What’s in a name? When deciding what to call your company, the answer is plenty. A business name can be too broad–or too confining. The challenge is to pick a name that’s catchy, but also fits well with your particular type of business. Here are 7 questions to ask as you think about names to call your business.
What do I want a name to accomplish for my company?
A name can help separate you from competitors and reinforce your company’s image. You should clearly define your brand positioning before choosing a name. Let your name reflect your brand.
Will the name be too limiting?
Avoid picking names that could limit your business from enlarging its product line or expanding to new locations. If you choose a name that is limiting, you would have no choice than to rebrand. Remember Taxify, the ride-hailing service had to change its name to Bolt when it decided to offer services beyond ride-hailing.
Is the name easy to remember?
The shorter the name, the better. As a business owner, you should limit you should your business name to two syllables and avoid using hyphens or other special characters. When choosing an identity for a company or a product, simple and straightforward are back in style and cost less to brand.
Is the name easy for people to spell?
This may seem to be a given, but some companies purposely select names that consumers can’t easily spell. It’s a risky strategy to try to make a company stand out. If your name looks like a typo, remove it from your list.
Does the name sound good and is it easy to pronounce?
The sound of the name is important in conveying a feeling of energy and excitement. You also must be sure potential customers can easily pronounce your company’s name. It is a hard fact that people are able to spell, pronounce and remember names that they are familiar with.
Is your name meaningful only to yourself?
A name with hidden or personal meanings evokes nothing about your brand, and you won’t be there to explain it when most people encounter it. Refrain from Swahili, words spelt backwards and naming things after your dog.
Should the name of my company indicate the type of business?
Restaurants can get away with seemingly obscure names. But a daycare facility called, say, “Caribou” probably cannot get away with an obscure name. While that might seem obvious, consider how many businesses you see with seemingly made-up names. Certain names might seem cool, trendy or have personal meaning to the founder. But not if the name gets in the way of attracting customers and building a brand.