companyname02's Journal

Naming Your Company: Five Tips
Naming your organization can be challenging and time consuming. Listed below are five tips that should help you find a great a brand new name for your company:

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1. Think of what you want your company name to mention. Your company name is an important part of your company’s identity. The name can look on your business cards, letterhead, website, advertisements, products, and many other places to identify your company or perhaps your company’s products and/or services. Service oriented businesses must look into whether it will be possible for their prospective customers to acknowledge what services the organization provides, based on the name of the company (example: Friendly Dog Walkers or Bright Accounting).

Businesses in rural areas and serving rural communities might want to project a smaller, hometown feel making use of their name. However, businesses planning to focus on bigger markets or bigger customers may want to project a larger, more corporate image using name.

2. Brainstorm to distinguish name possibilities. Once you understand what you want your company name to convey, you should set aside a serious amounts of brainstorm. Think about words that describe your industry or products/services you offer. Think about words that describe the competition and words that describe the differences involving the products and services and those of the competitors. Consider too words that describe the benefits of using your products or services. Finally, take into consideration words (and phrases) that evoke the sentiments you want your customers to feel once they see your company name.

While brainstorming, lookup Greek and Latin translations of your words - many times new ideas from doing that exercise. Look at foreign words too (Swahili is usually a great choice).

3. Maintain the name short, simple, and easy to write and remember. Also - consider acronyms of the name. Think about the names of companies you admire. They typically have a few things in common: their names are short, simple, an easy task to write and easy to remember. (Examples: Apple, Google, Virgin, Southwest).

Obscure business names tend to be difficult to write and many more difficult to remember. This can be a problem because for some new companies, word-of-mouth advertising is the most successful form of marketing. Should your customers can’t remember your reputation or can’t spell it for other people, it will make it difficult so they can help promote your business.

While it might be tempting, stay away from a “K” in place of a “Q” or perhaps a “Ph” in place of an “F” when coming up with your company name. Such letter substitutions makes spelling the name very difficult.

Also, don’t forget to take into consideration the acronym of your company name (an acronym is composed of the first letter of each and every word in a phrase). You do not use an acronym, but your customers might talk about your business by an acronym. A name such as Apple Support Services may lead to an unfavorable acronym - ASS.

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4. Avoid names which might be too narrow or too literal. Think about how your company may evolve with time and make sure that the company name can evolve using the business. For example, in the event you name your company iPod Accessories and then expand to sell accessories for other products, your original name will be too narrow and restrictive.

The identical advice applies even if your company sells a market product. For example, let's say you sell antique lamps, you should think of whether you might sell greater than lamps in the future. Naming your small business Peter’s Antique Furniture could possibly be too limiting when you later start selling antique coins and stamps.

5. Avoid decisions by committee but do “test” your reputation with others. It’s tempting to involve our friends, family, employees and customers to find a name for our company. Sometimes, this could work out really well. But there are risks. People might be upset if you don’t pick a name they think is extremely good. You’ll also find yourself trying to find consensus - be responsible for a very plain name. Should you must involve others, pick a small group of people who understand you and the business (and look for a mix of right-brain types and left-brain types so that you can have some variety. Once you’ve selected a few possible choices, you must share them with a couple of trusted friends, family and customers to have some feedback in regards to the name.

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