If you think of any great company in history, you probably remember what a wonderful name they had. Every good company name is short, to the point and communicates a brand and each person’s mind. But, not all entrepreneurs and small businesses have the luxury of picking the perfect company name with a team of corporate branding companies. And, that is okay because…
The really awesome or very good company names are born in the minds of their customers, employees and stakeholders. Often times, companies start out with a less cool, attractive and brandable name. Then, after years of success in business, they eventually modify the brand to become the name you are most familiar with today.
How does the company rebranding process work? Most start ups, especially those led by less experienced founders, will probably end up serving a slightly different purpose than the company originally imagined. As a result, rebranding the company becomes essential at one point or another to better leverage the company’s potential brand strength.
What does this mean for someone who is just starting out? It means you do not have to get it perfect on the first try. So, if you have any fears about naming your company today, remove them. Although a corporate brand is a strong intangible asset to have, it does evolve overtime. The most important thing for any young company to succeed at is providing a product or service better than their competition. Sometimes, it can be easy to get lost in the soft details.
Now, I’m not suggesting to anyone to completely forget about naming your company something attractive, catchy and professional. Of course, you should try to choose a good company name that is short, easy to remember and brand-able. To get started, and good technique is to look at companies that you already think are doing a good job of branding themselves. Then, you can make a list of all the factors of a good company name that you would like to incorporate into your identity. In case you are having trouble thinking of some criteria here is a short list:
- Keywords inclusion
- Category identification
- Industry specification
- Emotional response
- Ease of spelling / understanding
- Sound spoken aloud
There is, of course, one more criteria all business names should seek to meet, and that is “stickiness.” Think of as many cool brand names you can. What do they all have in common? It is more than likely that these creative business names stick to your mind from the moment you first see them. The Shopify name is one such example. From the first time you heard it, it has stuck with you. Having your company name stick to a potential customer’s brain when they first hear it makes them more likely to remember you down the line. So, learn from a cool company like Shopify when starting your own online clothing store, and make sure your company name sticks.
Finally, once you have some good examples of company names that already exist along with aspects that work for you, it is time to brainstorm some ideas. You can use a dictionary, keyword search tool or thesaurus if you need additional help. Then, you can narrow down your options to a small list to try out on friends and family.
Image from http://startups.co.uk/naming-your-sole-trader-business/