It is challenging to succeed as a small business or to keep a new venture alive in the long term. It requires a significant amount of work. But before you start thinking about funding or products, everything begins with choosing business names.
In this article, we will show you how to come up with some great ideas for names for new projects.
First, we will start with an exercise to get all the names you can think of down on a piece of paper.
1. How to Brainstorm Company Names?
You should start the naming process for your company as a creative exercise. Before you can reach the perfect name, you need a good number of options.
Sit down—either alone or with trusted advisors—and be creative. An easy way to generate names is:
Write Down Project Names in Front of You
Your business name should tell potential customers everything they need to know about your company. So, start by writing down all the words you can think of that relate to your brand and industry.
Do not try to analyze at this stage. Just write down everything that comes to mind, and you will end up with a comprehensive list of words and phrases related to your new business.
Use a Thesaurus
Take each of your words and look up related terms using a thesaurus. When you find a phrase or name not on your list, add it. If there are names that clearly do not have a connection, you can cross them off the list.
Now, you have a broad list of words to work from to find your company name.
Check Competitors' Names
Look at your competition and analyze their names. Have they used a creative name? Have they modified the spelling? Have they shortened the name and made it unique in some way? This will help you in the task of coming up with your own business name.
By following these steps, you will have a solid foundation to create a compelling and fitting name for your new business.
2. Have You Checked Common Types of Business Names?
After brainstorming and research, you will need to choose a type of business name that you are looking for. You can choose from one of the five best methods to select a distinctive company name.
1. Acronyms
This is a popular option for brands that want a short and easy name. IKEA, for instance, is actually an acronym combining the initials of the founder, Ingvar Kamprad, with the names of the farm and village where he grew up, Elmtaryd and Agunnaryd.
Another example is PWC. It was originally founded as PricewaterhouseCoopers and later abbreviated. When brainstorming, look for some obvious names and words related to you, your product, or service, and try to create interesting acronyms.
2. Real Names
Is there a better way to honor the person doing all the behind-the-scenes work than naming the company after your real name? Using your name or your family's name for your business is a classic option with long-lasting power. Think of Ford or the famous fashion company Louis Vuitton.
Using your name is a great option for consultants and contractors. However, it also has its drawbacks. Doing so insists that you be the face of your brand, at least in the early years of the startup. It might also limit ways to expand your business in the future.
3. Descriptive Names
A company name that describes the business or product creates immediate clarity. With a name like Etisalat Group, Pizza Hut, or Ma'aden, it’s hard to miss what these companies offer to consumers.
This is a great option for entrepreneurs who aim for simplicity when naming their businesses. While they may not be the most exciting or eye-catching, their staying power is undeniable.
4. Compound Words
Create your own compound word by combining two or more words you like together! The company name Aramco is actually a blend of the words Arabian American Oil Company.
5. Invented Words
Some of the biggest company names are entirely made-up words. Invented words for companies like Kodak or Sony provide the opportunity to create a fun, memorable, and unique business name.
By exploring these types of names, you can decide on a direction that best fits your new business and ensures it stands out in the market.
3. Create a List of the Best Company Names
Using brainstorming and common naming methods, you can create a long list of project name ideas. If you dislike a business name or if it has a negative meaning in a country you want to operate in, remove it from your list. You can narrow down the remaining names based on these questions:
1. Does the Name Make Sense for the Project?
You might have big ambitions for your new business and dream of becoming a huge company in the years to come. However, when you start, the name should make sense for your current brand. So, save the bigger ideas for later and remember that you can always change the name and rebrand when you expand. Many famous companies have changed their names and rebranded to align with their growth.
New businesses usually have a very narrow focus. The company name should tell your potential customers exactly what you offer. The right name for your business is the one that leaves no doubt in the consumer's mind. If they see you on Google or another search engine, you want them to know immediately that you are the brand for them.
2. Is the Name Easy to Remember?
A memorable company name is one that won't be forgotten! You can run the best marketing campaign, but you will still fail if consumers forget the brand name behind it in moments. To get a memorable company name, make sure the name is simple and unique.
If you choose long and unusual words for your company, it might not stick in the customer's mind. However, if the name is too generic, your target audience might find one of your competitors instead of you.
Remember, 84% of customers buy goods because of recommendations from others.
3. Is the Name Easy to Spell?
There are many reasons why small businesses fail. Don't let one of those reasons be that people can't spell your name correctly in a search engine.
You should make it as clear as possible for people to engage with your company. Don't make it hard for your customers to find your website, visit you on social media, or send you emails. So, keep it simple!
4. Does the Name Look Attractive?
You will use your company name for many things. It will appear on your logo and all your business materials as a big part of your brand. The ideal business name is visually appealing, with or without an icon.
Take the name Aramex, for example. The word itself is visually appealing. It has a kind of symmetry that is easy on the eyes. The company can then build on that to design a globally recognized logo.
By asking these questions, you can filter out the best possible names for your business and ensure it stands out in a meaningful and memorable way.
4. Have You Chosen a Unique Project Name?
Make it Original
Don’t be afraid to stand out from the crowd! To generate many options to work with, you can use Google’s keyword tool. It’s a great way to help you find inspiration for your name. By entering a keyword related to your business in its search field, you will get a graph of all the other related words.
Make it Future-Proof
An important thing you don’t want to do is choose a name that hampers your future expansion plans. One way to make your name future-proof is by thinking about your company’s story, values, and key differentiators during brainstorming.
How do you describe your company to others? What are you trying to achieve? What emotions do you want to evoke in your customers? Do certain qualities come to mind when you think about your business? What do you do differently? Get a piece of paper and a pen, and start writing everything down.
Make it Easy to Use
You have your first-round list of original business name ideas—what’s next? It’s important to choose a name that’s easy to say and spell.
This helps people find you quickly. If customers can’t find you, they end up finding someone else!
5. Have You Checked the Availability of Business Names?
Once you have a business name idea you are happy with, it’s time to do some research. If you are creating a website now or later for your business, you will want the name in your website’s URL, so check if it’s available.
GoDaddy is a tool to check website availability and helps you find alternatives. Type in your proposed company names to see if they are available. If they are, great! If not, check their availability in your country by trying .ca for the Canada or .ma for Morocco instead of .com.
Don’t give up. If the domain is not available, you still have options. You can add a word at the beginning or end of your name—common words include “app” and “get”.
Look at Namechk to see if the name you want is taken on social media, especially on the channels you will use to build your business.
If the name is not available, there are some easy tweaks you can try, such as adding a word or an underscore “_”. Again, check the content of the names that appear in searches to see who is using the name.
Conclusion
Your company’s name can significantly impact your business. Many people skip these important steps and end up with a poor name that negatively affects their branding and sales. By following these steps, you’ll get a name that people will remember and that will help customers spread the word and recommend your business to everyone around them.
