Knowing the key features of good business name ideas is the surest way to become better at generating brilliant company name ideas. We’ve all seen amazing brands that have stood the test of time and one thing we can never forget is their brand names.
Similarly, there are businesses that have failed woefully, that now serve as case studies on business failure in business schools across the country, and how are they identified? By their names.
Experience shows that getting your business name right is like laying a good foundation.
Having observed brands closely, I have come to identify 19 unique traits that make business names stand out from the pack, and that’s what I’ll be sharing in this post. At the end of it you should have a checklist with which to screen business or company name ideas you generate henceforth.
Perhaps you’re wondering
What’s in a Name?
Is it a big deal, why spend time generating business name ideas when you can just settle?
Indeed some company names are bigger than some big names you know. Cars.com, for instance reportedly sold for $872m.
Changing UTA to TDU (t-duh) could cost Utah taxpayers up to $50m.
The list goes on and long.
Perhaps now you’re wondering
So How Can I Generate Business Name Ideas?
Business Name Generators is one cool way to come up with company name ideas quickly.
- Facebook Groups
- WhatsApp Groups
- Friends and Family
- Business Partners
- Crowd Sourcing
- Hiring Copywriters
- Meditation, etc
I think I hear you asking.
Can I Make a Living Selling Domains then?
There are people who make a living flipping domains, so perhaps you can if you have the necessary skills and learn how to flip domain names.
That’s by the way.
Back to business name ideas and how to identify a good one.
19 Unmistakable Features of Good Business Name Ideas
A good business or company name idea is:
You can come up with brilliant business name ideas you thought were exclusively yours, only to discover they’ve been registered decades earlier.
If your company name ideas are all taken, take heart and get back to the drawing board.
After confirming availability, a good business name idea will agree or align with your core business ideologies like aims, goals, objectives, vision and mission.
It’s beautiful when your company name ideas and business ideologies align. This is key for brand consistency.
A good business name concept can always get better, hence is adjustable, adaptable and flexible. When manually brainstorming company name ideas I’ve come up with good ones.
Sometimes I push a little more and get even better results than I imagined.
From logos through letterhead, print outs, t-shirts, face caps, domain names, social handles, taglines, jingles etc; a good business name is highly brandable.
Brand name consistency and uniformity across channels is good for business.
There is often a story behind every great brand. It could be how the business idea came about, struggles, survival and success, etc.
One other story many brands share is the story behind their chosen name. A good business name idea is often explainable.
One benefit of being brandable and consistent is visibility which leads to recognition. A good business name idea has this intrinsic quality.
In a collection or catalogue of many brand names will yours stand out?
A good business name concept that is available, agreeable, brandable and recognizable will always be memorable.
Such business names are very easily recalled with little or no effort.
A good business name is relatable. It may be just one word, two or a short phrase, but it carries so much allure that you can’t help but identify with it.
Even children can easily relate with a well thought out business or brand name.
When a business name becomes relatable it is easily liked or loved as the case may be. Likeability is not just a Facebook thing, brands that are likeable have lots of fans.
If your brand is liked, it is easier to sell your products or services.
Come to think of it, people talk about the things they either love or hate with passion. If your brand is liked or loved it means you’ll get mileage from word of mouth.
They’ll talk about your business with peers and there’s no way they’d do that without mentioning your business name.
A great business name idea is not just spellable, it is easily spelled. If customers have difficulty spelling your company name you will lose them to competitors.
Similarly you’ll be lost or invisible in search.
Can your proposed business name be easily pronounced? When it is read out for the first time is it easy or difficult to read or pronounce?
Can non-native speakers of your language easily pronounce it? This is essential for word of mouth.
If your business name is in English for instance, can people for whom English is a second language accurately translate and understand it?
This is essential for businesses that conduct cross-border commerce plus those in countries with lots of immigrants.
A good business name idea is both sensible and sensitive, it does not offend the sensibilities of other people, tribes, languages or cultures
Endeavor to find out what your proposed business name means in other languages and cultures.
A good business name should be trademarkable from the outset. If you linger too long another may overtake you and trademark your very business name idea.
A good business name is very marketable. The name Coca Cola for instance needs no introduction.
Even people in remote, unreached places know Coca Cola, the name itself is a marketer, in fact the chief marketer.
A good business name quickly builds value. Over time it becomes more expensive like the examples cited earlier.
Do your business name ideas possess this quality? If they were to go to market today, how much will they fetch?
If your business name ideas were to be advertised or marketed directly to you would you honestly buy them and how much?
People want to buy a good business name because it’s sellable.
A good business name idea is one that anticipates and accommodates growth. This is very essential because businesses will grow, and growth induced name changes often carry high price tags.
Finally, remember that a good business name concept is:
Your business name ideas may not meet all 19 criteria listed above, but the more the merrier. With practice you’ll get better at creating brilliant business names.