New Company Name Ideas

Today’s post is about how and why picking a new company name that fits is essential — some considerations to help you stand out in the marketplace — how to test new company name ideas before going live.

person working on laptopIn today’s marketplace choosing a name for the business can be intimidating. But to get the new-found business off the ground, you must name the company. What you are going to call the company is the first step of the building brand process.

You want to think about the name you choose for the long term. So, find yourself a quiet place and begin brainstorming about the names you think that would best describe the company.

See if you can come up with three or four that you would feel comfortable using. The reason I suggested three or four is that someones you have settled on might not be available. And you would have to come up with another that you are happy with using.

Selecting the name you are calling the business is the beginning of the story. Here is the first opportunity to start showing people how and why the brand is different from all the competition.

Deciding on a company brand or product name think about what explains the product the best. Do you want a name that describes what the product or service does? This choice might be useful if you don’t want or have to continue the story.

But if you chose a name that you can continue the story and connect with other potential customers will work out better for the long term. Don’t you agree?

Which Name Works for Me?

market islePicking a name that is a good fit depends on where the product or brand falls.

The three most common are literal, metaphoric, and fanciful.

Names for the brand, product, and service will decide which category works best for you.

Literal Brand Name

A literal name is what it means. Example, of a literal title, would be Boston Donuts. Boston Donuts describes the business’s purpose. What the product is and the service the baker provides.

Metaphoric Brand Name

The metaphoric brand name is a name that lets people think beyond the literal meaning. It allows people to think about the brand or service but enables them to think outside the box when they think about the brand.

Fanciful Brand Names

Fanciful names are names that do not have anything to do with a brand, products. They are names that are made up, a name that you can build the identity story from scratch. Here you can let the creative juices flow when you finally decide on a name for the company.

Considering A Metaphoric or Fanciful Brand Name

Fanciful and metaphoric names work great for a new brand wanting to establish themselves in the marketplace. It does take patients to build and break into the market, also, by providing useful problem-solving content for the visitors.

Literal brand names are names already established with consumers. They’ve exposed themselves to the brand, products or services and are quite familiar.

Are you still having trouble coming up with a brand name? Consider hiring a branding agency. A branding agency can help you when all the names you have thought about using aren’t working out.

The agency will take all the elements of competing businesses in the field. And offer you several options to choose a business name. Here is where you and the team can decide on the brand name that best fits the idea of the business.

Get Your Name

brand name on a vanI’m confident that you have thought of a couple of names you’d like to try. Also, they probably sound great! There are a few things you still need to do to define the name focus.

Take the name you decided on and start doing the research. Go to the internet and start plugging in the name(s) you are considering. Learn from the internet how the name compares to the competitors. Is it too similar to other brands or does it help you stand out from the crowds?

You are discovering good and bad similarities between the name and competitors names. Are the similarities going to help you separate yourself from them? Will a literal title work better or will a metaphoric or fanciful name describe the business better.

Choosing the perfect name for the business is going to take some work on the part. You must get to know the market. How will people find the company online? How do they search for the answers to their problems? Do they type into the browser a question? Body shops near me? Or do they type, for instance, light bulbs?

You don’t want to limit yourself or the business in the marketplace they’re involved. Keep an open mind for any options that a visitor might trigger a visit from a person. Place yourself in the consumer’s shoes on how you might go about finding the answers you look for online — and applying those same queries to the business.

Practical Brand Name Selection

The exciting part about selecting a name for the business is that there isn’t a right or a wrong way. There are a few practical ways you can begin to find out what names might work.

Talk to friends and co-workers to help you come up with a name that works. Choose these people carefully, by asking some who are familiar with the product or service and others that haven’t an idea of the company.

Recording the feedback from both, how the product is received, is the product living up to the story you are telling, and what emotional feelings they are giving back about the product.

