Properties of a Good Business Name
The name should be unique
Your business name should be unique and not easily confused with other names. You don't want your clients to confuse you with other similar companies. Word of mouth is the most successful method of marketing. When people talk about your company they often will not be giving out your phone number, address, or website domain name. Make sure that when people talk about your business there is no confusion as to if they are talking about another company.
The name should be memorable
Your business name should be easily remembered when shared with others. You want your clients to have your business name on the tip of their tongue when telling others about your company. When people hear your business name, by word of mouth, you want to make sure they remember the name without needing to write it down.
The name is best if it describes your service/product
It helps if your business name describes the business, or at least hints at the service or products the business provides. You want people to feel confident when they approach your company for service.
How to Get Started
When choosing a business name it is important to consider the industry you will be competing in. Do you need a serious name or a catchy moniker? To identify some possible names, create a long list of words associated with the industry or product you will be servicing or selling. Use a
thesaurus to identify unique words that describe your business. Mixing and matching these words is one of the easiest ways to create a name. Consider how easily your name can be included in a company logo. You might be considering a long, descriptive, business name but consider how complicated it will be to fit this name on signage, business cards, logos, etc.
What to Avoid
Avoid hard to spell names. Although some brands have found success with mispelled or complexly spelled names, in general, it takes more marketing power to get traction with names that are not easy to spell. Avoid hard to pronounce names for the same reasons.
Deciding on a Name
Make a short list of names that you like. Do research on which names are trademarked. Be sure to also check the availability of domain names. Share your list with friends and have them rank the names. Keep the list around and pull it out a few times a week and go over the names. Envision what each name makes you think of when you read it.