Tips to name your business
What came first, the egg or the chicken? The question will remain forever but we all know that a business idea always comes first in our mind before we name it.
Similarly, do people name their business first or launch their business first? When is the right moment to start looking for a name for our business? These are the questions we hear from most of the young people wanting to become entrepreneurs.
The answer is not difficult but finding the perfect name for a startup or business still seems to be difficult at the initial stage. Some say they look for the name at the time when they are building their product, some says once we finalize the business partners, and some says at the time of company registration. Yes, often people looking out for a business name when they want to formally register their business. The search goes on sometimes for months to get a perfect name for a business. Let’s see how to find a perfect business name or domain name for a business.
- 1. Meaningful Name: I personally prefer names which have a meaning or are derived from a meaningful word. Words which are derived from a dictionary or meaningful word tend to be more brandable than the actual word itself. Eg., infoduction, as the brand name is derived from the two words “Information” and “introduction”. The two original words are too lengthy to use but a creative mix of both words helps keep the original essence of the meaning, making it a beautiful brand name.
- 2. Two words: I personally don’t favor combining two words but a right combination of such words can help make the brand name memorable as well as meaningful. This also helps in SEO and digital marketing. Eg., CatLook, The name is created using two words “Cat” and “Look”. The domain name is not only catchy but also conveys meaning to customers that the brand is either for women fashion/beauty related or pet related (cat specific).
- 3. It must be catchy: “Maggi” is one of the most popular instant noodle brands. It is not only delicious in taste but it is also a catchy name that anyone can remember it easily. Original dictionary words are good for SEO but don’t always sound catchy or creative.
- 4. Don’t copy your competitors: A lot of individuals do this mistake where they keep a name similar to their competitors. For example, there is a popular brand name “Samsung” and you want to start your business in the same industry, then don’t look for a name like “Somsong” or “Samesung”. You need to understand that you are starting the business to create your own brand not to imitate your competitor. You will lose your identity if you name your business like this. At the same time, you may end up in a legal issue.
- 5. Long-term outlook: If you are starting a business to manufacture pencils. Don’t restrict your brand name to only pencils. You’re limiting your brand name if you decide to expand to include pens, stationery items, etc. You need to think from a bigger perspective and long-term aspect.
- 6. Keep it Short: Try to keep the name short. Don’t try to unnecessarily make it short else it will lose its meaning and value. We suggest a domain name should be shorter than 15 characters.
- 7. Consult with experts: You must have consulted your business idea with your friends, colleagues or mentors. The same way, you need to consult for your brand name with experts. A brand or domain name consultant can help you to find a perfect name for your business.