How to discover a Perfect Business Name

How to discover a Perfect Business Name

A business name is far more than just words - it is a representation of your company and brand. The process of choosing a business name may seem simple at first, but there are many factors that play an important role while creating a successful one. David Poulos, director of marketing at Pinnacle Advisory Group, says "The company's name should be something you are proud of and choose one with the intention of maintaining it for years."A good name can also lift you above competitors, help you reach new markets and open doors to further growth.

A good business name should include:

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IMG SRC: istock

  • The business name should focus on the message you want to portray.
  • A good name should be short – two to four – syllables and easy to pronounce.
  • A business name should make you smile rather than scratch your head.
  • Avoid any name that is confusingly similar.

The major concern is whether trademark and domain names are available, and many common words are already taken in these areas."If someone in a similar industry to yours is already using a particular business or organization name, you should not use it, nor should you want to," said Warren Diggles, president and creative director of Diggles Creative.


SHOPPING UPGRADED

The SCRATCH and SMILE test suggested by Alexandra Watkins founder and chief innovation officer of naming firm Eat My Words gives a 12 point evaluation checklist.

SMILE: superb qualities of sticky name

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IMG SRC : legaltrek.com

  • Suggestive : includes something about your brand.
  • Memorable: customers may remember the name easily.
  • Imagery: name should have an impact visually.
  • Legs: lends itself to a theme.
  • Emotional: it moves people.

SCRATCH: 7 deal breakers

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IMG SRC : medium

  • Spelling- challenge: it looks like a typo.
  • Copycat:similar to competitors.
  • Restrictive:limits future growth
  • Annoying: It frustrates consumers.
  • Tame: uninspired
  • Curse: Curse of knowledge
  • Hard to pronounce: Unapproachable

Various methods to come up with a business name:

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IMG SRC: business first family

1. Gather an aggregate of various department staff or consultants to develop a list of characteristics that you want your company to stand for.

2.Craft a series of word combinations that bring out the various character traits and work them into a name that has meaning for the customer.

3. Suggests Polling potential customers rank each name from 1 to 20, based on how well they fit or describe your business.

4. Research each of your top names for the corporate registry trademarks patent and domain name availability.

5. Domain goes for .com because it is the most widely recognized name on the internet.

6. Create a focus group composed of friends and family to analyze your top names and verify the final result.


SHOPPING UPGRADED

You have to live with [your business name] for quite a while, so it should be something you're proud of, comfortable with and that makes sense to the audience you'd like to reach. Don't just randomly pick your first choice without working through some sort of process. Get Smart! Use Safety from the Start...

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