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How to Choose the Perfect Name for your Business

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How to Choose the Perfect Name for your Business

Choosing a name for your business is very important because this is the key element from which all your corporate image strategy starts. That’s why it’s essential that your business name conveys a concept that makes an impact. In this post, I’m going to share with you the best tips to choose the commercial name for your company.

What Name to Give to My Business?

Every entrepreneur sooner or later arrives at the crucial point at which he has to baptize his business, to give it an identity.

This is not an easy thing since choosing a good name is especially important because that name will be a long-term choice and it is very much a marketing element that can make the difference between many or few customers.

Besides, your business is your most precious treasure, it is there where you have invested all your savings and surely all your dreams and therefore it should be called in an incredible way, don’t you think?

Indeed, choosing the perfect name that conveys everything you want is a process that can take many hours and hundreds of sheets of paper before you find it.

But taking the time to brainstorm and analyze them is definitely worth it.

Reasons To Choose A Good Name Carefully

First, because the name of your business will be the business card that will give the first impression to your customers, a factor that makes it extremely important for the success of it.

Second, because the name of the company will transcend over time as it builds and grows into a large corporation.

Tips for Choosing a Business Name

Here are the best tips for choosing the ideal name that makes you feel comfortable with it and some practical ways to find it:

1. Decide on the Type of Name You Want

Descriptive or abstract?

One of the first things is to define if we want the name to be totally descriptive, that is to say, that it transmits in the same the essence of the business role of the company, or if we want to go for the creative side and create a very novel and abstract name for the business.

In some cases, it is even a good idea to do a Google search to find out about the existence of that name or its variants even in other countries in order to find the best matches for it.

Examples of descriptive names:

  • The house of the toy
  • Chandilal Gift Shop

Examples of abstract names:

 

2.Characteristics of a good name

For a corporate name to be successful, whether it’s for a company or a leading product, there are some valuable features that apply. First, that name must be easy to remember and easy to write.

This is especially fundamental in the information age as you will have to accompany your strategy with a website, a domain name on the web and your social networks.

Making it simple and easy to remember will allow a better positioning both on the Internet and in the mind of the consumer. If possible, try a short name that does not lend itself to confusion.

Ah, and it is also important that it is easy to write!

Don’t make things complicated with strange names, fancy letters or confusing terms. Follow the example of Pepsi, Toyota, LG or Disneyland.

 

3. Choose a name for your business that carries your last name

Another usual and powerful way that many companies have adopted when choosing the name for their business is to use their personal names or surnames or to use combinations that include them.

Examples:

  • Mc Donalds.
  • Mercedes Benz
  • Ford
  • Ferrari, etc.

This can give you a lot of prestige especially if your surname already has a recognition probably derived from the achievements of famous or outstanding relatives.

 

4. Choose names that refer directly to your product

If your specialty is a product and you want everyone to know it, at first sight, this is a great strategy that works and also positions you as a leader in your industry and an expert in your business segment.

Examples:

  • Coca-cola
  • BurgerKing
  • PizzaHut
  • Plastic World

5. Consider a concept as a business name

When we talk about a concept, we are talking about considering a name that means much more than a product, something that can refer to quality, price or benefits.

Examples:

  • Payless
  • Coinsutra
  • Lee Shoes

This allows us to convey to the customer an even broader idea of what your company can offer.

 

6. Choose a new and very creative name

This is probably the least simple suggestion. In this case, you can choose as a name for your business a word or term without a special meaning or an illogical word to which you will give the concept with the passage of time and the confirmation of your own brand.

It takes a lot of creativity and ingenuity to find it and above all some intuition because you will not know if it will be something that really hits until time passes.

Examples:

  • Yahoo!
  • Google
  • Starbucks
  • Amazon

 

7. Include your region in the name

This strategy will allow you to focus on a special sector or region for your business or make your business more global.

Examples:

  • Airindia
  • American Airlines
  • Europe Motors

It Starts With A Brainstorming

Finally, the best tactic to find a good business name is to brainstorm among your collaborators, friends, family and even (and very importantly) some potential customers.

From this brainstorming, we should extract a list of at least 10 most attractive names for the business that are candidates to baptize our company. Having that list of 10 games in hand, the next step would be to conduct a survey so that some people can tell us which are the 3 that they like most and get the 3 best proposals. Finally, among them, you must choose the one that inspires you more confidence and makes you feel more comfortable and safe because finally, it will be the name that will accompany your company for many years.

In reality, there are several ways to find that ideal name for your company but remember that the most important thing is that the name is built over the years and becomes a powerful brand.

And of course remember the great principle in business: follow what your intuition says.

It’s not the name that makes your company but your company that gives prestige to its name.

Satyajit is an entrepreneur, business graduate, content strategist and founder overseeing contributed content at Zepper.in. He is passionate about writing stuff for startups. His areas of interest include digital business strategy and strategic decision making.

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