1. Understand Your Brand
Before choosing a business name, it’s crucial to understand your brand. What sets your business apart from others in the market? What values do you want to convey? These questions are essential to help you create a business name that aligns with your brand identity and resonates with your target audience.
For example, consider the story of Airbnb. The company’s founders, Brian Chesky, Joe Gebbia, and Nathan Blecharczyk, were inspired by their love for design and travel. They wanted to create a platform that allowed people to experience new places and cultures without breaking the bank. The name “Airbnb” was derived from “air mattress,” which reflected their affordable housing options.
2. Research Your Target Audience
Once you have a clear understanding of your brand, it’s time to research your target audience. Who are they? What are their needs and preferences? What kind of names resonate with them?
Conduct surveys, focus groups, and online research to understand your target audience’s preferences. You can also analyze your competitors’ names to see what works and what doesn’t.
For instance, Zappos is a great example of how understanding your target audience can help you create a business name that resonates with them. The company was founded by Nick Woodman in 1999 with the goal of making online shoe shopping easy and convenient for busy individuals. The name “Zappos” reflects this convenience, as it sounds like a zipper, which makes it quick to put on shoes.
3. Brainstorming
Now that you have a clear understanding of your brand and target audience, it’s time to start brainstorming potential business names. Start by jotting down keywords related to your brand, products/services, and target audience. Then, combine these words to create unique and memorable names.
One helpful technique is to use alliteration, which creates a strong association between the beginning sounds of words. For example, the name “Nike” was created by combining “nike,” meaning Greek goddess of victory, with “kick,” as in a football cleat.
Another helpful technique is to use acronyms, such as IBM or Apple. Acronyms can be memorable and easy to pronounce, making them ideal for business names.
4. Check Availability
After brainstorming potential names, it’s crucial to check their availability as domain names, social media handles, and business registration names. You don’t want to invest time and resources into a name that’s already taken by someone else.
There are various online tools available that can help you check the availability of domain names, social media handles, and business registration names. Some popular options include Namecheap, GoDaddy, and Domainr.
5. Choose a Domain Name
Once you’ve checked the availability of potential names, it’s time to choose a domain name that aligns with your brand values and resonates with your target audience. Your domain name should be easy to remember and spell, and ideally include keywords related to your products/services and target audience.
One example of a great domain name is “DollarShaveClub.” The name reflects the company’s affordable pricing and convenience, making it memorable and easy to pronounce.
6. Register Your Business Name
After choosing a domain name, it’s time to register your business name with the appropriate government agency in your jurisdiction. The process can vary depending on where you live, but typically involves filling out an online form and providing necessary documentation.
7. Protect Your Brand
Finally, it’s important to protect your brand by registering your trademark. A trademark is a legal recognition of your name, logo, or slogan that sets you apart from your competitors. Registering your trademark can help prevent others from using your name and confusing customers.
Summary
Creating a business name that sticks is crucial to the success of any new company. By understanding your brand values, researching your target audience, brainstorming potential names, checking availability, choosing a domain name, registering your business name, and protecting your brand with a trademark, you can create a business name that resonates with customers and sets you apart from competitors. Remember to be creative and think outside the box when creating your business name, as it can be the foundation of your brand identity and success.
