Choosing the Right Name for Your Business
The birth of every person comes with a unique symbol—a name. Names can provide a sense of identity not just for individuals. Groups and other entities can develop that same benefit for themselves, and businesses are not exceptions to this. Although important, the process of naming a company can seem tedious and trivial to many, making it more difficult than it already is. It is often done to christen a fresh startup or rebrand an existing corporation. When looking for the right name, remember that it needs to be recognizable, attention-grabbing, and capable of asserting your corporate identity.
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Choosing the Right Name for Your Business
What’s In a Name: In Search for an Identity
Naming usually ends up as a task that is more of an impulse rather than a decision. Giving a name is so common that whatever comes to mind is already final. Others are in a hurry to have something on the record, especially when going through the name registration process. However, naming should have a place on the discussion table because a strong name will be the right branding for effective marketing.
So what is with a name? Why bother to make one? Since it appears to be a meager task, a name, in the long run, will become a meaningful symbol. And the three points below cover the essence of naming your business.
A Bond that Binds
Your business is not a one-person show because you have employees to run the operations. A sense of belonging and collective identity is an undeniable need. And just like any group of individuals that come together sharing some things in common, a name sums up the bond. You even have a random group of teenagers who felt their bond and later called themselves as The Breakfast Club.
Team sports exhibit a bond through their team name. Think of those football players kissing the seal on their chests when they celebrate a win. Imagine the coaches in the dressing room, giving an inspirational speech before the finals, and reminding the players who they are as a team.
A tycoon in a general assembly will always remind the employees of the bond. When the incomes are dropping, the business person pumps some steam similar to how a coach motivates. He or she will always tell that the company’s name should be on the top list. And when the performance is skyrocketing, sharing the victory under the banner of the company’s name is inevitable.
A business name bonds everybody in the industry, as each will give their best for a shared goal.
Coming to Life
Starting a business has a lot of ends to meet. You need a reasonably decent capital, a team, venue, and other resources. And part of the raw beginning is to give your enterprise a name. Although the name still does not bear anything, it is one way to signal the coming to life of a business.
You got to put up a sign somewhere, and even meet with local authorities to register. With all the legal processes and marketing strategies, your business slowly takes shape. And like a child, it will soon grow and give meaning to the name.
Association and Recognition
Creating a name is a stressful, especially in today’s generation. You have to make it relevant to your industry’s branding while having an appeal through internet research. The name should look not only good on the papers but also worth quoting in the digital world. Moreover, the brand’s flexibility has to include domain name compatibility. Thus, associating the name through relevant platforms is part of the analysis.
If the name is recognizable, then it is easy to search. People and competitors would not have to scratch their heads, trying to remember your business. Recognition also becomes easy when the brand bears an excellent reputation. And what company would not want that its name is associated with excellence and becomes a household name?
What to Consider When Choosing a Name
Consider the naming process part of the very first business plan that you are going to make. Before even setting up the first pillar, always find ways to call your business accordingly. Even the name becomes part of the strategy. It is like waiting for the oracle to give the right words to ascribe to a specific identity.
A business needs to probe into the considerations in choosing a name. Below is a list of pressing questions to ask when selecting the right name.
Will it Catch Ears?
Radio and testimonies are the echoes, but will they perfectly resound the name? Many people tune in to audible media, and some words are head turners if they have an appeal. It could be your neighbor, friend, or random stranger that exclaimed a catchy word affiliated with an excellent product. Or you could go for the classic radio advertisements that brands jive along with commercial jingles.
A name that is difficult for the ears will also be challenging to say. And if that happens, it would be difficult to tell others about your great experience. Thus, if you wish to make a name, make sure that it will catch ears and eventually make the public say it with ease.
Is it Relevant to the Industry?
There is no reason to call your business The Pork Shop if you are selling computers. Not only does it sound awkward, but people would mistake you for a food store. Thus, names should not only be catchy but also relevant. So make sure you do your research right and do not rest your brand to random words.
