There are no hard and fast rules when it comes to choosing a new business name, and while a clever and catchy name can crack your target audience, a boring and safe option could mean you’re out of luck.
You can come up with a great name right away, but if you don’t get it right the first time, remember you can always change the name later. Some of the biggest and brightest brands have changed their names to something smaller or less memorable. Remember when LG was called Lucky and Gold star Co
Where to start?
Brainstorming is a good place to start! Sit down and brainstorm ideas with a team member or colleague. Set a brainstorming time limit for yourself and go somewhere outside of your normal workplace (maybe a cake for what you need to relax and create). Remember to keep going even if you find gems.
Takeaway – After brainstorming, let things settle down and the best names will stick in your mind without referring to your notes! Here are some features or guidelines to consider when creating and choosing a new business name.
Does what he says
Find something functional that describes your business. Publicizing your business or operations with your company name to domain can be a great strategy for a startup for obvious reasons. This can be fun, especially if you can hint at something that works, but don’t mention it directly (if it makes sense) which will trigger emotional thinking in your target audience. For example, have you ever heard of “The Brown Company”? Get an idea of what industry they are in before you them. If you plan to expand in the future, this direction may not be right for you, so always think ahead.
Tell a story
A personal favorite. Sometimes a name may just fall into your lap, so always listen, pay attention and remember that ideas come from everywhere. Being able to tell the story behind your business name or how you got your business name can really generate interest and make your business name memorable. Do you know how the world’s largest manufacturer of construction and mining equipment got the name “Caterpillar”?
Short and sweet
The short and sharp name was not immediately forgotten. Can you think of any examples of three-letter names below? Virgin, Apple, Nike to name a few. Using words or small phrases can also be fun, but be careful because they are not easy to understand or find, making them difficult to remember.
The founders of Google could not find his name in any dictionary. Creating a word by adding words or spelling it differently can be risky, but then your target customers will appreciate the creativity and it can really change your market.
Top tips for choosing a new business name
- After brainstorming and listing a few names, here are some ideas and top tips:
- Check company name availability (use online search at Companies House)
- Check domain availability (use any domain registration service)
Try your name on a few people, if you pick up the phone and say “Hey xyz company name”, do you hear it right away? Avoid using acronyms or initials because they can go wrong, but it’s very difficult to create something memorable.