Naming your business can be challenging. Unless you are fortunate enough to be starting a company where the name is obvious, you will need to think carefully about what to call your new venture. After all, your business’s name must accomplish multiple goals – branding, communicating what you offer, standing out from the crowd, etc. The term must also be available so you are not confused with another company and register with your state. Hopefully, the name will also be one that you like.
The following steps are here to help you start your name search. Follow along to find a name that works for you.
Tips for Naming Your Business
1. Get a clear idea of what your business is really about.
You may have already created a mission statement, which can help with this step. But even if you haven’t, thinking carefully about your business’s essence is worthwhile. What are you offering your customers? What problems are you helping them solve? The better you understand why your business exists and its main purpose, the easier it will be to narrow in on names to convey that essence to the public.
2. Do some brainstorming. Then, do some more.
Whether you do it alone or with someone you trust, set aside time to brainstorm potential names for your business, you are going to need to come up with multiple possible names because there is a possibility that other companies will already take some of the words you pick. There is no point in getting too attached to the first great name you think of since you may find that it’s not an option. Don’t expect to get it all done in one session. You should commit to doing at least two or more brainstorming sessions because you are more likely to come up with the perfect name – one that you love that is also available – if you make multiple attempts.
3. Free yourself to be creative during your brainstorming.
The perfect business name is often obtained using both your analytical and creative sides. It is essential to identify your business’s essence and be sure what you are trying to sell through your name – but it is also important to loosen up when throwing words out there so your brain can make associations that may not be obvious at first. Try writing down words as fast as you can come up with them, even if they are nonsensical or seem too silly. You might devise something ideal without spending hours analyzing what is allowed and what is not.
4. Sort through your list.
Hopefully, you have done at least a few brainstorming sessions and have a long list of potential names. You need to sort your list because many of those names will not work. Others will be close but not good enough. Read through your list and eliminate all the obvious words ‘no’s. Then, sort names that are similar together. If you notice any great characters, mark them with a checkmark.
There are a few different criteria you can use to analyze your list, including:
- Is it memorable? A good business name sticks in your head after you read or hear it. How unique is the word? It’s probably not a great pick if it won’t be remembered.
- Does it indicate what you do or offer? There are certainly businesses with names with nothing to do with their services or goods – like Amazon and Google. For small businesses like yours, though, having a name that clarifies what you are offering is best.
- Does it fit your brand? If you are offering lifesaving services, you probably don’t want a name that seems flippant or comical.
- Is it unique from the competition? There are probably other businesses offering something similar to yours. You want your name to be different enough that you won’t be confused with the competition.
- Is it easy to say and easy to read? Some businesses have gotten away with names nobody can pronounce – Qdoba, anyone? – but there is no reason to make things harder than they have to be. Make sure that your target market can say your name.
5. Walk away for a while.
It’s a good idea to sit on your decision for a while. Get at least one night of rest – hopefully a few more – before you consider your list again. Taking time away will allow your brain to process things and give you a new perspective on your potential names. Ideally, you will quickly return to your list and process which names make the most sense. You may even come back knowing exactly what the name should be. Or, you may not be satisfied with any of the names and need to start brainstorming again. Don’t get discouraged if you need to try again. It’s better to get this right now rather than spending copious amounts of time and money building a business with a bad name.
6. Verify availability.
Once you pick a name, you will need to see if it’s available for you to use. Another business may have the same name. The name may be taken in your state. You can find various resources online for checking name availability. Don’t stop with just one name search, though. Do some googling and try to find out if there are any places where your name is being used.
It’s always smart to check domain availability, too. You will want a website, and it’s best to use your business name as your domain if possible.
7. Register your name.
The last step is to register your business name with your state authorities. You may be planning on forming an LLC or other entity, in which case you need to register your actual business with the state, not just your name.
