Business tips Aug, 12 2017

Points to Keep in Mind, While Naming Business

Naming the company is as important as selecting the product to work upon. It too demands a lot of hard work, research and brainstorming.

By Nibedita Mohanta
Feature Writer
Points to Keep in Mind, While Naming Business

As Rich Riordan wrote, ‘Names have power’.

Names really hold the power to make or break your product. Name of the business or the brand is like the face of the brand.

The brands such as Apple or Zara, which have successfully established their values and presence across the world, were merely names, when the companies were unfolding their idea.

Naming the company is as important as selecting the product to work upon. It too demands a lot of hard work, research and brainstorming.

To help the desiring businessmen and flourishing startup owners, here are a few important things to keep in mind while naming a business:

What’s on your mind:

First of all just be clear about the product, you are going to work on or open your business around, and then write it down on a paper a rough name or how it should be framed.

As it is your idea or business, obviously you will be emotionally involved with it and you would have probably decided to name it. So it is advisable to jot down everything or every name, that strikes your mind related to the brand or product.

Brain storming:

The first step for deciding any business idea or product or naming, it is important to take help from other experienced friends or family or team (if you have build any) and discuss about the probable names. One can take creative liberty to add on the name and make it sound unique or out of the box.

Also let them know what you have decided earlier or the usage of words or names, you had thought on, so that it will be easy for them to narrow it down.

Make a list of names and then pick the favourite few, which majority approves or the ones appease you.

Research:

Now comes the research part, ask your team or friends to help you in the research process.

The research process involves the checking of the favourite few names to not clash with any other company or brand.

Research will also help you in finding a better substitute or enhancing the names. The name should be unique but not unpronounceable or too casual that it might lose its meaning. The name should be one, which the Google can pick easily and this is where Search Engine Optimization team comes into play.

There are websites, which suggest or help in constructing names for. A thorough internet search will help you in finding the x-factor in your company’s name.

Avoid complications:

A name is going to be the face of your company, your investors, customers and partners, are going to know you by your company’s name.

Thus it is advised to avoid dyslexic spellings, and no initials. The name should be one, which the Google can pick easily, easy to remember and easy to pronounce.

Moreover if your company’s name by chance is same as of another company then there are chances, that the name is likely to attract legal clashes or bad reviews, in which the other company is involved.

Once naming is done, half the job is done. Rest everything is up to the quality of service you provide or quality of product you sell. So go ahead and make your footprints in the market world.

Related: What mistakes in franchising can lead to brand failure?

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