So your business idea has transferred from paper napkin to whiteboard. It’s time to get serious and start the long search towards finding the perfect business name.
When it comes to business names one rule needs pointing out first – the SHORTER the BETTER. People’s lives are pretty complicated and busy so they like to keep things simple including syllable use.
Let’s look at some of the big brands getting syllable use right on the money.
Coca Cola, McDonalds, Microsoft, Apple and Porsche all use 4 syllables. Picking a name with 2 – 4 syllables is simply smart business.
Changing business names and branding is hard work (especially if you have already launched it!) and it’s expensive, so try to follow these easy rules before you pick your business name:
Unique, unforgettable and simple
If you want longevity then pick a unique name that can withstand the test of time. If you have a strong personal profile, by all means use your own name. Just remember franchising or selling a business in your name can be slightly harder.
Spell it correctly
It seems obvious but spell it correctly. It’s a competitive world so make things easy for your customers and leave unusual spelling to celebrity baby naming.
Your business name is something people will talk about so you need to check that it sounds magic and your target audience love it.
Keep it relevant
Your name should reflect your product offering. If you are selling lemons then it might not work to call your company oranges. It needs to make sense and make a promise.
Keep it simple
Human brains can only handle so much information at any one time. A good brand has a clear message and the brands doing it well are those that keep it so simple you wished you’d thought of it. Do the same!
A clue or promise
The most memorable brand names have a clue or promise about what the business does. It could be argued that Apple doesn’t really say computers and it doesn’t seem to matter because Apple was built from the ground up on a strong WHY.
If you are going to go left field like Apple then your product, branding or personal profile needs to be strong and the WHY so compelling that it needs no explaining to the tribe.
Search for your proposed business name and check the availability. You’ll need an ABN to register a .com.au but not for a.com.
Domain names with matching free social media handles are becoming difficult to find so do your research first and use all available tools – our pick for searching is Veromo. They have a free tool called Name Finder for business name availability searching ASIC, Google and social media handles and Veromo is an Australian company – winning!
Put the name out to say 10-20 people. If people understand and like it then use it. They don’t need to be your ideal customer nor operate in your industry, a cross-section of potential customers and non-potentials might work better because if non-industry people get it then industry people will totally get it!
Some people are business name collectors who register hundreds of domain names in the hope they strike it rich. To me this just seems like hard work without knowing the reward!
As soon as you have your business name sorted, you can follow it through with a company like Veromo who have documented the entire process of getting a business off the ground from end-to-end and have an established framework covering all the key tasks, forms and decision points. Perfect!
The article was first published on the Creative Currency Copywriting Services Blog