If you’re like most entrepreneurs, your business is your baby. And just like a baby, naming your business is difficult. You spend hours contlemplating the perfect name, and your end result is fairly simple. It can’t be that hard, right?
Here are some pointers to consider when naming your business:
Avoid Generic Names
It’s hard to stand out from the crowd of competitors, and choosing a generic name will botch your chances. Names like “U.S. Steel” and “General Market” will roll off the tongue, sure, but scream unimaginative and bland. Would you rather go to Kroger, or another store down the street called “Supermarket”?
Keep the Name Simple
At the same time, it’s paramount to avoid names that feel forced with nonsensical hidden meanings and multiple syllables. You don’t want a name that people will forget, and you definitely don’t want to make it so convoluted people have to think about its origin. Nobody is going to think you’re clever for naming your furniture business “Hestia’s Hearthstone” after you explain to them that Hestia is the Greek goddess of hearth and home while a hearthstone is another word for a fireplace.
The Name Should be Descriptive
Piggybacking from the point above, again your name shouldn’t be too convoluted and should convey your services loud and clear, reflecting your identity. Some large company examples include Coca-Cola, Rooms To Go, and Discount Tires. A quick look at your local online map can give you plenty of small-business examples. While a large number of companies get away with undescriptive names, such as Apple and Nike, they’ve had decades to establish their name all while spending a fortune just for name branding. Those businesses can afford it. If you’re at a point where you’re just now naming your business, chances are you’re probably small and should stick your budget to obtaining leads and resources.
Make Your Name Last Forever
Businesses should definitely take advantage of trends and fads, but they know it’s not a long-term solution. The same goes for naming your business. It might be great for short-term turnout but it’s not going to resonate with consumers a decade or even a year from then. If your name stands the test of time, businesses use that to their advantage.