How to Choose the Perfect Name for Your Company

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7/12/2015 by
alanloyed

Choosing the right name for your company can be quite exhausting. A lot relies on the couple of words that take the trophy – the essence of the company, its services and its uniqueness. Additionally, it also needs to evoke an interest in your company among your target consumers. All of this combined with the responsibility to make it memorable make the job even more baffling.

Coining the name of the company lays the cornerstone of company formation. It is one of the major factors that drive the company’s marketing potential. Therefore, it is important to give it a lot of thought.

The following guidelines will help you through the process of choosing a great name for your company.

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Put on Your Creative Cap

If you are an entrepreneur, chances are, you already have started deriving inspiration from the core principles of your company. However, there is one problem that arises while choosing a company name from existing words – most of them are already taken. So matching and rematching words to form something meaningful and unique can be a monumental task. What you can consider in a situation like this is coining a name.

Take ‘Acura’ for example. The name of the luxury vehicle segment of Honda is not an existing word. It was coined from the word segment ‘Acu’, which, in many languages, mean precision. The term ‘Acura’ incorporates the essence of precision engineering, which is exactly what the brand stands for.

The easiest way to do this is to jot down relevant keywords in a notebook and try to jumble them up to create unique terms that voice the particulars of your company. You can also brainstorm ideas with your peers to come up with distinctive names.

Do Some Research

Research is one of the most crucial steps before deciding on a business name. The name you choose could imply a variety of meanings in different languages. Your weapon of avoiding a misinterpretation and a consequent disaster is awareness. So it is always wise to have adequate research to avoid any embarrassing situation.

In addition, every state has a few naming guidelines that you would need to comply with before committing to a name for your company. There could also be a list of terms that you should steer clear of. If you are not quite ready to go into business at the moment, you can reserve the name for future use. However, you would need to check with your state laws to make sure that this is permissible.

The next step is to run a name check on the ones that you shortlist. This will give you an idea about the availability of the names. Another quick suggestion would be to not pick a name that is similar to that of a competitor. Apart from causing confusion, it could also lead to trademark infringement.

Consult an Expert

Coming up with possibilities for names in isolation can be quite challenging. The name of your company could make or break your business plans. Therefore, a solitary effort can be monotonous and not that effective. You might even find yourself overstepping a few laws without even knowing about it. This is where professional naming firms come in.

These firms can walk you through your choices, pointing out the good and the bad ones with ample reason. Also, their intricate procedure of creating names can save you some troublesome experiences that might arise later on. For the price you pay, you might also get a few additional benefits like design etc. in the package that could really come in handy.

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Narrow it Down

From among the ones that have passed the scrutiny, you would need to narrow down the list to a maximum of three contenders. Now is the time to start analyzing the names thoroughly. Ask yourself a few basic questions regarding the names. You can start imagining them on billboards, ad campaigns, websites and so on and decide on which one nails the brief. Step into your target consumers’ shoes and think which one you identify with best. You can also conduct a survey to find out the best fit.

Additionally, you can also think up a few a logo concepts to go with the names. This would give you enough room for effective visualization and would aid in deciding on a name.

The final tip would be to choose a name while keeping the long-term goals of your company in mind. Choose one that is meaningful and familiar.

Content Source: The Company Wizard








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Allan Lloyd has more than five years of experience as a content developer. A web enthusiast, he has a penchant for framing content for diverse industries. He has framed content for different blogging platforms. His areas of interest include health, business, news, entertainment and home improvement. He frames informative write ups and tries to make all of them interesting for the readers.

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