How to name your business or company

girl-visiting-card-company-nameIt seems that, how to name a company has been the smallest yet most difficult task while starting up. It’s a task that probably can be completed in a couple of minutes or can take days of head banging before you arrive at the right name for your business

Most of us (whether we take the plunge or not) keep fantasizing different names. That’s sheer waste of time. Day dreaming to be precise. But if your stuff is ready to launch and you dare to make it big, a good name can boost your dream forward.

Why naming your company is such a big problem? Probably because it is the way you think. We try so hard to be the best in everything we try to do,  that we end up either not doing it or messing it up completely!

Probably there can be a huge list of a thousand to dos and not to dos while you plan to name your company. But end of the day it boils down to the following few Golden Common sense rules

The Golden rule

The first and most important rule to be followed while naming your venture is that it should be remember-able. The market should recall your name when similar products/services are discussed. If they don’t remember you, they can’t talk about you. And if you can’t be talked about you are dead. Period.

Kiss your name and make it brand able

KISS simply stands for – Keep it short and simple. Names like Google, Nike etc are easy to read, easy to remember and understand. That’s because they are short and simple. They cant be misspelled, are cute and easier for the mind to digest. When it comes to longer and complex names, forget about spelling or recalling, they are even difficult to think about. At the same time these names need not have any specific meaning but they should sound like brands! An iPad is a brandable name for a slate.

Make it Connect

Once you have a bunch of names ready, take the connect test. Does the name relate well with the crowds. Is the market able to connect with the name? Most of this definitely happens once the brand starts delivering, but it is quite important that a company name makes it easy for your venture to get in the good books of your market. It should inspire trust, goodwill and be friendly all at the same time.

Check for domains and Intellectual Properties

Until and unless you live in the caves right in the midst of Himalayas you do understand the importance of the internet life and why it is important to have your own domain name. Once the brand starts delivering, people (in most of the cases) will start Googling you to know more about it. And the worse thing that can happen is that you don’t appear in the top results.

Intellectual Property legalities should also be kept in mind right from the start. Having a Trademark and registering the venture is equally important. So there are 2 searches that you have to make. One with the registrar of companies in your country and second is a domain name search.

It’s not about you!

Most of us think about a bunch of names based on certain criteria and finalize the one that fascinates us the most. That’s absolutely wrong! Don’t even dare to choose a name you like.

Try always choosing a name that the customer likes. Do a bit of research, have some focus groups and decide whether the name chosen actually makes sense with the market. End of the day it’s the market who will shell out the moolah.

Have a vision

At times we think from a very narrow perspective. Businesses are built upon visions and so should be their names. What is the business going to do? Will you diverse in other areas? What is the vision of this brand? If you want your brand to survive for decades; be prepared to choose a name that lasts for that time and keeps the brand value intact. If 5 years down the line your venture selling clothes will diverse into shoes and bags too the name should still be relevant. Right?

Have a Good Night Sleep

Ok this one is a bit different, but it works. Basically take a break. Sleep over your choices. We think too much to stress our brains and mess up the whole process. Having a good night’s sleep releases your brain muscles and helps boost your creativity.

Maybe the next time you wake up a new point clicks in your nerves that you never even thought of! But there is a caution to this, don’t end up in the unlimited naming game. There has to be a deadline and the name has to be finalized.

Bonus Tip

Incase after a quick run through, you realize that the right names are already been taken try to create a combination of words. Don’t forget the power of combination which has helped many brands get their names. Right from Microsoft to iPhones brand names derived from combination of words are both brandable and recallable.

As I said there can be thousand dos and donts but the above list is precise enough for you to consider and get help while naming your business.

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