8 Tips for Naming a Business

business nameEvery few seconds a new business idea is thought of, every few minutes a new business venture is launched.  What used to be the most difficult is increasingly becoming one of the easiest – the idea on paper and the plan.  The difficulty has shifted to a great name that is available.  The internet has given way to so many new businesses and well as provided a resource for promoting the business. But what about the name?  Naming a business at first thought is easy but then when you start to search for the domain name, you realize that so many names are taken. This is just the beginning of the name game.  Selecting a name can take a lot of research to ensure that the name you select is not taken but also will be something that you can make your own.

There are different types of names that you can jot down and when you really get into the research of a name, it is easy to start with generic names, your name, industry standards, colors, shapes, objects and even different languages.  The name has to fit and something that you are proud of.

8 Tips for Naming a Business

1. Descriptive. A descriptive name tells exactly what your business is about.  Pie Town Pizza, Speedy Fountain and Dollar Store.

2. Broad/Generic. These can be descriptive in nature however include a broad/generic component. American Candle,  Direct TV and Executive Lounge.

3. Your Name/Initials. First and last, just first or just last. Walmart, Smith’s, JR’s, DKL. Generally you need some sort of descriptor that can be dropped in time.

4. Geographical.  Location names can vary from township, city, state and area. Southwest Gas, Saddle Brook Diner, Nevada Concrete. These names are somewhat limiting with respect to expansion however like 3M you can create a new shortened name that is not geographic.

5. Word Combination.  Combining words and parts of words can work well so long as it makes sense. VirtualExec, SaharaHair and Dunkin Donuts.

6. Letter Combination. Selecting letters and vowels to make a word.  Sony, Google, Yahoo.  These became a part of our vernacular and stand alone.

7. Acronyms.  Acronyms can be pronounced as a word Nabisco (National Biscuit Company) or as letters DNA (deoxyribonucleic acid). Easily pronounced and remembered for what the acronym means.

8. Auditory/Phonetic Spelling.  Pronunciation and spelling are key here.  There are certain homophones that play a role as well. Hi and High, Red and Read.  Phat and Fat.  Many are self explanatory High Mountains, RedHawk but some are needs like Phat or Fat need some clarification.

Naming a business can be difficult as how should the target market feel about the name, what should they think, and what should they do?  The name is the beginning of what you are telling them and what should they believe.

Starting a new business?  Ready to start the name game? Kherize5 can help get you started and select a name that is right for you.

photo credit: Larry Page