How to Choose a Name for your Business

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How to Choose a Name for your Business

It’s not easy to choose a name that could very well spell the success or failure of your vision. The best names are ones that stand the test of time and reflect the ideals and idea your business stands for. If not both, at least shoot for something that gets across what you’re trying to sell. Abstract names might seem deep and mystic but they don’t tell a story and only leave a question mark. Without a compelling story your business will not stand out.

“In a world where people have a lot of choices, the story may be the deciding factor.” — Nick Morgan

Once you know your story, and how you want to tell it to the world, you’re ready to create a name. It helps to create steps for yourself so you can systematically choose the best name for you. Things to consider when choosing a name are:

  1. Domain name (If you are not considering an online presence—shame on you!)
    • Will your name work well as a url?
    • Is the name still available to be used as a domain name?
  2. Is there someone else in your industry or in an adjacent one that has a name similar to yours?
    • Having others compare your brand to an already established company is not what you want in the beginning. Especially if you’re being seen as a “copy-cat.” A key word is “differentiate.” Stand out!
  3. Is it easily memorable?
    • Are others able to remember the name of your company without you having to remind them.
    • Does it evoke any of your senses? (Taste, smell, sight, touch)
      • Example: Coldstone Creamery—invokes the sense of touch with cold and stone. Creamery invokes the sense of taste and touch in a taste bud invoking manner. Both are relevant to the product and help sell it.
  4. Is it simple to understand and relevant?
    • Don’t be that person that chose a name for baseless reasons—because it sounded cool, I saw it somewhere; it caught my mood, etc.
    • Once your product is out in the market you should not have to explain your name. If you still do then there’s something wrong.
      • Example — Dropbox (once you know the product/service the name should make sense. “Dropbox” is clear and relevant)
  5. Is it extendable?
    • It is helpful to choose a name that can spawn many other ventures.
    • You never know the empire you could be building.
      • Example – (Though this is a product name, it is a great example of a name that became infinitely extendible)
      • iMac, iPad, iPod, etc
  6. Getting help?
    1. If you do decide to get help choosing your business name, it’s better to involve only key decision makers. The less people you involve in this process the better you protect your interests. A good thing to keep in mind when starting any business and involving external parties is that with an idea, “the more the merrier” is never a good idea. Before your idea forms wings, caution is strongly advised. Look up Francis Jenkins and Thomas Armat.

A last bit of advice is DO NOT let choosing a name stall you from making moves on your business. A name should not keep you from building your strategy, putting together financials, even looking for investors and much more. Use a descriptor name and keep things moving till that perfect “ah-ha” moment when your name comes to you.
 
By Joy E. Johnson for the Pink Network
www.joyejohnson.com

Joy Johnson
Joy Johnson
I am a woman with too much ambition and passion for my body. It burns with ideas, dreams, plans, and a desire to follow God's absolute will in my life. I thrive in brand consulting and entrepreneurship but love fashion, the arts, and romance. God made me physically too small for everything bubbling within me but it was because He desired that I share it with the world. With you, on Pink Network, because just maybe what i have to spill on your screen will catch like fire for you as well. Personal blog: notsoskinnydreams.com Professional site: joyejohnson.com
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  • abdulidris

    i agree!! its cool!!

  • Titilayo

    Thanks for the article Joy. It was very informative xoxo

  • ogediamond

    This is exactly what I’ve been looking for

  • amara

    This is what I needed to hear ,this came in handy when is needed

  • amara

    We also have to bear in mind that the business name we give have an impact it can either affect the business positively or negatively so we should be very careful when choosing a business name and make it catchy.

  • bliss

    This is very interesting thank you so much for write up

  • Rosey

    I guess an alternative to when your intended business name has already been taken, it could be translated to another language/dialect, and shortened to make it easy memorable and unique. There would definitely be a story behind the name, as it would arouse curiosity

    • Titilayo

      I agree. I like when business names sound foreign and unique

  • danilo93

    Wooow that’s great….this is helpful
    Nice piece admin

  • eeldris1

    niceone

  • asannwa

    Also we should be able to choose a name that’s pronounceable, meaningful and positive to enable the business stand out from the competitors

  • asannwa

    Nice article and very educative to young entrepreneurs business oriented people.

  • topnet01

    Thanks for this information

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