowded market, this may make it more difficult to stand out. 3. Not memorable: Even while your name may be simple to recall, it could also be forgotten. Your name might not be as memorable as a catchy or original company name if it is common or challenging to pronounce. Can I Utilize a Trading Name?
You can use a trading name, commonly referred to as a “doing business as” (DBA) name, for your company. This enables you to conduct business under a name other than the one you registered as your company’s legal name with your state. You may register a DBA name like “Smith’s Solutions” and use it for marketing and branding if, for instance, your legal name is John Smith LLC.
The name you registered with your state when you founded your LLC is the official name of your company. Your legal documents, licenses, and tax forms will all bear this name. If you decide to use a DBA name, you must include it on your business license and other legal documents as well as register it with your state.
There isn’t such a thing as a “lucky” business name. Your product or service, your marketing plan, and your capacity to satisfy client wants are just a few of the variables that will determine the success of your firm. While having a memorable or catchy name might aid in branding and marketing, success is not always guaranteed.
The best company name is a matter of taste and subjectivity. Google, Amazon, and Tesla are a few names of cool companies. These names stand out from the crowd, are memorable, and have come to represent their respective sectors. But what could be hip to one person might not be cool to another, so it’s crucial to pick a name that appeals to your target demographic and embodies your brand’s core principles.