It’s an odd reality that people often name their companies on a whim, because of an inside joke, or simply because they have a certain word that appeals to them and will make it work.
The truth is that your company/product/service’s name is one of the most important decisions you’ll make. Just as you didn’t rush into a functioning business model, production schedule, or marketing plan, you shouldn’t rush into something as important as what your customers will refer to you as for as long as you’re in business.
Here are some quick tips to consider before committing to a name:
1. Without a doubt, you will have better luck introducing a new word into someone’s vocabulary than introducing a new spelling for a word they’re already familiar with. This phenomena can be seen in the struggle with homonyms such as “here” and “hear” and “they’re,” “there,” and “their.” It’s probably safe to assume they were introduced to one of the spellings first and struggle to remember other versions introduced later in their lives.
2. Pronunciation and spelling are not the same things. Pronunciation should be the least of your concerns as everyone will pronounce a name differently (think “Jaguar”), but a spelling problem is a huge issue in a text-based world. If someone can’t type your name into a search engine, you might as well not exist.
3. All the good names are definitely NOT taken. The English language alone includes almost three quarters of a million words. The world speaks as many as 20,000 languages, not counting endangered or extinct ones. I promise you, there are still good names out there.
4. Think your name doesn’t really matter since your product speaks for itself? Ask yourself why companies such as Apple, Google, Blackberry, and Yahoo aren’t called “Sturdy Computer Company,” “The Lookup Place,” “Dyrex,” and “Surch Enjiin.”
5. Don’t discredit simplicity. Just because a potential name doesn’t sound flowery and complex, doesn’t mean it can’t be incredibly awesome. Some of the best names are also the simplest. Ex. Etsy, Yelp.
6. Be willing to “go there.” Sure, your competitors all have similar sounding names, that doesn’t mean you have to as well. In fact, imagine the possibilities of going somewhere with your name that others are terrified of going? Yeah, “out there” is a scary place, but it sure can have its benefits. A great example is Happy Hammer, a local construction company in Arizona. In a sea of southwest/generic sounding names, Happy Hammer certainly stands out.
7. Don’t get caught up in domains. If your name research simply involves looking up available domains, you should just stop while you’re ahead. A good name is a good name is a good name. The domain is in another realm all together. Domains vary wildly, and people are used to such a thing. If you’re smart, you’ll find a killer name, get a domain, and work on your SEO to ensure that when people search for you, they’ll find you.
Check out our previous post for even more tips on company naming.
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