A good business name should embody the feeling of your brand. It should be memorable. It should remind your employees why you’re doing what you’re doing.
Finding the right name for your startup can have a significant impact on your success. The wrong name can do worse than fail to connect with customers, it can also result in insurmountable business and legal hurdles.
If you’re looking to own a brand or business soon, this article is definitely for you.
Here’s how to derive a business name:
1. Avoid hard-to-spell names: You need to avoid hard to spell names because you don’t want potential customers getting confused about how to find your business online.
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2. Don’t pick a name that could be limiting as your business grows: Picking too narrow of a name may cause you problems down the road, as you might want to increase what you do in the business as time goes by.
3. Conduct a thorough Internet search: Once you have determined a name you like, do a web search on the name. More often than not, you will find that someone else is already using that business name.
4. Use a name that conveys some meaning: Ideally, you want the business name to convey something meaningful and positive related to your business.
5. Assess if the name is catchy: Obviously, you don’t want a boring name for your business, but you also don’t want to choose something that’s too out there. You want your employees to be able to say where they work without hesitation, and you want your name to resonate with your target audience.
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6. Get feedbacks on the name: Come up with 5 or 10 names and then run them by friends, family members, and trusted colleagues. Get feedback from your target audience as well. And make sure that the name doesn’t have any negative connotations.
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7. Make sure the name sounds good when said aloud: Sometimes names seem fine on paper, but sound awful when said aloud. And if it’s said aloud, make sure people aren’t confused as to how it’s spelled.
8. Make sure you are personally happy with the name: As the business owner will have to live with the name for a long time, so make sure you are happy with it and believe it will resonate with your customers. Take the time to get it right from the start.
Do you own a business already? How did you derive your business name? Let us know in the comment section.
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