Once you have a great idea for a new product or service, you may decide to start your own company. One of the best things you can do to set your new business up for success is choose the perfect name. There are several criteria your business’s name needs to meet to be effective, so choosing a name can be challenging. Take the time to use these three tips to find a moniker that fits.
- Know Your Brand
You can’t choose a good name for your business if you don’t have a good understanding of your brand. Your company values have a direct impact on the type of business you own, and your company name should reflect your brand. For example, if your business caters to a young audience and has a playful brand voice, a cheeky company name may be appropriate. However, upscale customers won’t take your business seriously if it doesn’t have a formal name. Your company’s name should be the first thing that introduces your customers to your brand.
If you’re having trouble thinking of business name ideas, try entering your brand values into a name-generating website such as Namify. The website will then provide you with a variety of options that could work as your business moniker.
- Consider Your Industry
Think about the products or services your business offers. The industry you’re involved in may offer some guidance or inspiration for a company name. If you own a tech company that develops learning apps for kids, you may want to think of business names that incorporate key words such as “technology”, “kids” or “learning”. Nail salons may benefit from direct names offering nail services while artistic companies may need more creative monikers.
You also need to think about your target audience. These people will be your customers, so it’s important to give them a business name they can connect with. Try to make your business moniker catchy and memorable so people are more likely to remember it when they need your products or services. Namify is a great service to help create a business name that fits your industry.
- Do Some Research
Above all, your business name needs to be unique. Many businesses trademark their monikers, but it’s still important to research your competitors to make sure you have not accidentally selected the same name as another lesser-known company. A quick internet search is often sufficient, but if you need additional help coming up with a unique name for your company, Namify can help.
Finding the perfect name for your company is crucial for success, but it often feels like a daunting challenge. Not only does it need to reflect the brand of your business, but the moniker also needs to be catchy and unique. Stop stressing over you to create the perfect name for your business and start using these three tips. Using them can give you guidance on how to choose a moniker that will help your company succeed in the competitive business industry.
Kat Irving is a reporter for Diving Daily. After graduating from NYU with a master degree in history, Kat got an internship at WABC-TV New York and worked on profiling local businesses. Kat was also was a columnist for the NPR. Kat mostly covers business and community events here at Diving Daily