The Importance of Finding the Right Business Name

The name is a sign, says the old Roman proverb Nomen est Omen. When we talk about business, this saying gets its full meaning. Choosing a company name can make the difference between business success and failure. Anyone who has started a business knows the struggle of finding the right name.

It is something you want to do early in the process because it’s the cornerstone of your brand’s identity. It is the first thing the consumer is presented to when getting acquainted with your brand, and we all know how crucial first impressions are.

A company name can help you differentiate yourself from your competitors, as well as build the image of your company. For that reason, it is very important to clearly define how you want the market to perceive you, and only then to choose a name for the company.

First of all, it’s ideal that you don’t create the name yourself. Choose a few (future) colleagues, friends, or family members and present your idea to them. Then ask them to give their suggestions and ideas in the next seven days, for example, to name such a job.

Luckily, there are some tools, tips, and tricks that will make it easier for you to choose a name, and sometimes, the only thing you need is some good old brainstorming. Read on and let us help you kickstart that process.

Get inspired!

The first thing you need to do is to gather all the information you have about your business: What are you doing? Are you offering a product or service? Who are you targeting? These are some of the questions you can think about trying to find and attach connotations and values to plot out a name. your name should reflect who you are as a company, and therefore it is important to think about what signals the sound of your name emits.

If you choose a random name – something that we can’t recommend – or choose something that sounds similar to another brand, you risk losing potential customers. It can be difficult to brainstorm and even harder to get something useful out of it. Some people spend many years learning how to develop ideas. Therefore, it is important not to beat yourself up, if, after a long brainstorming session you still haven’t found a suitable name, you can identify yourself with.

But fear not, there’s help to be found! Several online tools are both constructive and free, which can help you kickstart the brainstorming process and get the ideas flowing. You can, for example, visit a name generator that automatically spits out name suggestions, such as biznamewiz.com. All you have to do is enter keywords related to your brand and your brand values, then it helps you generate suggestions. It is a great tool if you need a name quickly or just need some inspiration.

Create a brand

Source: crowdspring.com

While the name is highly important when it comes to making a business, it still needs to be combined with the right visual identity and marketing strategy. Sure, a good and recognizable name will help a thriving business, but the name will not build the business alone. Therefore, try not to spend too much time with the name and rather focus on what you can do with it.

This could regard colors, designs, new products, collaborations, etc. You should focus on making your brand appealing to the user and the situation. For example, many industries and businesses have become popular during the pandemic, not mainly because of their names, but also because they adapted their service to the situation and the user’s needs.

Avoid names that can be wrong or spelled

Source: ba.n1info.com

There are names that are more likely to be misspelled or mispronounced. Choosing these is a bad idea, because if people need to ask how to write or pronounce your name, then you have to come to terms with the fact that the chances of new consumers finding you are extremely low, sometimes almost nil.

What does the name of the company mean in another language?

Source: startupseven.in

A company name that works perfectly in one language can have a completely wrong, sometimes even extremely negative connotation when written or pronounced in another language. This is very important if you plan to place your services on a foreign market.

Make design choices

Source: brandignity.com

As mentioned, you should spend sufficient time discussing and testing different designs on your logo, website, and graphic appearance. All of this will be accompanied by your name and be a big part of your brand.

This will further lure customers in and be the main reason why someone decides to buy your product or service. Try to ask yourself, what role does design play in your business? How would you like it to be? And most importantly, what does your target group like?

Doing a rebranding can be very expensive, so taking these tips and questions into account regarding business name, brand concept, and design can end up saving you a lot of time, and not the least money.

A brand name is not a joke and it is to be assumed that it will be with you for many years and that over time this verbal part of your identity will connect with the products and services you offer, and even the ideas and values you represent and develop.

Final thoughts

No matter what form of company you decide to establish, the initial step in realizing a business idea is to choose the name of the future company. It has to be something that will mark your business. When getting an idea for a company name, put yourself in the client’s shoes. Would you become a client of a company with that name?

This is very important because if you do not accept the name yourself, believe that others will not. If you initially put yourself in the position of a client, it will be easier for you to come up with an idea for the name of your company.

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