With the information, you gathered, create a spreadsheet, give them a specified time 15-20 minutes to come up with names related to the conversations you had with them. Don’t concern yourself or them with quality but quantity.

After you have enough names, you can start to narrow down the best names. Asking the same people you brainstormed with to give you the ones they liked the best and eliminating the other ones, leaving you with the best titles for the business.

Start to Disqualify Potential Names

eraser on a pencilBy getting feedback from the market target audience will enlighten you for which name to choose. Find out how they feel about the name or names you’ve narrowed down.

Take those names that aren’t eliminated and begin searching on Google. The search should be about name trademark, to see if it is already registered.

Or if the name you chose has different meanings or connotations that might have negative implications for the brand or product. This sensitivity could result from another language or culture.

As I mentioned before, there isn’t a perfect way to deciding on the company’s name. By doing the preliminary research before choosing the title is going to help eliminate problems. The real test is going to be the test of time, watching and observing how the visitors react and how you respond to them.

By going through the process of gathering the research, getting target audience feedback will give you the best opportunity for choosing a brand or product name that works.

Conclusion

You are on the way to choosing a brand name for the business. Remember a name represents what you are offering, and should stimulate emotions from the audience.

You have three choices when choosing a name: literal, metaphoric, and fanciful. Depending on the type of product or service you are offering will determine which type to use.

To get the best results for choosing a name, you have to do extensive research by the process of elimination to determine which is right for the business.

By thinking of Literal brand names will help you get a competitive edge over comparable products. The literal title communicates the brand or product to the consumer immediately.

And in most cases, the target audience is familiar with the product or service, which will save you time on marketing because the audience already understands the features and benefits.

Deciding to start a new business without any help can be a daunting task. And if you still have questions and are wondering how to start and run a profitable online business. Please don’t hesitate to ask or go to my review post for more information.

Leave your questions or comments below, if you would like to contact me here is the link;

contactme@besthomebasedbusinesstostart.com

Kevin

23 comments on “New Company Name Ideas

  1. Thank you for sharing. I think one of the most challenging things about starting a business is developing a compelling name. It seems to be the key to genuinely marketing a successful business. Thank you for breaking down the thought process one should consider when naming a company. I have found that research and talking with others in the industry can be very beneficial to see a useful name.

    • Hello, Lee, I’m happy you found value from the post. I appreciate your comment and your insight. If I can help in the future, please contact me. 

      Kevin 

  2. I just started an online business which deals on affiliate marketing for some of the most reputable online income programs, and my chosen brand name for my website is my name. Some guys out there asked me questions like “What if you decided to sell your business, your website, to a new owner? You can’t sell your website because it’s brand name is your name.” That started putting doubts on my business and is holding me from further building the website’s content. I want to ask, did I commit a mistake using my real name as my brand name for my newly started site?

    • Hello, Gomer, To be honest, I would need a little more information before being able to answer your question. I have checked into this a little but not to the point of selling a website branded with your name. I can see though how it might hinder the selling process because of the dedicated name. I’m going to look into this further, and I will get back to you as soon as possible. 

      Cheers,

      Kevin

  3. Coming up with a name for new business could sometimes be challenging.

    Thanks for laying out clear, practical steps which would help make this process, less stressful.

    I remember, when coming up with a name for my blog, I had to disqualify several names which I thought were awesome just because, they were taken.

    So the steps in which you make sure your chosen name is not yet taken is crucial, so you don’t move on to creating a logo, pages, etc. and realize you have to let go of the name because it is already taken

    • Hello, Etah, It is important to list at least three to four names you would like for your business. By following this technic you will eliminate the frustration  of being disappointed when you find the name taken. I hope you are successful in finding a name  for your new business. Any other questions contact me I will be glad to help. 

      Cheers,

      Kevin 

  4. I have to try to look for a possible name for my business, and I have failed miserably, and I was lucky to come across this blog on company ideas, and I thank God I did for you have provided me with the knowledge of looking for names that will work for me and my business.

