There can be no doubt that finding the right name for your business could be one of the most important steps to take when you start one. The right name has the capability to transform your business into a brand that is easily and widely recognized but if you get it wrong, you run the risk of sinking into an ocean of obscurity or even worse, possibly even putting off potential buyers.
So how do you find the right name for your business? For most people the creativity required to successfully execute this step does not come naturally and finding the right name for their business is something of a chore. Not to worry, there are actually a few simple tips you can use to help you come up with a great name for your business.
#1. Think of what you want your business to be known for
Your business name should be something that quickly reflects the values that you want your business to be associated with. While you may have a very long list of such values, you should try to whittle these down to a few of the most important ones and then look for a word or phrase that best expresses these ideals, or in some way conjures mental images that are consistent with it.
#2. Alignment with your goals
What is your end goal for your new business? Do you see yourself ideally, growing beyond domestic markets and into a globally recognized brand? If so, you might want to avoid using names that have strong cultural significance, or might possibly be unacceptable in other cultures.
#3. Keep it short
There’s a reason why the world’s most popular brands are mostly one-word names. Here are some examples: Nike, Adidas, Samsung, Apple, Dell, Microsoft, Toyota, Mcdonalds, and so forth. Of course there are a few with more than one word in their names but you should try as much as possible to keep the name short, catchy and easy to rememeber.
#4. Do your research
To avoid getting into trouble with the law by picking a name that is already taken, you should do your research and make sure that if someone else has already used your idea, you at least make some adjustments or get a new name altogether. This is especially important if you are operating in the same industry.
Finding a name for your new business might be easy but do not rush into it as you might not be able to change it so easily, later on. If you use the tips we have shown you here, you probably will find it much easier to arrive at a name that you love, and that has potential to grow into a brand.