How to name a business
Selecting the perfect name can be one of the most important and potentially challenging steps of starting a business. While some entrepreneurs instinctively know how to come up with a business name that encompasses what their new venture stands for, others may struggle.
If you're in the latter camp then this blog is designed to help you overcome your business-naming challenges, ranging from domain-registering to title generators.
Simple steps to help name your business
One of the most effective ways to get started with naming your business is going back to the basics. Take time to consider the foundation of your business, what you stand for and what you hope to accomplish, then follow a series of other steps to determine if the name you have in mind is a good one, for example, brainstorm with others, let your ideas cool and revisit them, and before you get too excited by your choice make sure the name is available and can be registered as a domain name.
Styles of business names
Most business names fall into one of the following categories. They include: mainstream words, made-up words, owner's name, what the business does, trendy words, acronyms and nicknames. You can explore all these categories when naming your business to find the one that best suits you and your business.
Free business name generators
If you hit a business-naming block, name generators can help your creative thinking. Based on keywords and other specs you provide, these complementary tools will help you come up with a business name. Even if the one suggested isn't ideal, it can get you thinking creatively again and you don’t have to spend lots of time and money in coming up with a business name. Here is a link to a free business generator website: https://namelix.com
How to develop a domain name
Registering a domain name is an important but often overlooked part of naming a business. Usually, you should create a domain name at the same time you come up with your business name. It should be short, easy to spell, and SEO-friendly. Once you hit on one, you should immediately register it.
With the rise of social media and on-line shopping it’s never more important to have registered domain name for your business even if you don't anticipate creating a website straight away. It’s so important that your business name is the same as your web address and your business e-mail, it helps create confidence and trust in you and your business.
Once you’ve come up with a great business name why not go to https://www.123-reg.co.uk/ and type in your business name and see if it is available and if it is then register it straight away.
The top ten things to a great business name
Once you have a name in mind for your business then get a different perspective from friends and family to see what they think, this might help you anticipate how the name will resonate with the public. It's a good idea to avoid business names that are to cute or pun-filled, or business names that evoke a famous company or brand.
Below are our top ten tips to a great business name
1. Acronyms
Try using the first letter of every word in a phrase or parts of words or names. Some real world examples are AOL (America Online), BBC (British Broadcasting Corporation) and BENQ (Bringing Enjoyment and Quality to life).
2. Mash-ups
Mix two or more words that are meaningful for you and your business. Some examples are Compaq (from “computer” and “pack”), Evernote (from “forever” and “note”), Groupon (from “group” and “coupon”) and Lego (from the Danish “leg godt”, which means to “play well”).
3. Get inspiration from mythology and literature
Do you have a passion for literature or history? Look no further than your Greek and Roman legends! For example, ASUS (from the mythical winged horse Pegasus) and Nike (the goddess of Victory). A character, place or object could also be a good start for a name; like Samsonite (from the Bible character Samson) or Starbucks (from Starbuck, the young chief mate of the Pequod, in Moby Dick).
4. Use your own name
If you’re not convinced by any other names, why not use your own? Many of the most well known brands were actually their inventor’s or their owner’s name, like Bayer (Friedrich Bayer was the founder of the company), Boeing (After William E. Boeing) and Grundig (named after the founder Max Grundig).
5. Take a look at a map
Use a world map to get inspired, just like Adobe (after the Adobe Creek, running close to the founder’s house), Amazon (named after the largest river in the world, by volume of water) and Fuji (named after the highest mountain in Japan) did.
6. Mix things up
Another way of finding a new name for your business is trying various word combinations, such as your name and where you live. Some examples are DKNY (Donna Karan New York) and IKEA (from the founder’s name Ingvar Kamprad and where he grew up: Elmtaryd Agunnaryd).
7. Use nicknames
Using your kids’ names or nicknames might sound a little strange, but just look at companies like Mercedes (named after the daughter of one of the founders) and Danone (named after the founder’s son’s childhood nickname); they don’t sound strange anymore, do they?
8. Use Latin
If you had a Latin language class in school and ever thought that you’d never get to use this in real life, you were probably wrong. Latin is a great source for business names’, take for example Acer (Latin for “sharp”, “able”) and Volvo (Latin for “I roll”), two of the most well-known and easy to remember names. You could also use a Latin word as a start for your new name and add another word to it, like Verizon (from the Latin “veritas”, which means “truth” and “horizon”).
9. Look at your product from another angle
Does your product remind you of something else? Look at it from different angles or ask your friends and family to tell you what your product looks like. Blackberry and Caterpillar are just two examples of names created using this technique.
10. Pick a word from the dictionary
If by the time you read through this list with a pen and pad in hand, you still don’t feel inspired, then you could do like Blizzard and Twitter did and just pick a random word from a dictionary.
Once you come up with your new business name then why not get in touch with Oven Creative and we will design you an amazing logo.
Click here to see some of our logo designs