Coming up with a business name that is effective in creating your brand can be just as difficult as establishing the business idea itself, according to Wells Fargo. It’s extremely important to think of how people will perceive the name of your business.
Jose Palomino, President of Value Prop Interactive, says that “your branding strategy should focus on what you want people to think, feel, and remember when they look at your product or service.” When it comes to naming a business, brand fit is vital.
Karyn Greenstreet, owner of Passion for Business, says that “when we’re talking about naming a company, we’re really talking about branding. If you name your business Joe’s Consulting and Tackle Shop, that’s confusing. It doesn’t tell customers what, exactly, your business does. Your business name should be unique and clear.”
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How To Come Up With A Business Name
The first part of naming your business is where you can really let your creative juices flow. It’s best to start by brainstorming a minimum of 4-5 possible business names. Ideally, you want to come up with a couple of memorable and unique names.
This process should take you about 15-45 minutes and you should do tracking work from home it when you are really relaxed. Think of things like water and snacks, a comfortable place to sit, and a pen that you love.
It’s advised that you use a timer and stop when it goes off. If you see that you haven’t finished, then take a 15 minute break before you start your timer again. Remember that the more you brainstorm, the better chance you have of finding a name that really represents your brand.
These are some creative brainstorming techniques that will really help you find the perfect name:
- Visualization
- Word-association
- Free Writing
- Get personal
- Rhymes
- Acronyms
- Synonyms
- Mind Map
Visualization
It’s really helpful to close your eyes and imagine yourself as a client of the business that you’re hoping to form. Which words are ideal to describe what you’re selling? How would you describe not only the services, but also the atmosphere? Imagine the adjectives that you would use and
Word-Association
Think about a collection of random words and write them down. After that, jot down any words which link your random words to what your business stands for, the services you offer, or the product that you’ll be selling.
Free Writing
Just keep your pen to paper up until the timer ends. Don’t curb your ideas or think about whether they’re good or bad. For this exercise, you just have to keep writing.
Get Personal
Really use your own experiences as inspiration, especially in relation to significant memories. Take those moments and use appropriate language to make others feel the same way as you do. You can use your own name or last name; the name of someone who has served as a mentor to you; or just the name of someone who is important to you.
Rhymes
This is a very popular form of word play and it’s a great way to find a business name. Think of words that sound similar and that relate to your business. You can then put them together to create a name that people love saying.
Acronyms
This is a fairly simple naming method and it’s quite simple. An example is TRUiC – The Really Useful Information Company which also outlines the objective of the business.
Synonyms
The most creative names are often acquired from synonyms which can describe the business by thinking about more unique, and similar, words. One really easy method of doing this is through a quick Google search on words which are connected to your business. One example relates to forming a business as a make-up artist. Some words which are associated with beauty are pretty, stunning, and gorgeous.
Mind Map
This is another popular way of getting creative juices flowing – start the process by drawing a circle and writing “my business name” in the circle. A web of ideas generally come to you as you’re brainstorming.
Important Questions To Ask Yourself:
TRUiC provides twelve questions to ask yourself regarding how to come up with a business name.
- Is my name simple?
- What does my name sound like when I say it aloud?
- Is the name effortless to pronounce and spell, and does the acronym look fine?
- Is my business name short, or is it too long?
- Did I use a geographic location in my name? This generally isn’t a good idea.
- How do others perceive the name?
- What does my name look like compared to the names of other businesses in the industry?
- Does the name do justice to the mission of your business?
- Did I stay away from trends?
- Does the name incorporate words that people don’t really know?
- Is my name too limited or too literal?
- Will my name be remembered by potential clients?