Naming your private investigations business
What to avoid and what to consider during this process
Coming up with a business name for your private investigations agency is, perhaps, the hardest thing you’re going to do.
Your business name will be directly linked to your ability to grow and expand into different markets. Don’t trap your company in a corner. Here are 6 things to consider when you’re choosing your business name.
Your business name should be able to tell people exactly who you are. An acronym may sound great to your family and friends, but it won’t convey your services to your clients.
We often times run into people who are adamant in creating a name around an acronym they find interesting or cool. So rather than coming up with a company name like “Government Employees Insurance Company” and rebranding it to GEICO, most people come up with the acronym first and then try to build a name around it.
The biggest problem with acronyms is that you’re essentially creating two different names for your company – the full name of your company and an acronym. This means you have to do twice the work to brand your agency. You’re also going to lose clientele from word of mouth that look for your formal name rather than your acronym and vice versa.
While we’re on this topic – try to avoid names like NSA, CIA, NIA, FBI, Etc. While they make for cool acronyms, most people will try to avoid you.
Unless you are a serial entrepreneur, starting a company and selling it off 2-3 years down the road is not in your business plan. However, when you start a small business that becomes successful, you will eventually attract the attention of interested buyers.
If you used your name as your business name – Ruben Roel Investigations – when you sell off your company, your brand equity will go with you.
The company will no longer be a valuable asset to a buyer when your name is on the business and you’re no longer around to steer the wheel. Sure, you can sell your clients, but they’ll eventually ask questions about where you went.
There is an exception: If you are planning on starting a business with the intentions of closing its doors down when you retire, then a personal name will give you the ability to charge more and be more personable to a client because you will be considered a specialist. Like an attorney, a counselor, an actor, or musician.
Businesses that have personal names attached to them are successful because they are attached to one particular person who is good at their job. Think about this as you chose your agency’s name.
The biggest mistake companies make is closing down their market by choosing a company name that limits their services to a location.
Avoid names that are tied to a particular state, city, service, or market. Dallas Texas Legal Investigations limits you to Dallas Texas Legal Investigations. Do you offer services in other cities? Yes, but that’s not what your name says.
But what about SEO? – We get people to rank in Miami, Tulsa, Dallas, Wisconsin, you name it. Google could care less if your name is Powerhouse Investigations or Tulsa Private Investigator – Forget about SEO purposes. Keyword-Specific Domain names don’t hold the same weight in 2015 as they did in 2005.
The most popular company name, on the web, is Advantage Investigations. This means that when you get a word of mouth referral, your company better be at the top of Google or you’ll risk marketing your competitor’s company instead of yours.
Coming up with a unique name is hard, which is why often times people resort to [Last Name] Investigations. What we recommend is to think about your history, where you come from, what you’re planning on doing, the direction in which you want to steer your company, what are your core values and beliefs, and what is the purpose of your company within the industry.
Viewing your company as a whole will help you see a pattern which will help you think of a name that can fit your needs.
Don’t take a domain name from another PI company and change the TLD from .com to .co, .net, .org, etc. The problem is that most people are used to typing in .com at the end of an e-mail.
If your competitor uses advantage.com and you buy advantage.co, when your clients accidentally type in .com, they’re going to be going to a company that can offer them exactly what they’re looking for.
If a .com version of a domain name belongs to a competitor, keep on searching until you find a domain name that will be unique to you.
If you’re having problems in naming your company, give us a call or send us an e-mail. We’d be more than glad to work with you in finding the perfect name for you agency.
Last but not least, make sure that you name your agency something memorable and easy to spell. Avoid Homophones – words that have different meanings and are spelled differently but sound the same: Rain, Reign, Rein.
A client of ours has a company called Ouachita Investigations. When you’re on the phone, people hear it as Wichita. It’s also very difficult to spell out.
Consider these mistakes as you name and start up your investigations agency. When done correctly, a brand-able and solid name will help your company grow.