How to Pick the Perfect Company Name
You are an aspiring entrepreneur starting a small business but are having a hard time finding a suitable company name. Have no fear! We’ve compiled a few helpful tips to help make the brainstorming process a little easier.
Your brand name’s feel and sound should imply what the company entails. You do not want to confuse people. For example, if YumYum is the name of your brand, this is suggestive of something edible. We would not recommend a provider of marketing services use the name YumYum. A good place to start is putting together a list of relevant buzzwords in your field. If you’re putting together a marketing company, your list may be comprised of “social media,” “creative,” “numbers,” or “advertising.” Sometimes a hybrid of relevant words will stimulate your mind into formulating a relevant name.
The brand name shouldn’t just be clear and to the point, it should be descriptive, too. The name should convey the identity of the company, as well as its objectives, approach, and attitude. Don’t just insert a service or product word in the brand name. Rather, capture the brand’s experience, essence, and benefits in a suggestive manner.
Simple but Unforgettable
We are not very good at remembering names, as humans our attention spans are short and because of this, the brain keeps names in its short-term memory. An unforgettable brand name should challenge the mind and the best way to do that is to pair the brand name to a feeling, attitude or sensation while using recognizable sounds or words. Consider keeping it brief, one of a kind (as in do not use the common brand names). The big idea it do not overwhelm the brain with too many details, a catchy short brand name will resonate better with customers. Example of companies with short brand name are Apple, Uber and Amazon.
What about your Name?
For resale value it is not always the best idea to name your brand/business after yourself. For example, if you have a plumbing company and name it Johns Plumbing Co; you may need to find another John to buy out your company when you retire. However, you look at major moguls and billionaires who name their company after themselves and they certainly seem to be doing alright. For example Kate Spade, named her designer purse brand and future accessory and clothing line after herself. She sold her company for 125 Million, 10 years later it sold in the Billions. At the end of the day you are going to do what works for you. If you are passionate, skilled and hardworking, your business will find success