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How to choose a good name for a business?

Choosing a business name can be quite challenging. But here is a guidance for you to choose the best name for a business. A name should be chosen that encapsulates both your company’s values and distinguishing characteristics, if possible.

Alternatively, a naming firm will ask you questions in order to understand your culture and what makes you special that you would like consumers to know about you.

 A good question when searching for a good name for a business would be this: “do you want to fit in or stand out?” Mostly think the answer is standing out.

But what they have failed to consider is that some businesses sacrifice their attention-getting title in order to gain credibility, typically in financial or consulting fields. Here are some useful tips that help you choose a name:

1.      Choose an easy-spelling name

Your business name shouldn’t be confusing in pronunciation to potential customers. By keeping the name simple, you can avoid constantly correcting the misspelled version of your name.

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2.      The shorter, the better

Consider Two syllables are maximum for naming a business. Special characters and hyphens should be avoided. Because many directory listings and algorithms work alphabetically, choose a name close to A rather than Z. In today’s world, it can even help if the name can be easily turned into a verb, such as Google me.

3.      Get the .com domain name.

Rather than alternative domain extensions like .net, .org, .biz, or others, I strongly urge you to opt for a “.com” extension for your company’s website. An established business is usually associated with a .com domain name. Consider your investment in a .com as a business name.

An official company name can differ from the domain name. You can own the same domain name as your company. It is imperative, however, that the domain name reflects your business and can easily be linked to it.

Brand/company owners typically own the best domain names. Area names should reflect the nature of the business and be related to the business name.

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4.      Association of negativity and positivity

All words give a specific emotion. Some have positive emotions, and some have negative emotions which need to be avoided. It is also wise to consider the different meanings of the words in different cultures and nations since they might be a symbol of bad luck.

So do the research and ensure that your chosen name does not have any associations of negativity and bad luck. For example, when they named the new car model “Nova,” they failed to consider that the name means “doesn’t go” in Spanish.

5.      Avoid names that limit the business growth

When choosing a name for a business ensure you choose one with enough flexibility to accommodate your business’s growth. Ask yourself if the name is wide-ranging enough so that in case one day you decided to expand the area you cover or go national, it doesn’t limit you.

Make sure that do you ever want to expand your business or stay in a specific area. And lastly, don’t name your business after current fads or trends.

6.      Avoid general names

Although the name should be in a way that doesn’t limit the future growth of the company, but also it shouldn’t be so general that it doesn’t convey any points and sense of what the company is for and does.

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7.      A meaningful name

Ideally, you want to choose a business name that represents your enterprise positively. Is it clear to people, when they hear the name, who you are and what you do? You can use meaningless but attractive names for your brand, like “Google,” “yahoo,” and “Zappos” did, but they cost more.

8.      Get some feedback

Brainstorm and make a list of names you like, and then narrow the list down to 5 names. Run them by your target audiences, family, trusted colleagues, and friends. Their feedback must be considered so important.

Suggestions for naming a business

There are various ways to choose a name for a business. The following straightforward ways can help you form an awesome company name:

  • Naming after a person
  • Naming by a location
  • Naming with acronyms
  • Naming with descriptive adjectives
  • Naming with inspired nouns
  • Naming in a foreign language
  • Naming in an abstract way

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