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Today’s guest post comes from Grant Polachek. This is an informative piece about finding and marketing creative and unique company name ideas.
Here’s More about Grant:
Grant Polachek is the Director of Marketing at Inc 500 company Squadhelp.com, the worlds #1 naming platform, with nearly 20,000 customers from the smallest startups across the globe to the largest corporations including Nestle, Philips, Hilton, Pepsi, and AutoNation. Get inspired by exploring these winning company name ideas.
The Ultimate Name For Your Business Is Out There: Here’s How You Can Find It
Naming your business is one of the most important things you can do when you are launching your startup. A name will be the very first thing a potential customer or client will find out about your brand. A good name will summarize your brand’s identity, values and beliefs.
Despite naming being a challenge, it shouldn’t have to feel like you’re wandering alone and confused without a direction. If you follow the three stages detailed below, you will be able to organize your name ideas and have a successful brand name.
Stage One: Mission and Vision
Outline your brand
When you start the process of choosing a name you want to collect all of your brainstormed ideas in a singular place. Make a Word document or find a notebook that you can check back with during the naming process. Make sure that you start your document by writing down any central aspects of your startup. What services or products do you provide? What are your core values or beliefs? Why is your business important?
Write up a list of seven to ten of your top existing business names. After you have written the names all written down you can begin to dissect them. If you need help with this step, check out this catchy business name list. In addition, start with a few bullet points about each name and why it is successful for its company. Analyzing your top existing industry names will give you some direction throughout your naming process.
Reflect on your audience
When creating a name, you need to have one that your audience will be drawn to. For example, a shoe brand targeted at wealthy middle-aged professional men will sound very different from a shoe line intended for modern students. There’s a good reason these two shoe brands sound nothing alike. Your startup name should reflect your audience and not necessarily you as an entrepreneur. Many effective names have a specific audience in mind and appeal to them through their shared beliefs and values.
Where do you see your brand at in five years? What about twenty years? If you want to create a startup that could grow into new and different areas in the future, be mindful not to go with a name that will pigeonholes your business down the line. Thinking ahead with your name will prevent you having to go through a costly rebranding process in the future.
Try to condense your mission and vision in a short statement like these examples:
- We need a name that sums up our cool, matchless approach to selling razors.
- We need a name that establishes us as a fashionable, youthful brand.
- We need a name that hints at our sustainable and green business practices.
Try out writing a few project statements for your own startup to get your creative juices flowing!
Stage Two: Get Creative
Collect some names
This is the most fun part of the naming process and it’s important to start broad. There are many different categories of names, for example some are eloquent, conceptual, expressive, or traditional. You can combine words to create a new name, or use two or more separate words for your name. Brainstorm business names by jotting down an example for every type of name from the list. Trying out this exercise will give you plenty of names you have to work with and the more names you have the better final name you will end up with.
Cut down your list
Once you have created a broad list of name ideas, you can start getting rid of names that won’t work for your business until you only have a few of your favorite names left on the list. This part of the process is actually a good opportunity to get some additional opinions from your friends, family, and members of your target market.
Stage Three: Check your Boxes
Find a domain and assess your risk
A great domain name for your startup goes well with a solid brand name. Your website is important because it will inform potential customers and clients about what your business does, so it is important to have a domain name that matches your brand name.
Trademark validation for your startup name is the last step you can take to secure your name. All you have to do is run a quick and easy trademark risk test to double check that your name isn’t in use by a comparable business. If you’re proactive in preventing any trademark risk will help you avoid complicated legal issues down the line.
Thinking of a name for your business can seem intimidating at the beginning. Names are so integral to the success of a business that it can seem daunting. A good name will encompass your brand’s identity, and it creates a point of connection between your startup and your audience. If you think all of the best brand names are taken, don’t worry. If you follow all three of the stages explained above, you will find the perfect name in no time at all!
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