If you are thinking of starting your own business, the first thing you should consider is giving your company an interesting business name. While many people don't take it seriously, it is one of the most significant tasks. Why is choosing the right name for your company so important and how can you select the best name? In today's article, I will tell you why and how to come up with a business name that will add value to your company.
Why come up with a business name that's original and memorable?
When launching a new venture, most business owners are too busy working on their business fan, acquiring funds, setting up the business, etc. So, most people do not spend much time exploring brand names for their small business.
The name for a new business is a crucial part of branding as it is through the name that you will introduce your company to the world. The customers will recognize your products from the name and so, you have to find a great business name.
Not sure how to choose a business name? Then scroll down as I have some nice tips to help you narrow down your choices.
How to give a great business name: business name ideas
1. Make sure it's easy to pronounce
Customers hate it when a name is difficult to spell or pronounce. In today's fast-paced world, people's attention is constantly shifting. Imagine that they come across your brand in a mall while they are on their way to a favorite restaurant. If the name of your business is too tough to memorize, do you think they will be able to recall it after they return home? Similarly, if the spelling of the company name is tricky, how will they search your business online?
2. Be original
You want to impress the world with your amazing products/ services. So, shouldn't your business name be something that will reflect your unique perspective? If you end up mimicking or copying a similar name from one of your competitors, will it have the same effect on your target audience? On the contrary, each time people see the name of your business, they will be reminded of other company that has the same kind of name. So, pick a good business name that's all yours.
3. Keep it relevant
Don't go overboard with selecting a unique business name. While uniqueness is desired, the name should also mean give your customers some idea about your company. It should mean something to you. That's because a meaningful name is a powerful one and it serves the purpose of elucidating the brand’s values and offerings.
4. Be Strategic
Don't be too quick to finalize your new name. Ask yourself if the name you've selected defines your company's strategy. When you bring strategy into the process of naming, you can be certain that the name will be sending the right signals to your target customers. It will also align with the business and brand strategy, taking the competitive and cultural background into account.
5. Check name availability
Once you have narrowed down several domain names, you need to find out if each domain name is available or not. You must check that the name that appears in the URL of the company's website is not the trademark of some other company. If the name is already taken by an existing business, using it might land you intro legal troubles. Therefore, without confirming this, do not proceed.
6. The name shouldn't stand in the way of business growth
Wondering how that's possible? I'll tell you!
When you name a business, it is advisable to keep in mind your short-term and long-term goals. For instance, if you will open a woman's boutique now, you may feel tempted to use a name that relates to the female gender. What if after five years you decide to design men's clothing as well? By then, your customers will already be familiar with your name and changing it will confuse you.
7. Use resources
Are you struggling to find a name? Many websites and books can guide you. You can go through some online thesauruses and dictionaries, and you will soon find a catchy name that would feel right. Another way of doing the name search is workshopping with family and friends.
Hiring a Professional Namer: Yes or No?
Turning to naming consultants is not uncommon as they are experts in business naming strategy. They usually understand their client's business, do detailed research, and then recommend names. So, if you are finding it challenging to choose a name, you may get in touch with a professional.
Should you use a business name generator?
A business generator is an online tool that assists entrepreneurs by suggesting catchy names. Once you submit keywords that are related to your company, a list of names will be generated. The tool also does the job of checking the availability of those names. So, many businesses rely on a name-generating tool for the following reasons:
- To save effort and time
- Keyword optimization
- For creative inspiration
- These handy tools are cost-effective
The Final Thought
So, remember all the above-mentioned factors when you name your business. As stated already, there are professional gamers and online name generators and you can take some help from them as well.
