How to Choose the Perfect Name for Your Business

Choosing a name for your business is very important since this is the key element from which your entire corporate image strategy starts. That is why it is essential that your business name convey a concept that impacts.

WHAT NAME TO GIVE MY BUSINESS?

Every entrepreneur sooner or later reaches the crucial point where they have to name their business, give it an identity.

Not an easy thing since choosing a good name is of vital importance, especially because that name will be a long-term choice and it is very much a marketing element that can make the difference between many or few clients .

In addition, your business is your most precious treasure, it is there where you have invested all your savings and surely all your dreams and therefore it must be called something incredible, don’t you think?

Indeed, choosing the perfect name that conveys everything you want is a process that can take many hours and hundreds of sheets of paper before you find it.

But taking the time to brainstorm and analyze your ideas is definitely worth it.

REASONS TO CAREFULLY CHOOSE A GOOD NAME

First, because the name of your business will be the business card that will give the first impression to your clients, a factor that makes it extremely important for its success.

Second, because the name of the company will transcend over time as it is built and grows into a large corporation.

TIPS FOR CHOOSING A BUSINESS NAME

Here are the best tips for choosing the ideal name that makes you feel comfortable with it and some practical ways to find it:

1. Decide The Type Of Name You Want

Descriptive or abstract?
One of the first things is to define if we want the name to be totally descriptive, that is to say that it conveys in it the essence of the company’s business role, or if we want to go on the creative side and create a very innovative name for the business. and abstract.

In some cases it is even a good idea to do some research on Google to find out about the existence of that name or its variants even in other countries in order to find the best matches for it.

Examples of descriptive names:

  • the toy house
  • Latin American Spare Parts Importer

Examples of abstract names:

  • toyland
  • Unireupestos

2. Characteristics of a good name

For a corporate name to be successful, whether it is for a company or a leading product, there are some highly valued features that apply. First of all, that name should be easy to remember and easy to write.

This is essential especially in the information age because you will have to accompany your strategy with a website, your own domain on the web and your social networks.

Making it simple and easy to remember will allow for better positioning both on the Internet and in the mind of the consumer. If possible, try a short name that does not lend itself to confusion.

Oh and it is also important that it is easy to write!

Don’t complicate things with weird names, jumbled letters or confusing terms. Follow the example of: Pepsi, Toyota, LG or Disneyland.

3. Choose a name for your business that bears your last name

Another usual and powerful way that many companies have adopted when choosing the name for their business is to use their personal names or surnames or use combinations that include it.

Examples:

  • copher brothers
  • Mc Donalds
  • Mercedes Benz
  • Ford
  • Wendy´s
  • Ferrari, etc.

This can give you a lot of prestige, especially if your last name already has recognition, probably derived from the achievements of famous or prominent family members.

4. Choose names that directly refer to your product

If your specialty is a product and you want everyone to know it at first glance, this is a great strategy that works and also positions you as a leader in your industry and an expert in your business segment.

Examples:

  • BurgerKing (burgers),
  • PizzaHut Pizza)
  • Multirepuestos
  • Plastic World
  • The House of Candles, etc.

5. Consider a concept as a business name

When we talk about a concept, we are talking about considering a name that means much more than a product, something that can refer to quality, price or benefits.

Examples:

  • Payless
  • Shousource(economic shoes)
  • Maxibodegas (all)
  • I prefer (convenience)
  • Lee Shoes
  • Yellow Pages (directory)

6. Choose a novel and very creative name

This is probably the least simple suggestion. In this case, you can choose as a name for your business a word or term without a special meaning or an illogical word to which you will give the concept over time and the formation of your own brand.

It takes a lot of creativity and ingenuity to find it and above all some intuition because you won’t know if it will be something that really sticks until time passes.
Examples:

  • Yahoo!
  • Google
  • Michelle
  • Starbucks
  • Cetron, etc.

7. Include your region in the name

This strategy will allow you to focus on a special sector or region for your business or make your business more global.

Examples:

  • American Airlines
  • Europa Motors
  • Mexican Parts Center
  • Telmex etc

START WITH A BRAINSTORM

Finally, the best tactic for finding a good business name is to brainstorm with your coworkers, friends, family, and even (and very importantly) some potential clients.

From this brainstorming, we should extract a list of at least 10 most attractive names for the business that are candidates to name our company.

Having that list of 10 names in hand, the next step would be to carry out a survey so that some people can tell us which are the 3 that they like the most and thus obtain the 3 best proposals.

Finally, among them, you must choose the one that inspires you the most confidence and makes you feel more comfortable and safe, because it will finally be the name that will accompany your company for many years.
Actually, there are several ways to find that ideal name for your company, however, remember that the most important thing is that the name is built over the years and becomes a powerful brand.

“It is not the name that makes your company but your company that gives prestige to its name.”

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