What’s in a name? How to Choose Your Company Name
Naming your company is a key component of starting a business. There are many things to consider when deciding on a name for your company, from creativity and relatability to legality and simplicity. You have to know what other companies are already out there with a similar name, picking a name that can grow as your business does, and quite a few other reasons.
Let’s dive into what those reasons are:
The name should be easy to spell.
There are a lot of companies out there that are uniquely named, but not spelled in the most common way. Flickr and Tumblr come to mind, both removing the ‘e’ from their names. While this is cute and catchy, early on customers may not easily grasp the spelling of your business and you may miss out on them visiting your site easily.
Do your research!
First and foremost, make sure that the name is not already trademarked. You can search USPTO.gov to get an idea of whether or not your name is already being used. Visiting the Secretary of State’s records will also show you if there is a business already in existence with a name similar to yours. You could also do a quick internet search to see what pops up. When doing an internet search, you can also find companies with names similar to yours, but for very different reasons. For example, you could want to call your company Mikey D’s Burgers, but that is far too close to Mickey D’s, aka McDonald's. Even further, you have to make sure that your new company’s domain name isn’t already taken.
The name should grow as your business does.
This is important as you want your business to grow, but you don’t want it tied down to a name that is all too specific. For example, if you call your company The Logo Maker, but after a year, you expand into website design, marketing consultation, and social media management, then your name doesn’t quite fit the bill anymore. Or if you want to name your business after the location you are in, such as The West Palm Beach Sandal Shoppe, what happens when your business grows and you expand into cities across the country? The answer? It will be confusing and not as SEO-relevant.
Make your name catchy!
The name should not be boring to the point where people easily forget it. But at the same time, it shouldn’t be too scary to the point where it scares people away. Make sure your company name is something that sounds good out loud. People who use your business or work for your business, shouldn’t feel weird or embarrassed saying the name out loud. The name shouldn’t be too general, such as The Speedy Repair Store, which would be hard to decipher just want repairs they do.
Ask for feedback on the name.
And finally, ask what people think! People, for the most part, will be incredibly honest. They will tell you whether or not they’d remember the name, if they understand your business from it, and in general if they like it. Plus, asking people for feedback may help spark new ideas for a name.
All in all, it’s your company and you want to be able to name it something you are proud of and will mean something to you in the long run. Using these tips there is no reason that you can’t brainstorm a name that will be both fulfilling to you emotionally, as well as financially beneficial to you and the company. It’s not a process that should be rushed, but one that should take a dedicated effort. Look to your favorite brands for inspiration and what makes them wonderful to you and the world at large.