A new store opened in town, it’s called “Makin’ Babies“, I am totally serious. No, it’s not a fertility clinic. It’s not a lingerie store. It’s a doll store. Yes, the owners didn’t think through this one very well, I’m afraid. Really, if you were going to Google “Makin Babies Utah” online, I doubt you’d ever find their store. Not to mention the hesitation of every potential employee to answer the phone or a mom looking for a gift…would the product be packaged with the company name?
The first thing you should do is at least run the name by an honest friend, right? I’d love to volunteer. I’m honest.
Here’s 10 steps for choosing a great company name (the following exercise is to be done by the company owners independently):
1. Write down every name that comes to your mind for at least 10 minutes, don’t limit yourself or judge any option, write until exhaustion so all of your ideas are down, take a break and then move on to #2. Don’t show this list to anyone yet.
2. Ignore the first list and with a new sheet of paper, write down every keyword (or phrase) that your company will focus on (for example, “publishing books”)
3. Move on to a new list of the demographics of your ideal client, write down everything you know about them
4. Look up everything on Google (if you haven’t already) about your competition and write down the key players names, also note their logo colors (for future reference)
5. Look back through your original list of names and see if anything stands out, if yes, compare it with list #2 and #3 and see if the name compliments your keywords and your clients’ interests/demographics, if you can narrow down the selection to 3-5 names
6. Ask yourself: when I introduce myself and say “I’m with…..” how do you feel? When you answer the phone, etc. is it easy to say/pronounce? Can it be spelled easily? Is it standard spelling? Does the name represent the mission of the company and future? Does it allow for growth/expansion or is it named after a single product? (not recommended!) Is it unique and different from the competition?
7. Think about branding potential…can your name describe your company longterm? Can it become a culture? Can you give yourself a fun title that strengthens/supports your brand? For example, Wendy Piersall signs her emails eMom
8. Check if the URL is available, and if so, buy it right away (. com, . net, forwards and backwards), unfortunately, there’s companies who buy available domain names if they are searched and not purchased right away.
9. Before committing to the name, also do an initial national trademark search
10. Sit on the name for a couple days and see how you feel about it, then take it to a few well-trusted, business savvy friends whose taste and style you admire and see what they think. Don’t tell them what you like or what you want, just say, I’m thinking about these 3 names, what’s your pick? Why? and LISTEN. Don’t say a word. Zip your lips. Then ask a few other people and then meet with your co-owner/partners and compare names and decide on something together that works! In the end, it’s all about how you feel about it. You’ll know when it’s right. Whenever I’ve gone down this path, I’ve felt confidence once the right name was chosen. That’s a great sign!
Today’s Magic Wand: A great resource for learning more about names/branding is the site, A Hundred Monkeys they are a professional firm that corporations pay to come up with product names and new companies…they’ve got some of the best magic wands for this industry!!
Kelly King Anderson (c) 2007
Your turn: How did you come up with your company name? What tips do you have to share??
I think that is very simple! for me, to make the great name of company is how the owner running a business, and brand introduction
A blog that I’ve come across recently and have greatly enjoyed in this area is ‘The Name Inspector’ – http://www.thenameinspector.com/ . In each post he takes a fairly well known company name and dissects it along aesthetic lines.
Might be a good additional resource for anyone looking to come up with a solid, creative, new name.
that is great! I love how coming up with your name this way, also helps you to get to know yourself better…and your industry. Great ideas!
Hello Rony, you’re right…the name SHOULD be the simple part. Branding and reputation is much more challenging!
Hi Matt, great to see you here…thanks for rescuing me the other day with our tech issues. I love finding new blogs, particularly about this topic, I’m brand girl a heart–thanks for the recommendation
Hi SUP Sarah, even if you HAVE your name…I still recommend doing the keyword, competitive, and demographic research, you’ll need it anyhow for your Business Plan. Speaking of which, I should be working on OURS.
This is such a funny topic for me. I did not invent or come up with the term “wet bag”- people were sewing them long before I was in business. However, after I started making them, I was at church talking to a new couple and this is the conversation that followed:
Male: So, what do you do? Do you work full time, stay at home?
Me: Yes, I stay at home with my son, and I sew as a side business
Male: Oh, that’s cool. What do you sew?
Me: Baby items
Me, thinking to myself that I have to get better at pitching my products in person.
Male: What kind of baby products?
Me: Well, my most popular item right now is a wetbag, and another
Male, Interrupting: A wetbag?
Me: Yes, a wetbag
Male, smirking: Do you know what that is?
Me: Yes, it is a waterproof bag
Male: You might want to look that one up
Befuddled, I googled it. Talk about a term inappropriate to promote on a baby site! Since I did not come up with that name for the product, I just had to reinvent and brand it myself as the “Wet Happened?” wet bag:-)
As the owner of 2 Virtues Inc., maker of Swaddleaze & Blankeaze (safe sleepwear for infants & toddlers), I can say from experience that you should DEFINITELY choose a name that makes what you DO or what you SELL abundantly clear. I can’t tell you the number of times people said to me, “2 Virtues? What do you sell, religious items?” I’d then have to go through the whole shtick about how I named my company after my daughters, Hope & Grace and that I sold wearable blankets for kids. UGH!
Choose wisely!
Heather Allard
I don’t know If I said it already but …Excellent site, keep up the good work. I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks,
A definite great read..
-Bill-Bartmann