The Ultimate Guide to Picking the Right Business Name for Your Startup
As difficult it is planning for your startup, perhaps the most daunting task is actually to decide on a name for it. Whether that name holds its charm or not, it is there for a lifetime, so picking the perfect one is tricky. Here’s a guide to picking the right business name for your startup!
Research
Naming a business is essentially a creative process - because of the amount of elbow room you have, it can be tempting to jump headlong into it without doing any actual research. As important as it is to follow your heart and go with your gut, it is equally important to do some research.
Take note of famous brands in your niche. Why do people still remember those names? What can you do that attracts customers the same way but still sounds different enough to stick out? What names does your target audience like hearing? Make a list of competitors and move from there!
Brainstorm
To be able to pick out a name without any regrets, you’ll first need a list of as many names as possible. There’s a chance that any number of them may end up sounding ridiculous as an actual business name.
Understand the psychology behind a name. Make sure you are aware of language connotations, as well as various cultural and slang connotations. What seems okay to you may mean something utterly obscene in another language. Try to focus on names your potential customers can relate to.
Shortlist
Once you have your never-ending list of ideas for business names, it is time to shortlist them. Have a clear goal in mind - the audience wants to relate to your brand, not you personally. Make a list of questions, and shortlist any names that don’t fit that criterion.
How does it look in writing, be it all caps, shorthand, or italics? What does it sound like when you say it out loud? Is it difficult to pronounce? What does it sound like in other common languages? Is it catchy?
Generate taglines
After shortlisting, you should have a list of the top five or ten business names that you think are perfect for your niche. Try to think of taglines for these names. Do they work? Which names don’t seem to have taglines at all? This should narrow down your options by a lot.
Get feedback
The last step to choosing the perfect name for your startup is to get feedback. Whether it’s family or friends, make sure you ask a few people before finalizing it. Do they like the last couple of options you have left? Is the tagline something they think will stick?
Make sure you get their input, so you have an outsider’s perspective about your ideas rather than just your inherently subjective opinion.
Choosing the right name for your startup is, without a doubt, more harrowing than it initially seems. However, with this guide and a clear goal in mind, you’ll be able to choose something that will convey your message to your customers!