Choosing the right name for a company is an important decision an aspiring business owner has to decide. As exciting as it may sound, it is much more difficult that one thinks. A brand name of a business is the very essence of what the businesses purpose and mission is. How does one come up with a brand name that captures the essence, is creative, memorable and unique? In this article we highlight certain aspects business can think of when choosing a brand name. We also give some insights on how to come up with a business name.
Naming a Business
There are three aspects when naming the business; coming up with a name, following the naming rules of the business structure and checking if the name is available. TRUiC provides a detailed explanation of the naming rules for certain types of businesses as well as where to check for name availability.
Getting creative can mean a lot of different things for a lot of people. Create a space where creativity can flow, get comfortable and have a few snacks and water at hand. A brainstorming session should last for 15 to 45 minutes, take brakes when the 45 minutes are over and more time is needed. Write down at least 4-5 potential business names.
There are a few brainstorming techniques we would like to highlight that entrepreneurs can use. Visualisations is a great way to come up with a business name. Visualise a customer buying or using the product, then see the brand name in your mind, think of the website and packaging and see the business name display on in.
Free writing is also a great strategy when trying to name a business. Just write down any idea that comes to mind for the full 45mins. Don’t analyse or think too much. Just write down anything that pops up in your head.
Business owners can also get personal. Think of good memories or experiences, the places or names of people who have left a good impression and use those memories to come up with a company name.
Rhyming can also be a fun exercise when choosing a name. Think of the product or service and think of rhyming words, put them together and one might have a great company name.
Acronyms can be used for longer business names. Think of a few words that describe the business and make an acronym. Another word play that could be used looking for business names is synonyms. It is a really creative way to get a better, more unique name for a business.
Drawing up a mind map is also a great way to compile and organise all the ideas that have been thought out and worked on. It is important to have more than one business name as there is a chance that the name might not be available, or may not be used legally
Important Aspects to Consider When Choosing a Name Brand
A memorable business name is really important. Business owners want customers to return, and remember their business and its name. The name of the businesses should capture the essence of the business. It is also the first impression it would leave on potential customers. All the business branding and marketing will have the business name on it. Below we have listed a couple of questions to ask before finalising the business name.
12 Questions to Ask When Naming a Business
Does the name contain obscure words?
Does the name convey the mission of a business?
Have trends been avoided in the name?
How does the name sound when it is said out loud?
Is the name simple?
Is the name easy to say and spell? How does the acronym sound?
Is the business name shorter rather than longer?
Is there a geographical location in the name? There should not be.
Is the name distinguishable from other business names in the industry?
Is the name too narrow or literal?
Is the name memorable?
What do other people think of the name?