The way to resolve on an organization identify: instruments, suggestions, and methods
There are dozens of considerations that entrepreneurs need to consider when starting a new business, from logo to product to packaging. However, the company name can be the most important of all.
According to the US Small Business Administration, there are over 30 million small businesses in the US. That means you have to go above and beyond to get noticed. The right name can help you with this.
If you don't know what to name your business, or just want to make sure your chosen name ticks the right boxes, I'm here to help.
In this article, I'm going to cover my top tips for choosing a successful business name, show some examples of what a great business name looks like, and even invite you in a sneaky way to get a ton of business name ideas quickly.
10 tips for choosing a company name
Your company name can be almost anything you want it to be. As long as it's legal and hasn't been used, you're good to go. However, there are several best practices that most legal and marketing professionals agree on.
I recommend the following tips to ensure your business is off to the best possible start.
1. Make sure that the company name is not copyrighted or registered as a trademark
The first step in choosing a company name is to make sure it doesn't violate any copyrights or trademarks. You can search copyright and trademark records online.
I would recommend going a step further and making sure it is possible to feature your brand name. After all, you never know what the future will bring. Even if your plan is to keep your business small, I highly recommend making sure that it is possible to copyright and label your trademark.
If you don't, you could end up in hot water years later. Just look at Apple. When Steve Jobs started the company, he chose the name Apple because he was a fan of the Beatles (their record label was called Apple Records).
Initially there was no conflict as the two companies operated in completely separate industries. However, that was until Apple launched the iPod and iTunes Store. When they were in the same industry, Jobs was quickly plagued by a lawsuit.
2. Make sure that the company name has not yet been taken
This is a no-brainer, but it's important to mention. Ideally, your company name is unique and is not used by any other existing company. At the very least, it shouldn't be used in any way by other companies in your industry.
A quick Google search can help you here. If you get results or domains that suggest another company is already using your name, either as a company name or the name of one of their products, it's time to get back to the drawing board.
3. Make sure the company name is descriptive
You want customers to have an idea of what your business is doing by just hearing your name. You don't have to know anything about TripAdvisor to know it's a travel industry or Burger King sells burgers.
Don't be so descriptive that your name is downright boring, however. Seattle Plumber Inc. isn't exactly inspiring or differentiates your brand from any other plumber in town. First call plumbing is much more catchy and easier to remember.
4. Make sure the appropriate domain name is available
Developing a brilliant company name is just the beginning. Make sure a suitable domain name is available before you can fully commit yourself to it.
If so, buy it.
If not, consider a different company name. A domain name that fits your brand exactly can be a real boost, especially when it comes to SEO.
When your heart is set on a certain name, all is not lost. There are several strategies you can use when your domain name is not available. Adding extra words or expanding your brand name in your URL is becoming more common.
5. Get creative
This is your chance to hug your inner copywriter and let your imagination and creativity run wild. Don't be afraid to make something up. Almost three quarters (72 percent) of the best brand names use made up words or acronyms.
There are mutliple reasons for this. First, existing words already mean something to many of your prospects. You have to decide whether this is a good thing or a bad thing. Second, competitors may use the same or similar words.
6. Don't choose a company name that is difficult to pronounce or spell
You want your brand name to be accessible to everyone. This means that there are no words that cannot be pronounced when you write them down or that are easily misspelled.
Mixing up letters or removing vowels from common words may look cool, but it won't help your customers find your business online. If customers can't easily search for your business after hearing your name phonetically, there's a good chance you're missing out on leads. You will also spend a lot of time crafting your URL for customers.
7. Conduct a search of the foreign minister
One way to ensure that your company name is different from everyone else operating in your area is to do a search for the Secretary of State. Most states have a way of doing this easily online. So all you have to do is go to your state's website and enter your suggested name.
If in doubt, ask your lawyer for help. I would also recommend looking in Delaware even if you don't live in that state. Delaware is a corporate registration haven. By searching there you can make sure no other companies in the country have similar names.
8. Get feedback on the company name before making it official
Test your company name on your friends and family and get their feedback before you commit. While you may think you have looked at your name from every angle, the chances are that you may have missed something.
