What’s in a name?
The name of your company is the first thing people hear or see and having a good name is crucial to making a great first impression. Follow these tips to avoid being the next “Fifth Third Bank” and more like the next “Google”.
Keep it Simple — You want your name to be short and punchy and easy to remember. Avoid confusing names with obscure references. For example, at first Jeff Bezos wanted to name his company “Cadabra” not Amazon. The problem was this was hard to say and no one got that it was a reference to “Abracadabra”.
Avoid Puns — Puns are not funny, you only think they’re funny. Even if you manage to create a great pun, then the name of your business is literally a joke. If you want to take your company seriously, give it a serious name.
Say the name out loud — While researching this article, we had to look up a lot of bad business names and one of my favourites was “STD Contractors”. Now I’m sure the idea behind this wasn’t too bad; a few friends probably got together and figured ok, let’s use our initials and then tac on contractors at the end because we’re contractors. I guarantee you, no one said this name out-loud because if they had, they would’ve realized how plain ridiculous it truly is.
Include your name — if the company fails then you fail with it. That will set you back in future business ventures and may even lead to some angry customers coming after you, who knows. Our DJ Khaled key is to not make any reference to who you are in your business’s name.
Try to Copy the Competition — Picking names similar to your competition will do absolutely nothing for you. If you’re up and coming they’ll just think you’re copying the better company and customers won’t be coming to you. Additionally, being unique is more likely to get customers to remember you and is more likely to even get you at the top of search-engine results.
Waste Time — Don’t spend hours trying to think of a name while you’re still trying to engineer your product. Don’t spend time trying to create a name before you even know what your brand is. Focus on the important parts of your business — a name will come.