- 1). Think about what your company represents and what its characteristics are. People often associate a company name with what the company does. For example, Wikipedia is an online encyclopedia that matches its name to its function.
Linking your company name and your business in this way helps customers remember your company more readily. For example, if you need to find an electrical contractor, you are more likely to think of one called “Electric” than one called “House Doctor.” - 2). Know what makes a good company name. Good business names are unique (they stand out from the crowd) and easy to say (they roll off the tongue). Other successful company names use fun and interesting words, for example Google and Yahoo.
- 3). Research other company names to get an idea of what works and what doesn’t. Pay close attention to the length of the name and the types of word that are used. Notice whether the name is one, two or three words and whether it uses verbs, adjectives or nouns. Draw inspiration from ones whose sound you like.
- 4). Bring together a creative team to brainstorm ideas for your company’s name. This could be employees or friends and family. Ask the group to come up with as many names as possible.
Promote open conversation and confidence by rewarding people for coming up with good ideas. Don’t criticize names that are weaker than the others. - 5). Make a shortlist of up to 10 names that your team has come up with. You will ultimately have the final pick, but consider input from the creative group as well. Pick names that are not too similar--ones that have varied lengths, word types and styles. This will give you more choice in selecting a name.
For example, if you are finding a name for an auction company, don’t select “Auction House,” “Auction Home” and “Auction Abode.” All three names mean the same thing and give little choice in the final selection. Instead, choose the strongest of the three and move on to another name. - 6). Decide on a company name. Consider in particular the longevity of the name (will it be relevant in 10 years?), the length of the name and how memorable it is.
If you cannot decide on a final name or the final shortlist is not good enough, return to the beginning of the process and start again. Eventually you will think of a name that fits your company perfectly.
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