Names are very important, some people believe that you are defined by your name. There are plently of books which explain the meaning of each name and a lot of parents use these books before naming their children ( I know we did). With a business it is very common to use your own name or something to do with Gibraltar. That can be good but can also mean you get lost in a large array of businesses with similar names. Here are some tips to help you select your business name.
1. Keep it simple.If you company name is too hard to spell, or difficult to pronounce or remember you are making things difficult for yourself. At the beginning it is best to have a simple name that people can remember.
2. Describe what you do.Your name or at least part of it should describe what you do, an easy test is to tell someone the name and ask them if they know what the company does. As in all marketing keeping things simple and clear is the best way.
3. Choose the right tone.Is your company very corporate and serious? Or youthful and fun? The name should help to set the tone of the work that you do, this helps the right people to identify with the company.
4. Don’t limit yourself too much. Although describing what you do in your name is good, it can also limit what you offer in the future, try and choose something that is descriptive but quite open for future business expansion.
5. Sleep on it. Once you have decided a name, sleep on it and look at it freshly the next day. This is a great test for any creative ideas. Having a good rest will help you to look at it from a more neutral point of view.
6. Add something memorable. If your business tone allows you to, you should try to add something a little different. In our case we chose Piranha Designs. Piranha is not something common and is quite unusual, people remember it. The Designs part describes what we do without limiting us to one particular area of design.
7. Be careful about using your own name. It can be very good to use your own name for the business but you need to try and think long term. Maybe you want to sell the business in the future, or things don’t go so well and your name is always associated with the company. It is best to be very sure before connecting yourself in such a powerful way.
There are always exceptions to these rules, that still work incredibly well. Google, Yahoo etc are perfect examples of this. These are just some thoughts and suggestions for smaller businesses, that have proven to be useful. If you have any other ideas or things to add to this list, please let me know, or add a comment below.