Creating a winning business name takes some thought but is one of the most important things youâ€™ll do during the process of starting a business. Starting out with a weak business name is like trying to golf with only one club in your bag. You may sink some shots but it will be a whole lot harder.
work through these five rules for choosing a business name:
1) A winning business name has to be memorable â€“ but easy to spell.
Obviously, your potential customers and clients need to be able to remember your business name. But they also need to be able to find it easily if theyâ€™re looking for it in a phone book, directory or online. So choosing a business name such as â€œCrychalwellynâ€ is a bad idea. Unique is good but difficult spellings are a bad idea.
2) A winning business name needs a visual element.
What popped into your head when you read â€œCrychalwellynâ€? Anything? Most people donâ€™t visualize anything when they read this business name that I invented. But generally we are hard-wired to â€œseeâ€ images when we read or hear language, and incorporating a visual element into your business name can be a powerful aid to customersâ€™ memory (and a powerful advertising tool).
So you want your business name to have a strong visual element to it. The catch is that...
3) A winning business name has to have positive connotation.
Many words have both denotation (literal meaning) and connotation (emotional meaning). A wordâ€™s connotation can be positive, neutral or negative, depending on the emotional associations that people generally make. The classic example is the difference between â€œMomâ€ (which has a very positive connotation) and â€œMotherâ€ (which has a neutral connotation). Now you know why they called them â€œDadâ€™sâ€ cookies, rather than â€œFatherâ€™sâ€!
What it means to you is that when you create a business name, you need to choose words that have the positive connotations that you want people to associate with your business â€“ and make sure these connotations are suitable for your business.
If you are starting a trucking business, for instance, you donâ€™t want it to have a weak sounding or negative name, such as â€œWillow Twig Truckingâ€ or â€œKitten Transportâ€. You want a business name that conveys strength and reliability. A choice such as â€œStone Creek Truckingâ€ would be much better. Notice how all these names have a strong visual element.
4) A winning business name needs to include information about what your business does.
Chances are good that your new business is not going to become an international brand. It certainly isnâ€™t instantly going to become as well known as Nike. So you need to be sure that your new business name at least gives your potential customers or clients some clues about what you actually do. Thatâ€™s why you see so many landscaping businesses that have the word â€œlandscapingâ€ in their name, and hair styling businesses that include words such as â€œsalonâ€ or even â€œhair designsâ€ in their names.
Including information about what your business does in your business name also makes it easier for potential customers and/or clients to find your business in phone books and directories (both off and online).
5) A winning business name has to be fairly short.
Once again this is vital because you want customers and clients to be able to remember your businessâ€™s name (and be able to tell other people what it is)! But itâ€™s also important for promotional purposes. You want a business name, for example, that will fit well on a business card, look good displayed on a sign or in an ad, and perhaps even a business name that will serve well as a domain name and show up well in search if you have an online business. So keep it as short as possible.
And a last tip: think about colours when youâ€™re choosing a business name. Colours will be an important component of your business logo and other business promotion materials and your business web site, and colours have strong emotional associations, too. Red, for instance, is an aggressive colour; its fiery elements are associated with speed, excitement and passion while green is a calming colour associated with growth, renewal and nature.
Youâ€™ll want to create at least two winning business names, and three is even better, because once youâ€™ve chosen a business name, the next step is to register it and your first choice may already be taken.