How to name a business

OwnyxOwnyx Posts: 2subscriber Member
edited April 2016 in Business Planning
A name should be catchy, unique and brandable, with available domain.com and (or) co.uk
There are a variety of free and paid ways to come up with name for your startup or new product.
Here are some of them:
1. Organize a naming contest. The one of the best platform is CrowdSpring.com. Dozens of creatives will offer you hundreds of variants.
2. Try name generators such as Wordoid, DomainPuzzler or Impossibility. It is free!
3. Buy ready business set of name, domain.com and logo. Most popular marketplaces are BrandBucket, Namerific and Ownyx.com

By the way I would like to know your opinion. What`s name is better: short made up (e.g. ASUS) or combo of 2 real words (e.g. FaceBook). Thank you.

Comments

  • indranibilupindranibilup Posts: 6subscriber
    scan your business demand, people and how you want it to be and then a name will automatically pop ups on your mind? IF not then discuss with your family & friends to get one
  • helenbloghelenblog Posts: 12subscriber Bronze Level Member
    Easy to spell
    Positive connotation
    Describes what you do
    Peeks interest
  • Matt_ShieldsMatt_Shields ClevelandPosts: 32subscriber Bronze Level Member
    Has anyone here tested a brand name via Facebook ads just to see how people in your target demo+psychographic will respond? I think it can be a quick way to test which name will stick the most without spending lots.
  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. Posts: 978administrator Site Admin
    That is a great idea, @Matt Shields. That makes a ton of sense. 
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
  • John DowJohn Dow CaliforniaPosts: 6subscriber Member
    OP, I think your name should incite positive emotions and somehow relate to the product/service you are offering. Personally, I prefer combinations of descriptive words (i.e for a financial advisory company, FinancePutSimply). That is just my opinion, though.
  • Matt_ShieldsMatt_Shields ClevelandPosts: 32subscriber Bronze Level Member
    Thanks Ryan. Also, another technique to create a new name is to compile a list of words that relate to your offering. Normally, I will think of a few terms, then go to a thesaurus and look through the list of other words that relate to the original keyword.

    What you are looking for is a word with the second to the last letter = a vowel.

    You then do another search (normally I use the scrabble word finder) for words that start with the same vowel for the second word. Then, you put them together.

    There are a few very high profile startups that used this method, for example:

    Keyword: Pin
    Secondary word: Interest

    ...you put them together = Pinterest

    A great book on naming is 'Hello My Name Is Awesome...' by Alexandra Watkins.
  • McCandlessMcCandless Boca RatonPosts: 52subscriber Bronze Level Member
    Naming a business can be a daunting experience, especially since we attach so much meaning to names. However, I think the emotional over-attachment needs to be removed. I think testing and validation are far more important! My tips:

    First, come up with a feel for the name. Ideally a short word, shorter than 6 letters if possible. It can be a made up word (Zyppos) that feels right, a portmanteau (Linux), a misspelling (Google), or whatever you like!

    Second, check the name (and slight variations) for the website availability. Of course, you can use common variants like adding 'app' to the word (Bufferapp.com), or the common suffixes and preffixes (Shopify, Spotify). There are tools for this to check in bulk to make it more efficient.

    Third, once you have a few name alternatives, how do you choose the best one? Easy, take out Google Ads and test them all. Make a simple landing page where you can collect emails too! If a person gives you their email, you can assume this is a 'sale'.

    The ad with the highest number of 'sales' should decide what name you should use! You have your name, and it's already been validated for you.
  • YourRetailCoachYourRetailCoach Pune, IndiaPosts: 30subscriber Bronze Level Member

    To name a business to make sure the name that you selected is not confusing and very long. There are even Dozens of creative websites that will provide you with various names that shall suit your business.

    YRC is a Management Consulting Company, especially for the B-C Sector. Our expertise lies into designing of Standard Operating Procedures, Franchise Development, Strategy & Operations services, Process Audits & Training. 
  • CurtisMLeeCurtisMLee Posts: 34subscriber Bronze Level Member
    1. The name needs to sound good when it's said aloud. 
    2. Use a name that has meaning to it and conveys a benefit.
    3. Avoid Web 2.0-ish syndrome.
    4. Beware initials.
    5. Use specifics.
    6. Make sure you can trademark the name.
    7. Test it out on Google AdWords. 
  • saravanansaravanan Posts: 358subscriber Silver Level Member
    The most important thing to remember is that your company name needs to communicate with your potential clients or customers. It needs to embody your company goals and vision.
  • Em.reedEm.reed Posts: 11subscriber Bronze Level Member
    Great ideas here! Also check for trademarks on your name, especially if they are in the same industry as your business. You can do this through the United States Patent and Trademark Office. I can't post the link, but if you google "United States Patent and Trademark Office", then click "Search trademark database", then "Search our trademark database (TESS), then select a search option (I usually start with "Basic Word Mark Search"). 

  • John G. AnaiJohn G. Anai Posts: 4subscriber Member
    Hi
    Choose the word which is easy to spell.
    Use a name that conveys some meaning.
    Don't pick a name that could be limiting as your business grows
  • LouBerryLouBerry Posts: 11subscriber Bronze Level Member

    Wow, lots of really good insight here.

    To answer your original question, I think it would be difficult to decide on whether a short made up name or a combination of two real words would be a better choice because that really depends on what you want your brand to convey.

    My advice would be to pick a name that is easy to pronounce and recognise. Friends of mine have tested this by using what they call the "bar test"... Pitch the business name to someone (could be a friend or a stranger) at a loud and crowded bar. If the other person is able to clearly hear and correctly repeat back the potential name of your business, then that's a good sign!

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