Many entrepreneurs successfully come up with a ground-breaking idea. They even create a working prototype to ask the investors for their money but are stuck with the name. The importance of the name is enormous that makes the task difficult and time-consuming.
The same is true for every other business before they open the store for the public. You cannot make a rash decision with the name since it will remain the same forever. Here, we have mentioned some tips to help the new owners find the perfect name for their business.
Avoid Boring Names
You will find some suggestions on the internet that may seem easy to remember. But no one will remember them if they are boring or too dull. Find a name that remains easy to remember but still interesting.
We can take the example of Dunkin Donuts and the London Cake Store. The former is easy to spell an interesting name yet to remember. While the latter is boring and hardly anyone will notice the name to remember it.
Take Help from Online Tools
Many websites provide freeware tools to help businesses find an innovative name. You can use them for inspiration, or they may prefer their suggestions more than your ideas. Following are some popular online tools that may fulfill the purpose –
- Shopify
- Oberlo
- Hipster Business Names
- BusinessNameGenerator
- Namelix
Do Not Limit the Business with a Name
Many businesses start with a single line of products to target a small audience. They grow with time and increase their inventory by introducing some other products as well. However, the shop is known for only a single product because of their name.
You should not select the name based on a particular product, service, or city. People may think of other items as the additional product, focusing on the product in the name. The opportunities will remain limited, and you may pass some because of the name constraint.
Search the Internet
While brainstorming the names, always search the internet with the suggestion. It will help you find the businesses with the same name to narrow down the names in your list. There will be no dispute or confusion since the selected name, in the end, may match some other business.
You may find many names already taken and registered. Those names can also be used as inspiration to find something else with your creative thinking. It is a pause, not a stop to your search for the perfect name.
Get the Domain Name
Almost every business these days have a website to target the online audience. You will develop it either before or after the operations are started. It makes more sense to buy the domain early to risk its procurement by someone else.
It is recommended to have the website address on your visiting card of the business. Therefore, you must create a website to look more professional in front of potential customers or investors. A small unsecured business loan will cover the domain name and website development cost if budget is an issue.
Add Meaning to the Name
It is true some names like Google or Yelp are catchy, but they don’t convey meaning. They are difficult to market if the product is new to the customers. The above examples disrupted the market with their unique ideas, not found in every small business.
You can use a meaningful term in the name to let the audience know something about the offered product or services. You can use the service name with a catchy word at the start. Take the example of Extramile Finance. They offer financial services while displaying the quality of helping the customers with “extra miles”.
Keep It Short and Simple
The KISS method is recommended while naming your business to help the customers remember it. You should keep the name short and simple without adding some complicated words. They don’t appeal the same to customers as some short and catchy names do.
Many owners overdo the cleverness they want to put in the naming process. Only a few customers will spend their time decoding or remembering a complicated long text. Also, make sure the name is easy to pronounce if you want a reference from the customers.
Avoid Your Name
You should avoid some names to make sure it remains relevant to the business. One such example is the use of your name in the brand’s name. It will not convey any message about the product or service to the customers.
Many owners use their names as part of their legacy. The employees and customers may not build the same relationship with the brand because of the name. However, you can integrate your name with the business if somehow it communicates the product or makes it sound catchy.
Take Feedback
You can take help from friends, family, or partners with the name. The final 2 or 3 in the list can be used to take feedback from them. They will give an honest opinion about the name with some input you may have missed.
Also, ask them for some suggestions from the top of their mind. Their creativity combined with the name on the list may solve the problem. Moreover, they may find some negative connotations that may sound offensive to some people.
Legal Research
Once the name is finalized, it is time for the research for trademark and registration. You may not find the name of the business online as some still operate offline. Visit the local authority to find whether the name is available for registration and trademark.
In the End
To sum up, naming a brand is a complicated process that can take several hours to find the perfect answer. Take your time because it is essential for your business to have a simple, catchy, and meaningful name. Remember, the name should also remain SEO-friendly if your primary audience finds the product online through a Google search.
