Choosing the right name for your business may have a decisive impact on its success. You should choose something that makes you stand out to the consumers and represents the unique qualities of your business. So, what is the best strategy to pick a name that reflects the essence of your company, and remains attractive to your customers? Read on to find out!
Define the target niche
Before you start brainstorming, you must determine which products or services your business will provide to the consumers. Write down the main advantages of your products and think about what makes your business unique. Come up with at least 10 adjectives describing your business and ten things that make your business stand out from the crowd.
When you have a solid understanding of your brand’s concept, it will become much easier for you to find the perfect name to describe it.
Use available resources
Browse magazines, dictionaries, books, and business directories to find the words that seem appropriate to you, or review the names of successful companies and see which names work best and why. Why certain trademarks such as Nike and H&M stand out? What can you do to highlight your business in the same way?
Plan a meeting with your future employees, or even ask your most creative family members and friends to help you out. You have to spend some of your time thinking about the name to get it right. Make it a brainstorming rule: everyone can share their opinion and suggest any name they think might work for your company. The key to effective brainstorming is the ability to work on a list of ideas that have emerged at the moment, and pick the perfect name in good time.
Brainstorm ideas that have a close connection to your business
You should start choosing names based on the strengths, quality and expertise of your business. As the list of ideas expands, you can begin to think more broadly. Here are a few things to remember:
- Take a look outside of your regular niche. For example, come up with names that create associations with feelings that arise in connection with your business: visual, audio, taste, and so on.
- Ask those who help you brainstorm what imaginary or real associations come to mind when they think about your business. For example, when you think about your product, what image comes to mind? Could it be a cool calm sea? Maybe a tiger? Sense of relief? Bitter taste?
- Use real words that are easy to understand and pronounce.
- Do not choose a name that sounds or looks too similar to the name of another brand. For example, Nikey may be spelt differently than Nike, but the sound would be the same.
Write at least 100 names
Even if some of the names sound stupid, they can become your golden ticket. First, while you have not made your final decision yet, write down as many names as possible, and only then you can start sifting out your options.
Be creative. You can come up with a name, for example, “Shigo”, which will embody the essence of your product, not being an existing word.
Consider investing in a professional name selection.
Although professional recruitment services can be expensive and the selection of the best name for your company can take from 6 weeks to 6 months, the result can be truly worth it. If it seems you have thought of every possible option and have not been able to find anything, such an option may work better for you if you have the financial resources to do so.
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