How to Name a Company
Do you want to know the best way how to name a company? Are you searching for the ideal company name that will lead you to success? Do you want to know the things that you should avoid when naming a company?
If your answer is yes, this article will prove to be helpful in your quest of finding the best name for your company.
When starting a company, one of the first steps that you will have to take is what you will name it. Like a human being, company must have a name in order to identify itself from the rest. Naming your company may not be on the top list of your priorities right now, but image is everything in a company. And putting a name for yours could either spell success or disaster for your business.
In today’s highly competitive business environment, making your company stand out and be easily recalled by customers is now more important than ever. And the name of you establishment is the most critical part of this.
In this article, you will learn the process on how you can discover the right name for your company. You can also use this guide to name your products and services as well, so that you can make them stand out and thus, more profitable.
Set your Standards to Name a Company
So what’s in a name? Well, there are actually a lot, but the factors that make it into a good company name include the following:
1. The name is easy to remember
2. The name is easy to spell and can be understood at first glance
3. The name describes the business
4. The name describes the benefit the company will give to the customer
5. The name describes the difference the company would make compared to the competition
It is also recommended that the company name must only be one or two syllables long, and with each syllable starting with a strong consonant such as B, C, K or T. It would also help if the name is fun to say and “rolls off the tongue”. Now, it is not necessary that you follow all of these rules in naming your company; the important thing is that you pick one or two standards and strictly follow them.
Getting the Tools You Need to Name a Company
Although a great name could sometimes fall from the sky, it usually takes time for one to surface. But first, you need to establish what is called a “Naming Team”. This team, which should be composed of three to four people, would be responsible for meeting on a regular occasion and brainstorming the company’s name. Also, you will need to have some simple literary tools at hand, including a thesaurus, dictionary, and pads of paper. If you are planning to set up a website for your company, having a desktop or laptop computer with an internet connection to check for availability of the URL also helps.
Once you have a name you like, you should think it over for a day or two before you finalize your decision. Getting an idea for a new company name can be exciting at first, and often it clouds our judgment. Make sure that the name you have chosen follows the standards you have set up, and that it is agreed upon by all the people involved in the business. And once you have settled on the name, it should be tested through surveys, forum postings or phone calls to prospective customers to see how it would work out.
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