    • Hello, Charles, I’m glad you found the answers to your questions from my post. You are right about the company names. It can become frustrating to find the proper business name.

      Cheers,

      Kevin

  5. Coming up with a business name is not an obvious task given that it has to be unique, flexible and has never been used before. From your excellent post, I have realized that to name my business I should have used a Literal brand as opposed to a metaphorical one since it is easier to get Literal brand names that not only stands out but also saves time on marketing.

    Having gone through the trouble of getting a suitable brand name, would suggest a trademark it immediately? I would want find it shared by someone else.

    • Hello, Edgar, I would recommend copyright your site to protect it. I hope this helps you with your question. WordPress makes it easy to copyright your site. Just go to WordPress and type in copyright. 

      Cheers,

      Kevin

  6. Picking out the right name for your Enterprise or business is essential because most clients get to meet other people who recommend your company. That said, clients will probably hear the name of the business before seeing its owner. One crucial point is that a business name must correspond to what the business is about.

  7. Company names is a fascinating study. Regardless whether the name is literal, metaphoric, or fanciful, the name must be easy to remember as well as easy to pronounce. I made that mistake years ago. I chose a name that people had a hard time pronouncing. And because it was hard to pronounce, it was not easy to remember. And changing company names is not easy either. I had to go to the state agencies to change legal forms, tax forms, etc.

    • Hello, Glen, I understand your pain, as I had to do the same thing. Important to as they say measure twice cut once. Best wishes to you.

      Cheers,

      Kevin

  8. There is a lot to think about when someone is starting a business, and I think the hardest part is choosing a name. I just went with my last name and online” after it. It worked for many years except I got divorced four years ago and changed my name back to my married name. So what to do? I just left it alone because I feel like it would be too confusing for all of my customers and I don’t want to lose anyone. But it was a lesson learned. I am glad you created this tips to help people come up with the best company names for their business.

    • Hello, Wendy, I appreciate you sharing your personal experiences for choosing a business name. I’m happy you were able to sort things out.

      Cheers,

      Kevin

  9. There are many dilemmas to solve when you think about a name for your business. When I had to come up with the name of my blog, I jumped from one thing to another many times. My blog was supposed to be about money – saving, making money, investing, etc. I wanted a cool name, but maybe a bit serious as it’s about money? I wanted a short name but looks like all short .coms were taken. However, the most stressful point for me was not to choose too narrow niche name. For example, SavingGuru, won’t fit the money-making part of the blog.
    What do you recommend in regards to narrowness? Broad name that fits all or a more specific one with the risk that some part of the business won’t match?

    • Hello, Mary, I think that one must take the time to investigate at least three choices for names. It is essential to think of how your audience is going to view you. Is the name easy to pronounce? Or is it easy to remember? Also, it depends on the niche’ you chosen. 

      Cheers,

      Kevin

  10. Hi Kevin,
    Excellent and informative article about new company name ideas. You are entirely right, the name of a company does mean a lot, it is a brand name which everyone will see first and hopefully remember.
    It isn`t easy to choose the right one. In my opinion the best is a metaphoric name, but for my website, I decided a literal name. Maybe it would be great to mix the literal and metaphoric title? I like your post, and it makes me think about my website name or better to say, my next website name. Thanks for sharing with us!

  11. Thanks for another exciting read. I recently had to come up with the name of a garage and for the first time realized how hard it is sometimes to pick a name for a business, especially when you know it gives people the first impression of a company. I even took to a name generator for help.

    But thanks for showing I wasn’t just overthinking it, and it is a task to properly think through and for the good advice and steps of how to come up with a name in a more educated way. Thanks

  12. Wow this is cool, about two weeks ago, I and my wife were deliberating on a brand name for a business which she gives me an insight of the name should represent what we are offering and should stimulate emotions from the audience and I read about this in the article which I totally agree in which it will communicate what we are into to the consumers.

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