Finance

7 Effective Tips for Naming a Business

Are you launching a new business but don’t have a name for it yet? Thinking of a business name can be challenging with so many similar businesses out there, but it’s not impossible.

All you need is a brainstorming session, a little creativity, and patience before you land on the right business name.

Check out these 7 simple tips for naming a business and find the perfect name for you.

  1. Brainstorm Ideas

Before you think of a great business name, you need to brainstorm ideas and write down everything you can think of. You can write words, phrases, synonyms, abbreviations, descriptions, and anything else that reminds you of your business.

You can also check the names of your competitors for inspiration and see what you can come up with to stand out.

  1. Consider Acronyms

If you want to describe what your business does but can’t use all descriptive words, consider using acronyms. This way, you can staple together the first letters from each word and still have a short name.

For example, IKEA is an acronym for Ingvar Kamprad Elmtaryd Agunnaryd. Ingvar Kamprad is IKEA’s owner, Elmtaryd is the farm he grew up on and Agunnaryd is his hometown.

  1. Use Online Name Generators

If you’re all out of ideas or just need some inspiration for naming your company, don’t be afraid to use online name generators. This method is a hit or miss but you can still find some gems in there.

Some of the most popular name generators include Namelix, Namemesh, Wordlab, and Shopify Name Generator.

  1. Check if Your Chosen Name Is Available

Before settling on a name, check if the name is available to use legally. This means checking if someone else is using it or has trademarked it before. Read this Opstart.ca article to learn how to search a business name for availability and the steps to take to secure it.

  1. Use Your Own Name

When all else fails, why not name your business using your own name? You can easily secure a domain name and build a personal brand from scratch. Make sure your name is not taken by someone else with the same name and that you can use it freely on social media.

  1. Change the Spelling

Sometimes, the best business names came about in the simplest way, by changing or tweaking the spelling of an existing word. Take for example Krispy Kreme, Kellogg’s Froot Loops, and even Google – intentionally changing the spelling to make the name more fun and memorable.

  1. Keep It Short and Simple

Short and easy-to-pronounce business names are key to being a memorable brand that people can recognize. This is also useful when buying a domain name and securing social media handles.

At the same time, the shorter the name, the better the branding will be. You can easily fit it on the packaging and make it instantly recognizable.

Find the Perfect Name for Your Brand With These Tips for Naming a Business

Whether you’re a new business owner or a serial entrepreneur, finding the right name for your business can be challenging. These tips for naming a business will help you brainstorm ideas and find the perfect brand name that you can grow with.

Want more business and branding ideas? Read some of the other articles we’ve written on these topics and come back again to discover more useful articles for you.

 

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