I always tell people the hardest part of starting a business is coming up with a name. Almost everything else you can change and evolve as your company grows, but you don’t want to change your name unless absolutely necessary. This means that you need to spend a little extra time and effort coming up with a name that can grow as your business does.
1. Brainstorm Ideas
Sit down and think about what you want your business to represent, or what kind of market you want to appeal to. For my blog, I knew that I wanted it to be clear from the website address exactly what my blog was going to be about, which is finance. I also chose a website URL that has both the main topic the name, as well as including the word blog. I know that people will know within a second of reading my website’s name exactly what the purpose of my website is. Think about what impression you want people to get from your brand’s name? You may want to find something short, snappy and memorable like Google. Knowing what kind of image you want to portray is key for coming up with ideas.
2. Use a Business Name Generator
If you’re finding it harder than you expected to come up with ideas, don’t worry, there are some wonderful options out there to get you started. I personally like using this business name generator to come up with ideas. You just input your industry, as well as a word you’d like to have included in the name, and click go. You’ll be presented with a number of options, as well as shown which ones have the URL available to purchase. This is one of the biggest considerations if you’re going to have a website for your business, as you want a business name that is also available as a domain name. As time goes on, it is quite frankly harder to find original names that also have the domains available, so this tool helps you not only come up with fantastic ideas, but also those that will allow you to create a great website to go along with it. A business name generator saves you a lot of stress while providing you with some great options for your new business name.
3. Don’t Overthink It
While it’s important to find a name you like and one that can grow with your vision, it’s very important you don’t use this as an excuse to not move forward. It can be tempting to keep procrastinating until you find that “perfect name” but the truth is that it may not exist. You’re going to want to focus on finding a name that you like and that works well for your product. Also think in the long term, if your business is as successful as you hope for, will this name work for you in five or ten years? These are things to think about before you get started, but spending months or even years trying to find the perfect name isn’t going to make your business any more successful.
4. Ask for Feedback
It’s a good idea to ask friends and family for their opinion on your name options. Asking for feedback is a great way to see any issues that people may have with the name, or just to generally see what names people prefer. Be sure to ask people who are your target audience, though. If you’re wanting to focus your business to young unmarried people with a ton of disposable cash, asking your retired grandma what she thinks maybe isn’t the best way to get relevant feedback. Listen to the feedback you receive, but also pay attention to what your intuition says. If you have a strong feeling to go with a specific name, then trust your gut and go for it!
5. Give Yourself a Week or Two to Think
I am a big believer in giving yourself a little bit of time to mull over big decisions. If I want to buy something expensive, I always leave the store so that I can allow my emotions to cool down and if I really want it the next day, then I’m happy to go back and get it. I take the same approach when making big business decisions, such as coming up with a business name. I’ll give myself a week or two to mull over the name in my subconscious, and if I still love it at the end of the time frame then that’s a good signal to me to go ahead with it. Be sure to set a time limit on it, though, and once the time is up, if you are still happy with it then you need to get moving. You don’t want to use this step as a way to procrastinate. If you wait too long you may end up losing momentum with your new business.
Choosing the perfect business name doesn’t have to be hard if you take these 5 tips on board. I hope you find a name that you’re truly happy with and that allows your business to thrive.