HOW TO NAME A BUSINESS

Have you ever heard the saying “you’re so far in the forest that you can’t see the trees”? Well, sometimes that happens to people who are naming their business. Some company names are completely made up words that are practically unpronounceable. Even worse, some are a actual words but are spelled differently, confusing their target market. Example- “Wellthy” instead of “Wealthy”. *cringe* Whatever it might be, their business name doesn’t work and they find themselves struggling from the very beginning. 

Over the last 23 years in the marketing industry, we have developed strategic, foolproof steps to perfectly name your business. These proven steps (and bonus tips!) will gear your company name towards your ideal target market and towards your success! 

Try our method and let us know how it goes. We absolutely LOVE feedback when people use our formula. CHEERS AND GOOD LUCK!

CREATE A “GOLDEN LIST”

Try this… Start your business naming journey with a brainstorming session where you “word dump”. Literally write a list of every word that you can think of that relates to your business, industry, mission, brand, etc. After you’re done, go through it and highlight any words that stand out to you as important or special. This is your Golden List and believe it or not, sometimes a combination of those words is the answer.

THESAURUS HUNTING

Next, if “step one” doesn’t work, get out your thesaurus! Okay, we get it, go to www.Thesaurus.com and set up camp. Take your Golden List and start searching. What other words stand out to you? Add them to your Golden List and see if something sparks. Keep clicking away on www.Thesaurus.com, too. One time, after many clicks, the word “sophisticated” brought us to the amazing word “opulence”. Pure magic.

About 90% of the time, our clients are able to pick a name after doing this. On rare occasions, however, we have clients who are unable to make a choice. Luckily, they have at least narrowed down their options. This is when we suggest the next step…

RESEARCH YOUR COMPETITORS

Think you’ve picked the perfect business name? Well, you might want to think again because someone else might have already thought of it too. At this point in the game, we urge you to go research your competition. Are any of your business name options closely related to companies that are already established? Do you see a trend among the business names in your industry? Here is a great way to stand out.  If any of the options on your Golden List don’t match anything you are finding, that might just be your best solution.

REVERSE METHOD

What is the reverse method? Simply put, it means to work backwards. An easy way to do this is to write out the keywords you want to be found on Google for. Take these keywords and cross reference them with your Golden List. Maybe you’ll find that perfect combination of unique and practical. On the plus side, you’ll have SEO working for you from the start.

BONUS TIPS

#1

You should check your states’ registered company name database. Make sure that your desired company name has not already been registered. In some states you may have the same company name but in a different county. We advise against this so you don’t cause confusion right from the get-go. Make sure your company name is unique!

#2

Make sure you are checking to see if the company website domain is available. This is important for many reasons. But before you do, check out our mini ebook “3 Ways to Choose the Perfect Website Domain”. Our mini ebook offers the best tips for picking the right domain name for your business. 

#3

Check out all those social media handles too. Consider which of the social media platforms will work best for your company and start digging. If each account is available with your exact company name, jump on it.

PRO TIP: you can always adjust your company handle at a later date so don’t be afraid to lock it in!

IN CLOSING…

Don’t forget…

Your business name is ultimately not for you, it is for your target market. If you keep them in mind, you’ll always pick a winning business name!