How to find the best name for your business?
The name of a company is undoubtedly one of the most important aspects to determine when it is created.
It will follow the brand throughout his life and will have an impact on how it is perceived by consumers.
We must therefore spend a lot of time researching the right name and not hurry to find the one that is best suited to its brand.
Here are the steps to find the perfect business name!
Some notions before starting your search for a company name
When thinking about your company, keep in mind the following criteria that will guide your search toward an effective and relevant choice.
First, it is important to remember that the name must be simple, short and easy to remember in order to be memorable for consumers. It must also be distinctive and unique.
It should also be sustainable over time, regardless of the time. In this perspective, do not follow the trends to choose the name of your company, at the risk that it will quickly become obsolete.
And think even further. Do you plan to move to other countries? If this is the case, you need a name that is either English-speaking or easily pronounceable in English.
Also consider the culture of the country and the meaning of certain words that may be different in other languages. Take the example of the dog, which represents a positive symbol in some cultures, but negative in others. It is therefore risky to have a company name with a canine connotation in certain countries.
Also, always check the phonetics of the name. So, does the word speak well?
Finally, think about the domain name of the website that you might want to have eventually. Can the company name be easily used as a domain name and is it available?
Steps to find a business name
Steps to find a business name
Use the brand's DNA
Take back the elements that constitute the foundations of your brand, including: service offer, values, mission and vision. How do you want your brand to be perceived by consumers?
Review your unique selling proposition (USP), your target audience, your positioning and your persona (if applicable) to stay in the mood.
This can help you stay in a setting that fits the identity and business environment of your brand.
Feel free to highlight brand names that are already in use, but inspire you, and explore those of your competitors.
Use the resources at your disposal, such as a thesaurus and the Internet.
Write down all the words, terms, and adjectives that relate to your services, characteristics, values, and needs that you are trying to satisfy.
This step will allow you to use your creativity and go to options that you may not have thought of at first.
We suggest that you take this step as a mind map, which consists of representing and grouping your ideas and information in the form of a map. It usually consists of a main subject, then secondary terms that are linked to it by the hierarchy or association.
Finally, by highlighting the words on your mind map that have the most potential, you will probably end up with a dozen tracks. Rework each of them.
Opt for a specific angle
There are several types of company names. You can now select the angle you wish to take. Select it according to your service offer, your vision, your values and of course, your tastes.
- You can simply use the name of the founder of the brand. Michael Kors for example.
- It is possible to create an expression with the market, the place, the service, etc. A smart word game like The restaurant Les Cons Servent specializes in recipes based on preserves, is easy to remember for customers.
- Create an acronym with words describing your service offering. For example, IBM comes from International Business Machines.
- Use a feature or attribute that best represents your brand to make the name. What’s better than Dollarama to explain that everything is $ 1?
- Create a name by presenting exactly the service you offer, for example: DMV Veterinary Center.
- You can also invent a word or phrase that evokes a feature of the service or translate your offer into another language.
Once the angle is determined, it will be easier to work in the same direction and eliminate all the names that are irrelevant and do not follow the chosen angle.
Test the selected company name
The last step before making the final choice is to test the names you have in mind.
First, make a small survey of those around you. Try to get their opinion on the one they prefer. Ask them about the sounds of the names and what they mean to them. Ask them for constructive criticism. And use your social media! In addition to having an opinion of your target customers, you will also create an engaging conversation.
If possible, also test the name with people who do not know your project. You could have very different answers!
In the same vein, you can also include forums or groups of online entrepreneurs to ask for their opinion. They are often happy to participate and give their opinion.
And then ?
Once the name is in mind, check its availability with the Canadian Intellectual Property Office. If it is a business name with a head office in Quebec, also check with the Registraire des entreprises. You will avoid any legal proceedings. It would be a shame to choose a company name already belonging to another brand.
Once your name is found, you still have the option to apply for a trademark registration to ensure that you protect it. You will find all related information on the government website.
If you wish to offer your products or services in the United States or elsewhere, be sure to inform yourself about the legal rules and procedures of each country.
In short, because your business name reflects your brand and product, you must choose it meticulously.