Looking for a name for your new business? Read on to learn how to generate good and refreshing ideas for the same.
The first image of the company is conveyed to people through its name. A customer duly remembers it and recalls the product or service offered by the business through it. People obviously spend a lot of time in building their reputation through hard work and operations, but at times, neglect a very crucial aspect of brand building - the name itself.
There are so many companies these days, thriving on the value of their business name; for instance, McDonald's, Google, and Harley Davidson, which have become synonymous with the products or services they offer.
This is the real power, which obviously needs to be backed up with the product/service quality offered. Thus, anyone starting a business should look for new ideas for the same, which will eventually help the company to prosper.
How to Derive New Business Names?
An easy way to arrive at it is by giving the company your own name. Many believe that this lends a certain amount of credibility to it. You can use only your first, or your entire name, or even just your initials.
If you are starting a new company in partnership with someone, you get few more options to arrive at a catchy name. A possible disadvantage of having it as the name for your business it that it does not say anything about the product or service you are going to offer. Popular examples include McDonald, RM Williams, and LL Bean.
Descriptive or Generic
These names provide the customers with a fair idea about what product or service you provide. This works well in cases where there is not a lot of competition, and your business name does not need to be very unique.
Descriptive ones run the risk of not being able to stand out from the clutter, but if you look around, there are many companies having such names and doing great.
Popular examples include KFC (Kentucky Fried Chicken), IBM (International Business Machines), and British Airways.
When you combine a personal name with that of the business, you get a combined one. The best part about having it is that it combines together advantages of personal, as well as descriptive names. These provide a sense of personalized touch to the business, and also make the customers understand what product or service the company is into.
Popular examples include Dell Computers, Ford Motor Company, Dunlop Tires, which had Michell Dell, Henry Ford, and John Dunlop as their respective owners.
Every company aspires to become a top brand in their respective field with a high recall value. This propels them to opt for such names for their businesses. Most of these words are totally unrelated to the company or the owner, but are catchy and easy to remember.
The biggest hurdle for companies using one is conveying the product or service offered to the customers. But, if it catches on and draws people's attention towards your business, people are sure to understand the product.
Popular examples include Amazon (online bookstore), Microsoft (software manufacturers), and Google (search engine operator).
Tips For Generating Creative Names
Undertake a brainstorming session to arrive at a name for your business. You can do it yourself or involve other people, but ensure that you write down all possible ideas that come to your mind and then categorize them.
Find out related words to all the names you have got with you. Use a dictionary or thesaurus to get synonyms.
Prepare a list by making possible combinations of all the words, and experiment as much as you can.
Go through the final list you have prepared, think how each name sounds like, and call each of them out loud to know how it feels.
Let someone you trust go through the list you prepared, and get their feedback on how each of them sounds and what they think is best suited for the company.
Combine your personal opinion along with the other persons' reviews and arrive at an ultimate list after eliminating the ones, which have found no takers.
To downsize this list further, check if any of them already exists or carry a trademark on them. Also, look for related domain names as you would love to have one, which has the name of your company.
Once you have found out one, register it and incorporate your business with the same. Register a domain one, as well. Get the US trademark or service mark on it to protect it from any poaching.
These tips discussed should help you in arriving at catchy names, which will only help your business. Instead of neglecting, devote a considerable amount time to generate ideas for the same.