Seven Business Names: Ideas That Get It Right The First Time
April 30, 2008
Good business name ideas help you to create names that will serve your business well for a lifetime.
The following seven business names ideas will create a name that you’ll never have to replace:
Business Names: Idea 1 - Create numerous name options.
Business Names: Idea 2 - Choose a name that expresses what your business does.
Business Names: Idea 3 - Choose a name that leaves room for expanding into new products and services.
Business Names: Idea 4 - Be certain that the name relates positively to your target market.
Business Names: Idea 5 - Conduct trademark research.
Business Names: Idea 6 - Conduct target market research.
Business Names: Idea 7 - Consider the connotations and sound of the words for each option.
Business Names: Idea 1 - Create Numerous Name Options
Start with lots of business names. Ideas will be eliminated as you process through to determining the best one. So make a long list of name options. Ten options will do, but more are better.
Business Names: Idea 2 - Choose A Name That Expresses What Your Business Does
Does your name really represent your business? Are you so well known that your name will be an asset? If you answered “yes” to either question, you may want to use your name in your business’ name. If you answered both questions “no”, then don’t.
If your last name is “Small” and you specialize in renting small equipment, then you can use “Small Equipment Rental.” However, if you want to also rent large equipment, it will limit you.
Business Names: Idea 3 - Choose A Name That Leaves Room For Expanding Into New Products And Services
Just because you start your business with a specific product doesn’t mean that you won’t expand into different product lines. Your name should be broad enough to cover your business as it grows.
I learned this the hard way and had to rename my business within its first five years. I originally named it Sulton Books. “Sulton” didn’t add any value or positive image to the business, and “Books” kept me from expanding into other information products.
After the Twin Towers were bombed, the Arabic sound to “Sulton” became a distinct disadvantage. I was smarter with the second name, “Best Books Plus,” because “Best” added a positive connotation. “Books” was still appropriate for my business, and “Plus” enabled me to expand beyond just books.
Business Names: Idea 4 - Select A Name That Leaves A Positive Image With Your Target Market
Consider how each business name idea will impress target market members. This requires knowing as much as possible about your target market members so you can select a final name that they will like.
Still don’t select a name that is so specific to your target market that you can’t expand into new markets later. You don’t want to have to rename your business in order to expand it in anyway.
Business Names: Idea 5 - Conduct Trademark Research
You need research to assure that none of your business name ideas are already taken.
Search for the “United States Patent and Trademark Office” on one of the search engines. The correct site will end in “gov.” Once there, you can search for each name option to see if it is a part of a trademark. Eliminate all options that are taken to avoid possible suits and certain renaming of your business.
Business Names: Idea 6 - Query Your Target Market
It’s time to try your name options on members of your target market. Get as many as you can to tell you which name options they like best and what comes to mind with each option.
This is also a good time to get their feedback about your product. That feedback will sometimes give you even more name ideas.
Business Names: Idea 7 - Learn The Connotations And Hear The Sounds Of Each Name
You should consider the connotations and sound of the words in each because a name that sounds pleasant and flows well will generally work best.
And don’t forget that words’ meaning vary in different cultures. What you consider positive in your culture may not be so in another culture.
Avoid mistakes like that of the American car company. When naming a model “Nova,” no one checked to see what the name means in different languages. In one country, it means “no go.” That meaning wasn’t good for sales.
Summary
By using these seven business name ideas, you will never have to pick another name for your business.
Comments
Got something to say?