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Naming Your Business by Linda Leontowich
You may have heard stories about company names derived from some peculiar - and sometimes bizarre - circumstances. You might have even heard about phenomenal company names emerging while prospective entrepreneurs leisurely entertained friends late in the evening.
Some people suggest the more peculiar the name the better, if your goal is to stand out. Such names may not have universal appeal when tested out with larger audiences.
Others recommend sticking to conventional names with traditional spelling, which could be considered boring according to the standards of some trend watchers.
As I see it, there is a real science to naming a business – one that requires a methodical approach. Consider the success of Amazon.com. and how the name suggests books in several languages. Ebay.com is another winner.
A classic example of a concise and memorable name that tells it like it is.
While it is true that there are definite benefits for having a distinctive name, some names are just goofy and often do not relate to the company focus or the products and services offered.
Now you might have a real funky graphics design business or clothing shop and feel justified in using (what others consider to be) highly inappropriate words in your company name. Entrepreneurs would be well advised to think of long term implications.
No matter how cutesy it might appear initially, if it is going to insult anyone, delete it from your list. When in doubt, rule it out.
Ideally your company name should do one or more of the following objectives:
· tell others what your company does
· tell others how you do it (the process)
· tell others the results they can expect (benefits)
If you company name happens to achieve all three objectives, congratulations as you just might have a winner.
Consider the following when naming your business.
1. The shorter the name the better as it makes it easier for others to remember it.
2. Practice saying: “This is……of (name of your company) and see how that feels. Think about the kind of vibes you generate every time you say it.
3. If your name is too difficult to spell or say, it will be more challenging (and costly) to brand it.
4. Imagine the name of your business on a huge neon sign.
5. Names comprised of several unrelated letters grouped together can be challenging for people to remember.
6. Refrain from using a name (or words in a name) that can be insulting to anyone and I mean anyone. Consider checking the meaning of the words in other languages.
7. Consider if there are any inferred negative messages in the name or questionable double-meanings. Certain double meanings, which may not be apparent to you, can sometimes be detrimental to your company image over the long term.
8. Test out the name with a few business and personal contacts; consider a focus group especially if your product or service is non-traditional.
9. Imagine the receptionist at the front of your soon-to-be national office repeating the company name numerous times a day.
10. When you say the name, think about the visuals and emotions that come to mine.
11. Check and confirm website domain registrations prior to checking out the proposed name with your local registries office. Plan the registration process when you have the time to focus on this important step.
12. Ideally the name should be positive and almost musical to say out loud. Your company name should, above all, be one that truly resonates with you. A business development consultant can provide helpful objectivity to assist you in determining the ideal company name for your target market.