Doing your research and a competitors’ analysis is essential to know which names to take or not. You do not want to have similar business names with others as it would displace praises and blames due to confusion.
Will It be an Extension of Yourself?
Some names are indeed the owner’s name. Talk about luxury products, designs, and services, and you will often see the owner flaunting themselves in the market. When you wish to give a ring to the brand, and you think it is worth your name, then give it a go. Do so when you feel the business is you, and you are the business.
Will People Feel Great Having the Brand or Dealing with the Name?
The name is sometimes a privilege badge. Imagine that the catering service for your wedding is the same that served a presidential palace. Customers crave quality service and privilege. They will say that this furniture is from this esteemed industry. There is a ring to name when you are holding a designer’s bag. The name must also feel great when other people associate themselves with it.
Is the Name Suitable with Catchy Logos?
Logos are essential in making a trademark. Let the designer’s magic work smoothly through a name that can match a relevant image. For products, hearing what you have is not enough, your customers would be glad to show the trademark. Wearing a shirt with a famous sports brand will make them feel good. Others will only have to recognize the logo, and the name becomes an echo without a sound.
Plus, when you are planning to dish out dozens of business cards, add a little wishful thinking about how your company name and logo would appear. Moreover, expand the thought experiment by envisioning the pair’s appearance on letterheads and giant signs outside your building. Not only would you give the name a ring, but also, you have to prep up the looks.
Do You Want It to Be a Household Name?
Although a touch of class makes the name beautiful for the customers, nothing beats big sales by being a household name. When your business echoes around every person’s home as part of their basic commodities, make it sound good that they have it in their houses. It is nice to get the best of both worlds, i.e., you get all kinds of customers from every economic bracket.
Will it be distinct and unique?
Will the name ring a bell? Make sure that the name will not ring another’s trademark. There is nothing worse than people mistakenly giving credits due to similar-sounding trademarks. And for sure, you are not after duping the people with your cheap replicas and duplicates. So if you want to sell or serve, keep certain that there is only one identity to it.
Establishing a Reputation
Names create a workable destiny. A right name needs continuous building and effort to develop a good reputation. Making the name sound good is not only about the acoustics, but also the services and products it represents. Although the name can never have meaning without the efforts in the business, finding the right one still matters. Having one is a good start, and it sets the direction to go and a reason to exert more for its survival. It is like a child falling in love with a toy. He or she gives it a name, even though the functions are still unknown, the name pushes him or her to play with it until the potentials unfold.
Many of the big business names today have humble beginnings. Most of them were unknown to a lot of people because they were still creating a niche. The first patronizers tried the name with what they offer, and when the experience is pleasant, echoes spread like wildfire. The true testament of a business’s name comes in the later years, but there is nothing like something to brand on during the humble beginnings. At least, looking at the annals, one can say that this company grew over the years. And the name remained the same, a proof of endurance and perseverance.
Finding the right name that will also become the business’s banner is a tough task. It may sound meaningless at first, but there is no harm in trying to give one. At least, when you are still starting a business, you allow people to call you. However, some industries want to have a new name. Is it because they want to start again? Do they want to give their company a new jump-start amidst a problematic past? Naming is a rebirth of sorts; a continuous quest for an important foothold in the business sector.
Choosing a name is difficult and sometimes, seemingly unimportant. That last part cannot be any more wrong if it tried. Your identity is what’s at stake as far as a name is concerned, and your customers need to be able to identify who you are as a business. It is that collective identity that will allow your staff to associate themselves not only with you or each other but also towards the purpose of their employment with you. Good names will ring people’s bells, cater to visual and auditory satisfaction while bringing the full weight of your company’s reputation to bear on the general public. Bad ones will leave unpleasant tastes in people’s mouths or worse. As you can see, it is never wise to neglect the naming process. It may just be what gives you that push your company sorely needs.