There are few key rules which you should keep in mind when naming your business.
First of all your name should be sticky, it should ring a bell with your customer so he/she can associate you with it and remember you.
Secondly, you should avoid unusual spelling. When choosing a name you should choose something which your customers can spell easily and which you do not need to spell out letter by letter. Do not annoy your customers.
Thirdly, you should keep your name simple, the good length of your name should not be more than 5-6 syllabus. It is better if the same letters are used (Coca – Cola) and the name rhymes. Make sure that your customers can pronounce your name easily.
Forthly, although generic names like Google, Uber, Yahoo are good, it is better if a name reminds your customers of the product/service you are offering. Do not limit yourself to one product, rather choose the category in case you want in the future to extend your offer.
It is also a good idea if you choose a name for which you could register a trademark. It will increase the value of your business and it will be harder to take it away from you.
Fith, please google the name before you make a final decision. What comes up? What are the pictures and videos which come up? I once made a major mistake by naming my business and not checking it out. I called my social crowdfunding platform in Russia – Rusini which stands for Russian Initiatives. It sounded great, however i did not know that there is an ethnic group which is called the same. I only found out about it when I started to get random Facebook page likes and messages from people belonging to this group.
Sixth, make sure the name is available. Check the domain names at the website like GoDaddy or any other. Everyone will assume that your suffix is the country suffix like “.com” or “.fr”, so it is better to get them if they are not available try getting other common suffixes like “.net” “.info” or “.org” if it is a non profit organization.
Seventh, test your name with your potential customers, partners. Try coming up with few names and see which one gets the best reaction and the positive reaction.
Lastly, it is important to choose the right name so take your time and do not be afraid to change it if somehow it doesn’t work out.
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