Starting a new business requires courage, passion and creative planning. After coming up with a business plan, talking to potential clients and other business owners, coming up with a business name is what remains! Choosing a good business name is important because that’s what customers will associate you with.
A good business name will make it easy for clients to remember your business, help you with business publicity and help you and your employees to know what you are doing or why you are doing the business in future. There are naming companies that charge a lot of money to help you come up with a business name. However, here are 5 ways you can use to devise a good business name:
This is one of the best ways you can come up with a good business name. you will not only associate yourself with your business but also make it easy for other people to know and remember your business. You may have to make a few alterations of your name to make the business name memorable and effective.
Some people have used their names when creating their business and now they have grown into big businesses. Boeing (named after William E. Boeing) and Bayer (named after its founder Friedrich Bayer) are some of the businesses that owners/founders have used their own names.
The brands you are selling or you are willing to start selling can be the name of your business. A brand naming is very easy and straightforward especially if you are the only business that’s selling the brand. If there are other companies that are selling the same brand or uses the same brand name, you can get creative by using the brand name/your name or twist it to make it unique and functional.
If you are selling several brands, consider using the two brand names when choosing a business name to avoid leaving one or several of the brands out.
When it comes to using acronyms when naming a business, the type of business or the names you are planning to use can make all the difference. For instance, if you have a series or brands or your name is very long, you can use the first letter of every word to come up with an acronym. Remember, you should use a unique acronym to avoid confusing your customers when looking for your business/company online.
Mash-up naming refers to mixing two or more words that are meaningful to you and your business. You should use mash-ups when using a brand, your name or even include the services your business offers. Compaq is an example of a mash-up business name that’s derived from ‘computer’ and ‘pack’). Mashup is mainly limited to your creativity and the type of business you are willing to start.
You can use geographical features in your area or from all over to come up with a business name. The feature can be related to your business or not because your creativity might be very unique. Some business owners have looked at a map and come up with great business names that are known from all over the world. Amazon (named after the largest river by volume) and Adobe (named after Adobe Creek that runs near the house of the founder) are some of the business names derived from a map.
It is evident that coming up with a business name is an activity that can determine the future of your business. You need to be creative, original and resourceful to come up with a good name for your business.