How to Choose a Name for Your Business

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How to Choose A Name for Your Business

You’ve spent months working on your product, perfecting everything from its functions to its looks. After the arduous work and sleepless nights, you’re finally ready to launch, but you’re missing one key ingredient—a way for customers to know you. A company’s name can seem like an afterthought, especially when some successful businesses seem to have picked theirs out of a hat. Even so, a name should not be on the bottom of your priority list.

While some names may seem unrelated, they serve a purpose, and are intrinsically tied to how people will view your brand, and thus how well they will eventually connect with it. As such, choosing a name is not unimportant, but a key consideration when creating your brand. Still, it’s not always easy to find a way to arrive at a catchy name for your company, and you can waste precious resources and time banging your head against a wall. Luckily, it doesn’t have to be all that difficult! Here are some of the best ways and tools to choose the right name for your business.

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Determine Your Values

A name is a short way to introduce the world to your company. Google’s name, for example, is derived from Googol, a massive number that represents their expansive results. Understanding the words that define you can give you a great starting point when trying to identify a name that fits. Where those words come from, however, will vary depending on your company.

There are several great exercises that can help you build a great list of words related to your industry, business, segment, and even core beliefs. Once you have a list in place, you can start looking at combinations of words and find great unexpected gems that can lead you on a creative journey to success.

Understand Your Industry

While every company is unique, there are clear trends that emerge in names for every industry. Most law firms avoid quirky tech-sounding names, opting for more staid titles, while companies in the online world have gone the complete opposite direction, with random words and even acronyms that appear to be random. This doesn’t mean you should follow what everyone in your industry is doing, however.

Instead, understanding trends can help you better identify what your customers like or will appreciate. Consumer preferences shouldn’t completely define the path towards landing on a name, but they should inform it. If your name is your business card, it’s best to make it something the right audience will be curious about.

Play Some Word Games

Creative thought is easier said than done, and having to come up with something on the spot can leave even the best thinkers with a blank look. To find different ways of bringing together values, words, and ideas, think of your company in different ways. Play with different arrangements of words, add and remove ideas, and simply jumble them around. Finding diverse versions of the same word-list can help you identify something that works just right.

Start with free association, choosing one word that describes your idea and seeing where your mind takes you without prompting. You can also try more structured exercises and games that can help you start connecting dots and coming up with more unique names and combinations. Regardless, it’s important to stimulate your creativity to avoid coming up with a repetitive or generic-sounding name.

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