Namerific recognizes the difficulty a company faces when trying to choose a terrific name for your budding business. With so many possibilities available, often, it’s as though choosing a name for your company is an impossible mission. Fortunately for you, when it comes to fantastic company name ideas, we can help you in the brainstorming process.
Since your business name will get used more and live longer than any other investment you make in your company, it’s important to get it right the first time. Unfortunately, not many master this technique, so we decided to illustrate some examples of the biggest naming mistakes entrepreneurs make, in order for your company to avoid them at all costs.
Ensnared in Ambiguity
Your name should be comprehensive enough to support your company’s long-term fruition. But you’ll also want to support growth aspirations by naming your company in a way that helps you grow into the short term. Opt for unique company name ideas that mirror your business intent. Remember customers won’t talk about your company if there isn’t a clear way to describe what you do.
The key is to choose combinations of words that help your customers understand your firm’s purpose. This allows you to strike the right balance between a name that can grow with your company and one that is eloquent enough to capture the value of what you’re selling in the immediate term. Ask yourself: how do you want your target audience to feel and what do you want to help them achieve?
A name that clarifies the connection between your product and customer would be stepping in the right direction. If your name is too obscure or hard to spell and pronounce, you may never have the opportunity to reach out to that customer because they’ll simply consider you as irrelevant.
Being a Plain Jane and not Standing Out of the Crowd
Automatically, once you have competition, this requires differentiation. Picture if Yahoo! had come out as GeneralInternetDirectory.com? The name would be much more expressive but far from memorable. And with the blitz of new media and advertising channels, it’s more crucial than ever to carve out your position by displaying your uniqueness. Nothing does that better than a well-conceived name.
Avoid turning into a Cliché
Once the literal, descriptive word choices are scrapped, your thought process will most likely turn to metaphors. These can be great if they’re not excessively used to the point of being stale. For instance, since many companies think of themselves as the top in their industry, you’ll come across many names like Summit, Apex, Pinnacle, Peak and so on. While there’s nothing intrinsically wrong with these names, they’re trite. You’ll be much better off with combinations of positive words and metaphors. A good example is the data storage business ‘Iron Mountain’, a name that imparts strength and security without sounding ordinary.
Choosing a Name that’s too Niche
You don’t want to outgrow your business name. Imagine Amazon had been named Bookstore.com? They would have been limited to selling books. One name that outgrew itself is Burlington Coat Factory. When they were naming their store, they didn’t think far enough into the future. When they expanded their product line, they had to change their tagline to, “We’re more than just coats.” They also always have to have a legal disclaimer in their ads that says, “Not affiliated with Burlington Industries.”
Ignoring the needs of international markets
The beauty of the internet is, that it makes it possible for businesses to reach customers worldwide. As your brand evolves, you may want to reach audiences in markets outside of the ones with which you’re familiar, at some point. When these opportunities present themselves, the last thing you want is a business name that will curtail such an important stage.
The minute you know what markets you’ll be targeting, it’s good to check how people automatically pronounce your company name after seeing it in writing.
Choosing the wrong name and then refusing to change it
Several business owners know they have an issue with their name yet simply hope it will somehow magically resolve itself. The fact of the matter is such a problem shouldn’t be ignored. After some careful fine-tuning, you’d be surprised at the benefits your company may reap if tweaked mindfully. In the frenzy to start your new business or expand a current one, taking time to think through some of these issues is imperative.
Much like laying the cornerstone of a building, naming a business involves the same process. Once the name’s in place, the complete foundation and structure is aligned to that original stone. If the foundation isn’t sturdy, the rest of the building is off, and the misalignment will stick out like a sore thumb. By tapping into your creativity and avoiding these potential pitfalls, you’ll be able to create a name that works for both the short and long term. Like the original cornerstone of a building, it will support upward development as your company reaches new heights.
Thankfully, coming up with business name ideas doesn’t need to be a challenging feat, since Namerific has all the useful tips and tricks which help you pre-empt potential blunders. For more insightful pearls of wisdom, click here.