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How to Come Up With a Business Name

Updated on February 7, 2015
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Becoming an business owner is a very exciting venture for any aspiring entrepreneur looking to be their own boss. Not only are they in charge of the creating their kingdom, but also the rules that must be followed! If you have the vision, the means, the drive, and the necessary skills, why shouldn’t you start your very own business?

Starting up a business is never an easy thing to do, in fact, it takes a lot of time, careful planning, money, and patience in order to get a good start! From drafting up a strategic and thorough business plan to cutting that ribbon at the grand opening, there’s a whole lot of work that goes into the process!

How to Come Up With a Business Name

If you are going to be a successful business, then you must sound like a successful business! What exactly does this mean? You must know how to come up with a business name--and a good one at that! Sometimes a name can make or break a first impression of a business. A name can purposely put forth the kind of impression you are trying to make and also target specific crowds for business. In other words, depending on the kind of business you will be running, you can really cleverly use the name to your business’ advantage!

If you need to know how to come up with a business name, here are some important tips:

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  • Check Local or Online Competition: It is important to know just who you are up against including the names and the reputations of any nearby competitors. For one, you want a name that completely stands out from competition, and for two, a name that sets you above the competitors. If you have an online-based business, it is equally important to know your competitors and how you can distinguish yourself from them by simply having the right name.

  • Brandable: Having a name that is brandable is so important if you plan on being in the chosen industry for the long haul. You want people to simply see your logo and be able to know who you are without hearing your business name spoken. This can happen over time, but happen so much easier if you put a lot of thought into this aspect of business planning. So, while you are brainstorming names, hit the drawing board and come up with a few rough sketches for logo ideas.

  • Slogan: Does the name spark a few ideas for some catchy phrases for your business? It should! Having a good name along with a good slogan to dress it up is a recipe for success!

  • Social Networking: Even if you do not plan on participating in e-commerce, it is important to still utilize the internet as a means for marketing your company. Social networking, often free and user-friendly, is a great way to get your name out there. If you have a few names in mind, be sure to search those names on social networking websites to see if there’s businesses elsewhere taking those names.

  • Web Domain Availability: This is a big one. Having a website is one of the very best tools any business owner can utilize to put their name out there. Many people prefer online contact as opposed to phone contact, so having a website along with a contact form can help to attract more customers. Be sure to check up on the availability of domain names to ensure an easy-to-remember web address! Not just for you, but for potential customers who see your advertising on the go as well!

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  • Use Your Name: Many small business owners use their names in their business name. There’s nothing wrong with showing some pride in what you’ve created! After all, everyone should know the proud owner’s name!

  • Location: Having a good business location is key to good exposure and having a lot of traffic come through your doors. Using the location in your business name will not only give people a general idea where you are located, but it will also help to establish you as a landmark business down the road once you become successful! For example, a bakery can simply be named “Icing on 42nd Street,” or whatever that street name is. You may end up moving your business sometime down the line, but this element in your name will ultimately become a part of your business’ history on your journey to success.

  • Puns: You can find a good play on words in most any industry you are operating in, and the good thing about using a pun is that it is memorable!

  • Rhymes: Another way to make your name memorable is to include a rhyme in your business name!

  • Flow: The name of your business should just flow off the tongue easily. If it doesn’t have a nice ring to it, then it’s just not the one!

Giving your business a name is a process that should not be rushed through. It is important and will ultimately become a part of your image--a part of you!

Choose the Best Business Name

Which aspect of choosing a business name do you think is most important?

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    • heidithorne profile image

      Heidi Thorne 3 years ago from Chicago Area

      Excellent advice on business naming! Certainly something that many business owners struggle with. Voted up, useful, interesting and sharing!

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