Picking the Perfect Name for Your Business or Startup

Picking the Perfect Name for Your Business or Startup

A lot of people have the misconception that starting up a business only needs a good plan and the capital. They believe their first challenge will be met in getting a good product or achieving sales. Though this is all true,  their first real obstacle will be picking the perfect name for your business or startup . Yes, it starts that early. This is because the name tells a lot about the business.

Often people think that it is a good idea to get suggestions from others. While they might help by providing a fresh perspective, usually they will just point you in the wrong direction and end up confusing you. You should start the naming process by yourself and then offer your shortlist of possibilities to others to vote on. To help choose a great business name we’ve got the following tips.

Step 1: Understand What Goes Behind a Good Name

This is something that is more or less common sense for everyone. However, because it is common sense, the strangest part is that most people tend to forget to apply it when it really matters. Good company names should usually be catchy, easy to pronounce and memorable. It should say something about the company.

Step 2: Come Up With as Many Names as You Can

This is the brainstorming section. You wrack your brain for as many relevant names as you can come up with. They don’t even have to be good. Trimming and selection come later. Keep a few keywords in mind and try to make up names around those keywords.

Step 3: Come Down to the Best Few Names

This is possibly the section that will take the most time because it is one where so many names will seem tempting. The best thing to is to go through all the positives and negatives of each name. Think about possible outcomes if you select a particular name for your business or brand and how your target audience will think when they see and hear that name. Another thing you must keep in mind is whether this name is actually available. Can you get the domain name? Are there companies out there using that name or a similar name? How cluttered is a Google search for that particular name.

Step 4: Find the Name That Suits You Best

After coming down to a shortlist of the last few names that you think are the best, it is finally time to select the one. If you find that the selection is difficult then there are ways you can make the selection process easier. You could ask your friends and family. You perform a focus group. You can even have your company employees vote.

Finally trust your gut instinct and make a final decision on the name that you truly love.

 

Image by: Tom Page