If you're still unsure of a company name, give people a shortlist of your ideas and ask them to pick their favorite. If everyone agrees, you may have just found your new name.
9. Choose a company name that is not accidentally offensive
Make sure your company name doesn't mean anything offensive in any other language or slang.
No self-respecting business owner wants to offend potential customers. However, dozens of companies are doing this without knowing it from their company name.
Just because your company name isn't offensive in your own country doesn't mean it's harmless anywhere. Any language or cultural issue can mean bad news for companies looking to expand overseas.
Fortunately, it has never been easier to verify whether or not your company name is offensive. Just go to WordSafety.com and enter your suggested name. The site will quickly determine if there are any potential problems.
10. Keep it simple and easy to remember
Long, complicated company names are bad news. The shorter, catchier, and more memorable your name is, the better. Try to keep it under 20 characters for your URL and avoid combining more than three different words.
Examples of great business names
Tips and guidelines aren't always enough to get the creative juices flowing. That's why I've rounded up five examples of great company names below, and outlined what makes them so good.
Hopefully this will give you a starting point.
In a parallel universe, someone is currently looking for something on BackRub. This is the name Google was originally called because of the backlinks that websites were rated with. Eventually they settled on googol, a mathematical term for a number with a million zeros. Google's final brand name was the result of an employee's spelling mistake.
In the end, it worked out great. The name is catchy, creative, and random. "Google" is also easier to spell, remember, and pronounce than Googol.
Whole food market
Whole Foods Market is the most meaningful name on this list, and it's one of the reasons it's so effective. It sends subtle signals that attract the brand's target audience.
Choosing the word market instead of grocery or shop was a stroke of genius in this regard. The market conjures up images of farmers' markets and suggests the goals of wealthy consumers for whole foods.
Lego
Lego is a simplified portmanteau of the Danish words leg godt and means "to play well". Ingeniously, Lego also means “I put it together”, so the name works on two levels.
In addition to being descriptive of the domestic Danish market, the name sounds great in other languages as well and has no additional meaning.
Pepsi
Caleb Davis Bradham, the inventor of Pepsi, originally named his preparation Brad & # 39; s Drink. Fortunately, it was renamed three years later. Pepsi is derived from the word dyspepsia, which means indigestion, as Bradham believed the drink aided digestion.
Pepsi is far more creative and memorable than Brad & # 39; s drink. Perhaps most importantly, the new name in no way contradicts Coca-Cola, which was only created a few years earlier.
Verizon
Verizon was founded in 2000 through the merger of Bell Atlantic and GTE. The company name combines the Latin word for truth, veritas and horizon to denote the honest and forward-looking nature of the new company. It's creative, it has meaning, and it's definitely unforgettable!
Use a Business Name Generator to find your perfect name
If you're still stuck, help is available in the form of company name generators. There are numerous software tools that entrepreneurs can use to quickly develop company names.
Here are a few to try:
Shopify
Shopify is famous for helping small business owners thrive. Developing a brand name is no different. Enter a keyword in the search bar and Shopify instantly spits out 100 company names that you can use to create a business from today.
Freshbooks
Freshbooks accounting software has a fairly comprehensive company name generator that can tailor recommendations based on your industry.
Begin your search by choosing whether you work in creative and marketing, legal or business services, commercial and household services, or IT. Enter a keyword and Freshbooks will give you three suggestions. You can ask for more suggestions or change your keyword to get a different range of names.
Namelix
Namelix is a free AI-based generator for company names. First, enter one or more keywords and filter the suggestions by name, length and style. There are hundreds of names to flip through and a mix of basic and premium names. Premium referrals come with a logo and domain name to make building a brand easier.
Conclusion
The right name can have an impact on your SEO, branding, and customer perception. Would Google be where it is now if it were Backrub? I do not believe that.
The business landscape is becoming more competitive by the day, and a good company name can help your brand stand out.
Get inspiration from some of the great company names that already exist and use a company name generator if necessary. Just make sure your company name prepares you for long-term growth.
What will you name your new business? Let me know in the comments!
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