Through the years, I have found that naming a business or a product is sometimes one of the most frustrating endeavours after you have hatched a new idea that you just know is going to work (for that’s the spirit of an entrepreneur.) The big question usually is how you know for certain that you’re picking the right name for your business (or product) that will resonate with the intended audience and customers. The thing is, you never really do.
Look at it this way. When naming a business the ideal name would, of course, be to pick a name that encapsulates the essence of your idea. But remember, it’s not always what the name conveys, sometimes it just needs to be catchy enough for people to remember it.
Let’s take a look at a few examples. Nike, one of the world’s largest sportswear manufacturer, picked a name not synonymous with the products themselves but what they can do. “Nike” means “Victory” in ancient Greek and it’s a fitting name when you look at what the products help you accomplish. The same goes for Adidas, a name that has no particular meaning at all except that it’s a mashup of Adi Dassler (Adolf Dassler), the founder of the company. – Fun fact, Adi Dassler’s brother, Rudolf Dassler, later went on to found Puma.
So, how do you go about naming your business and later feel comfortable with the name you picked? Well, play around a bit with words, understand your product and try to research what your audience and customers resonate with. In today’s social media-heavy world, it’s actually quite easy to get a bird’s eye view of the group of people you want to reach out to.
I would also recommend having a look at the infographic found below, created by webs, called “What’s In A Name: The Art Of Naming A Business“. It’s jam-packed with ways to help you find the right name for your business or product.
When naming a business, also remember that sometimes the name will grow into the product or company itself. What I mean is, you will find that the more you say, use and write the name of your business or product, the more perfect it will feel. This has happened to me on several occasions and I am sure it’s going to be the same for you as well. My personal saying has always been, “A name is only as good as the quality it offers”.
Naming A Business – Guide [Infographic]
Click Infographic To Enlarge