Choosing the right name for your business/product/service is an important step in becoming a business owner. Your brand name introduces you to the business world and establishes your public image. If a product name is well chosen, it’s a brand customers will want to associate with and a name they will never forget. Although finding a suitable name can be tricky, it will go a long way in helping you achieve business success. The following 9 tips will help you design the best name for your business.

1. Begin the Brainstorm

Think about your company; what does it do, what is its mission, what are the values it represents? The name of your business embodies who you are as a company, so take ideas from aspects of your business to launch your business name brainstorming.

2. Communicate with Customers

Ask yourself what you want to communicate to your customers. Think about the image you want to represent. Do you want to stand out or blend in? Some companies strategically don’t use bold names because it suits their target market. For example, a financial company may name itself “J.Brown Consulting” after its founder to give an impression of timeless credibility. Although this isn’t a new idea, it’s shaped to suit the industry.

3. Think Outside the Box

Consider the influence of language and culture on the name you’re choosing. Is it specific? For example if you live in a French speaking country, naming your company/product/service in French may be accessible to your local market, but what about your foreign market? If you want to export products, it might be wise to imagine how other people will view you, if they don’t know your language or culture.

4. Take Your Time

Spend time thinking over all your ideas. Take as many days as you need to find the best name for you. Some big companies even hire expensive consultants to help them choose the right name for their business. This gives you an idea of how important the right name can be for your business. It can act as an investment for the future.

5. Keep it Simple

Stick to names that are simple, easy to spell and easy to say. Starting off a business meeting having to apologise for, or explain your business brand, may not be putting your best foot forward.

6. Make it Memorable

Choose a name that’s easy to repeat and easy to remember. Sometimes associative names or adjectives can be effective to help remind people who you are. For example, if you offer a lawn mowing service you might call yourself ‘Merry Mowers’. This not only describes the business, but projects an image of a happy service and a company that wants to do the best for their customers and employees.

7. Grow with it

Try not to limit your market through your name choice. If you call your soap company ‘Soap for Africa’, you may have a problem when you want to make other products. So even if your line of work is niche market focused, it might be an idea to use a more encompassing name to make room for expansion in the future.

8. Think Smart

Remember Trademark laws to avoid having to change your name in future or face a law suit. Trademark makes company names or symbols the property of that business. This means that you can’t copy other business names because they are the intellectual property of someone else.

9. Inspire Yourself
Most importantly, make sure that you love your own brand name. If you love your business and
you love its name then you’ll be proud to talk about it and offer its services. It’s your business at the end of the day so call it something that inspires you.

Adopted from the Africa Report