ENTREPRENEURSHIP / DEC. 01, 2014
version 3, draft 3

How to Create Your Business Name in 3 Steps

Coming up with a good name for your business can be a very difficult task. Not only will this decision have a significant impact on your business marketing strategy, branding and product promotion, but it will also be used to describe your entire business.

Obviously, there are a lot of things that you need to consider. A powerful business name should be simple, easy to remember and relate to your business in every possible way. With this being said, the name should also be able to convey the expertise and value of your products or services.

So if you want the name to be unique and fully represent your business, you might want to investigate a bit deeper first. This article provides a 3-step guide to help you choose the right name for your business.

Here is how you can create your business name in just 3 steps:

#1 Brainstorm

The first thing you need to do is brainstorm in order to get possible ideas for the name of the business. Write down some words that come to your mind when thinking of what you want to make out of your business. At this point, it is worth noting down anything that comes up, especially those ideas that “come out of nowhere”.

The key to brainstorming for creative ideas is to visualise your goal. In this case, it might help if you ask yourself the following questions:

  • Who is the target audience?
  • What are their needs?
  • What will be my competitive advantage within the market?
  • What adjectives will describe my business best?
  • What kind of symbols/shapes might be appropriate for my business?

#2 Evaluate Names

At this point, you could narrow down your brainstorming results to no more than 10 names and evaluate each one according to this checklist:

  • Is it easy to pronounce and remember?
  • Is it simple and easy to spell?
  • Does it have a positive connotation?
  • Is it interesting or unique?
  • Does it help you visualise anything when you read the name?

While, the ideal answer to each question should be yes, sometimes it isn’t as clear as you would expect it to be. If you find that none of these ideas are working, you can do some more brainstorming to help you decide which name describes your business best.  

#3 Get feedback from potential clients

Getting a consumer’s opinion is crucial as far as it concerns branding your business. You will essentially be selling your services or products to a specific target audience. If you already know who might be interested in your services make sure that you get their opinion. Ask your friends to tell you what they think to gather a good proportion of views on your proposed idea. Reach out to potential customers who are of a different age, gender and background and check their initial reaction to the business name.

In the end, choosing a name for your business will be entirely your decision. Finalise a name based on your personal opinion and what you have heard from other people and then you are ready to start developing your business!

 

Image: iStock

Get our FREE eBook!
'6 Steps to Landing Your Next Job'

LEAVE A COMMENT

0 comments

 

RELATED ARTICLES

Get our FREE eBook!
'6 Steps to Landing Your Next Job'


G up arrow
</script> </script>