One of the main issues that arise when organizing a new business is the problem of choosing a name for your future company. It is understandable. A good, sonorous, easy-to-remember name may well become a recognizable and successful brand after some time. In the future, as the business develops, the name of the company, as an intangible asset, will constantly grow in value. If the name of the company is non-original, hard to read or pronounce, then, most likely, things will not go in the best way.
We will offer several different approaches to choosing a company name, and you decide which one is most suitable.
Ways to come up with a company name
When choosing a name, think about customers
First of all, remember – the name of your company should evoke only positive emotions from your potential customers. After all, you must admit that not everyone wants to have a bite to eat in a restaurant called “Blue Chicken”. Will I feel bad after I try this blue chicken?
Choose a name that matches the life values of your target audience. What will be clear and understandable to teenagers will be completely alien to people of the older age group. So communicate with customers only in their language. Don’t forget about it.
It is best to show the name invented for the company to 20-30 people from the category of your future or current clients. Listen to their opinion, perhaps you will change something in the name, remove or add something. And perhaps the clients themselves will tell you an alternative name for your company. In any case, their opinion should be very valuable to you, because it is for your customers, and not for yourself, that you come up with a name. Therefore, do not neglect such a small but effective research method.
Company name “My name is…”
In no case should you call your company by your own name or the names of your close relatives.
Many husbands, in order to make a gift to their wife, call a store, salon or cafe the name of their beloved. Such generosity of soul can be fatal if you want to sell your business in the future. After all, it is quite clear that hardly anyone wants to buy a store named after an unfamiliar woman.
In addition, this option for choosing a name has another drawback. The fact is that people tend to associate unpleasant memories with objects and names that caused a negative reaction. And if something did not suit this person in the work of a competitor store with the name “Jennifer”, then he most likely will not enter your store with the same name. After all, who knows, maybe this store belongs to the same Jennifer. Actually, this is exactly the situation with surnames. In general, if possible, avoid entering first and last names in your company name.
But taking their first letters as a basis is a completely different story. For example, if you combine the first two letters of the names Jennifer and Peter together, then you get a completely suitable name for your company “JEPE”. Experiment, use letters, both names and surnames and patronymics.
Company name – type of activity: where is the connection?
A fairly simple option for compiling a name is that the name of the company is directly associated with the type of its activity. That is, from the name itself it should already be clear what your company does. Conversely, ambiguous names can play a bad role in a company’s operations.
An example of a well-chosen name in this case is the name “Breeze”, for a company that sells and maintains air conditioners. And the anti-example is the trademark “Green Age”, owned by a firm that sells youth clothing. As we see in the first version, the word “Breeze” directly reflects the state of lightness, freshness, coolness, that is, for the sake of which the air conditioner is actually bought. And in the second case, the name does not evoke any associations with clothing, most likely, it is suitable for a company selling plants, seeds and flowers.
Don’t try to include as much descriptive information as possible about your firm’s activities in the title. There are so many companies with similar names that it is sometimes very difficult for a simple layman to decide which organization is better for him to choose. And those owners who think that the client will immediately understand what their firms with such names are doing are greatly mistaken. The client is simply confused and can easily go to competitors. So, if you want your company to immediately stand out from other companies, choose a name that is bright and memorable.
This name selection option is relatively easy and does not require complex and expensive marketing research. But again, it is considered to be more applicable to developing a name for a product than the name of the company itself. In the end, it’s up to you to decide.
But the name does not have to include words compatible with the activities of the company. Remember such well-known companies as Kodak, Yahoo!, Xerox. These trademarks do not carry any semantic load at all. But with a competent approach to choosing a name and proper brand promotion, such words in the future may themselves become an association with goods or services offered by the company.
A perfect example is the name of the Xerox company. After all, when we need to copy some material, we say – “I’m going to Xerify.” Although the correct option would be to say “I’ll go and copy.” This is what a properly chosen name does with people’s minds – it firmly and for a long time enters into the daily routine of our lives. Another advantage of this particular method of choosing a name is that a made-up word is much easier to legally protect than just compound and descriptive names.
When choosing a name for a company, it is best to avoid templates and very common names. Even if a company with that name is located in a completely different city and is engaged in a completely different type of activity. Be original. It is the individuality that will help distinguish your company from hundreds of other companies competing with you in the market. Also, do not tie the name of the company to its geographical location. Who knows what will happen to your company in 2-3 years. And if you are going to conquer other regions?
Company names in a foreign language
If you are composing a name from foreign words or phrases, then do not be too lazy to look into the appropriate dictionary to find out exactly how the word you like is translated or what it means. It is not uncommon for the owners of such self-named companies in a foreign language to find out about the not-so-best interpretation of their company too late. You have to go through the stages of registration again, pay fees again, etc. This is wasted time and money wasted.
The easiest and most affordable way to come up with a name for your company is to use Turbologo’s online name generator. The system will quickly and efficiently select the appropriate options from which you can choose the one you like best.
That’s all! We hope that our tips will help you find the perfect name for your brand. Good luck!