6 Strategies On How to Create a Business Name
It takes a lot of courage, passion, and vigor to start a new business. While the technical side of things comes naturally to most business owners and entrepreneurs, the creative side of things can prove to be difficult, especially undertaking a task as significant as finalizing a business’ name.
A good business name is one that is memorable and encapsulates your brand’s essence. It should serve as a reminder to your employees and customers why the business exists. Your business name and brand name is your unique stamp across all your collateral, especially on memorable custom packaging.
It may be easier to pay thousands to a naming agency for a new, untrademarked, industry-relevant, memorable, and trendy name. But you’re just getting started, and you’ve got other things on your mind. So, try coming up with ideas on your own.
In this post, we will share 6 strategies for coming up with an excellent business name idea.
The process of naming your company may be a terrific way to express your company’s backstory. If your company has a terrific experience to share, you could use your business name to articulate it. This is how names like Virgin (the founders’ method of stating they were brand new to the industry) came to be.
To make your business name more interesting, delete or add a letter or even modify the structure of a well-known word. Take, for example, Flickr and Tumblr, which deleted the “e” at the end of their names to make them more simple and appealing. Alternatively, pick a word that’s important to your business and come up with a creative way to spell it, as Reebok did with the word “rhebok,” an African antelope.
The length of a brilliant business name should be kept to a minimum. Consider using a part of a word or phrase that has a profound significance for you as your brand name. Consider Cisco, which was founded in San Francisco and was inspired by the city.
Perhaps you dismissed Latin as a waste of time in school. But what if you could apply what you’ve learned to come up with a name for your company? Volvo (“I roll”) and Acer (“sharp,” “able”) are two examples of business names derived from this language. Choose a Latin word to reflect your company, such as Luxus for a high-end retailer or Sanus for a health-food shop.
What are the words that come to mind when you think about your company? Make a list of all of your selections and envision how these words will match with your new logo or banner. Think about 7-Eleven: their name immediately conveys what makes them unique (they’re open from 7 a.m. to 11 p.m. every day).
Have you always been known as ‘Adi’? To add a personal touch, use this as the name of your business. Alternatively, use your children’s names or nicknames for a heartfelt (and effective) brand name. Wendy’s was, after all, named after the founder’s daughter’s nickname, Wendy.