How to name your business

Photo by Emily Morter on Unsplash

This may seem like one of the easiest things to do around starting a new business, but it can be difficult. It can also be quite dangerous, at least when it comes to the growth of your business. Choosing a name for your business needs time and thought.

The Big Idea

Your business name has to stand for something. Over the years ahead, it has to immediately convey an idea or a feeling. At the very least it should tell people what you do.

Some business owners, when given that free and rather exciting moment to choose their business name, opt for something that says nothing about the unique offer of the company. And then they wonder why no one is picking up the phone to make an order. People simply don't know what you are all about.

One guiding principle is to try to create a business name that alludes to what it is you do. You don't have to include the word ‘plumbing’ in the name of your plumbing business, but perhaps the words ‘standard’, ‘quality’, or anything else that shows a company that cares about the work it does, is what you should consider.

Don’t be funny

Try not to be. Humour is always subjective, and if you’re planning on basing your business name (and your future) on your sense of humour, it could backfire massively. The only way to use humour with a cast-iron guarantee you won't offend customers is if you know your customers inside out. And that takes years of business first.

Can it be heard right?

Choose a name that you know can be clearly heard over the telephone, or in the din of a networking meeting. This makes it a lot more sensible to simply create a one word name that is immediately understandable. The word ‘apple’ springs to mind here.

You need a name that people cannot mishear. If they do mishear it, the effect of the business name is immediately diminished, and subsequently so is your brand. Keep it simple and easy to pronounce if you want to ensure people remember you for longer than ten seconds.

The domain is not that important (yet)

We wouldn’t recommend the route many businesses have taken in the past (especially during the dot.com boom) where you check to see if your name is available as a domain. With new domains being made available and ‘dot.com’ not being as important these days, it is much better to get that name right. Try it out yourself in front of a mirror when you are practising your elevator pitch. Talk to your family and friends and ask them to be honest about what they think of your ideas. Ask them if they would buy from a company with that name. And then ask them if that name suits you, the entrepreneur at the heart of it all.

The ten year test

Some businesses do make it to ten years and more of life. Many don't. The one test you can definitely carry out against a business name idea is the ten year test. If you can imagine using that name in your marketing, right down to your letterhead, in ten year's time, you may just have the name you deserve.