APPLE PODCASTS | SPOTIFY | AMAZON
Episode #82
To listen to the full episode, click on the play button above!
I know that finding the perfect name can be frustrating and a bit daunting. And it can hold you up if you can’t make the decision. After all, how can you start trying to attract clients if you don’t have a business name? I also know that you want to get it right. This is effectively your baby and just like a parent names their child you want it to have meaning and that it reflects the personality of what you are creating.
But unlike a child’s name, you can change your business name in the future if it really doesn’t work for you. So don’t get so stressed out about this, that it holds you up from moving forward. Just find something that fits, feels right and you can imagine saying multiple times per day as you build your new business.
YOUR OWN NAME OR SOMETHING CREATIVE?
So one of the first decisions you'll need to make is whether to use your own name or create a company name. It depends on your goals, values and the direction you see your business going. It's important to weigh the pros and cons of both options and choose the one that aligns best with your vision for your business.
HOW TO CREATE A COMPANY NAME
So let’s say you have decided not to go with your own name. How do you come up with something original, meaningful and that you just know in your gut is right?
1. Research
First up is to dive into research. I know, it can be so tempting just to dive straight into coming up with creative ideas. But that can lead to disappointment! This is a big world and lots of people are also naming businesses and products and so 9 times out of 10 you will discover the brilliant original idea, is not so brilliant and not so original as someone has thought about it before. So it’s really important that you do your research upfront to see what is NOT available before you get attached to that name you are excited about.
2. Brainstorm your ideas
Now you know what’s not available for you to use, you can start getting creative. There are a few methods you can try to generate ideas.
The first is really to get your creative juices flowing is to brainstorm your ideas on a blank A4 piece of paper, or open a google doc or any word doc and write keywords related to you, your potential business and your sector. These could also include the products or services you offer, your location, and your target audience. Don’t think too much about it, just throw words down. The more the better. You are not editing yourself at this point. Then after a couple of minutes, start putting them into various 2 or 3 word groups, so you can see what words work together. This will give you a start on the types of words that should be included in your name.
Another tip is to look to other businesses in your industry for inspiration. You will have come across a lot as you researched, so take note of the names that catch your attention, and try to identify what makes them effective, and why they could potentially attract customers.
After you have got all that out of your head and have exhausted your creativity, you can bring in artificial intelligence tools. You may have heard about the new AI copywriting trend that is getting really big at the moment. If you haven’t heard of it basically there are new online tools out there that can write like humans. If you ask it to come up with a business name, including your keywords and whether you want it to be witty or funny or two or three words (basically whatever criteria you want) it will come up with ideas for you.
You could also try out the more classic name generator. These have been around a bit longer and there are many available that can help you come up with ideas unique and catchy names, in a matter of seconds.
Now a word of warning here, use these tools to help your creative process, don’t get lazy and just take one and run with it. AI is a great tool to use, but you need to make sure your business name means something to you, can attract the audience you want and has an essence of you and the brand you want to build. That special sauce can’t be replicated with a computer, it can only come from you. This is why you should always work on brainstorming the name yourself, before trying out the AI options.
3. Refine your options
By now you should have a list of potential names. And it’s time to start narrowing down the options by looking at a few important factors.. One of the most important things to consider is your target audience. Your business name should resonate with your customers and make it crystal clear what your business is about. It can be tempting to go with some fun original name, but if your potential customers will not have a clue what you do by the name then it’s a waste of time. So put yourself in your potential customer’s shoes when deciding.
Another thing to consider is the overall brand image you want to convey. Your business name should accurately reflect the type of products or services you offer. So will your business be fun or serious, high-end or budget or eco-friendly? A name that aligns with your values and mission can help to create a strong brand identity.
4. Test it out
By now you should have 1 or 2 ideas that you like and be ready to take them for a test drive, to see how people react because it isn’t always how you think (or hope) they will.
If you haven’t already involved them in the creative process then share your short list of names with your friends and family first. Ask them what they think of the name, if it makes them think of anything interesting or funny and if it accurately represents your business as you have described it to them. This will give you an idea of how well the name resonates with different people and can help you identify any potential issues that might make you want to change it.
But don’t stop there, your friends and family will be useful but there are also a lot of feelings and emotions mixed up in their views. They may not want to offend you or the opposite may be very blunt because they don’t want you to embarrass yourself. But most importantly, they may not be reflective of the views of your ideal customer.
So you know where I’m going next! You also need to find your ideal potential customers to get their views. You need to ask friends, colleagues or people in your network if they know anyone who matches your ideal customer profile who you could talk to. If you are on social media, put a post up asking for help from people with the profile of your ideal customer. You could also put a poll up with people voting for the option they prefer. Try a few ways, you just need a few people to respond to get a good idea if your business name works or not.
One more thing on this it's important to consider how the name will look and sound in different languages and cultures, if you want customers from around the world. A name that sounds great in one language may not have the same effect in another. Testing your business name with a diverse group of people can help you identify any potential issues and make sure your name is inclusive and appealing to all.
- Check if it’s available
This final step is less fun and more practical but absolutely essential. You need to make sure that the name you want is available. As you’ve already done some research on names in your sector you should know more or less that you have something that you can use. But don’t just assume. You need to dig deeper to make sure it is available. You can do this by searching in google for businesses or podcasts, blogs or YouTube channels that have the same or similar name.
Even a similar name can cause problems, especially in the same industry, so to avoid confusion and possible legal issues it’s important to make sure that the business name you choose is not too similar to existing businesses in your industry.
You should check with the relevant government agency or trademark office for your country to see if the business name you want is already registered as a trademark or used by another business. This is important to avoid any legal issues or confusion down the line. There will be one for whatever country you live in, so just type trademark office into Google and go to the relevant site.
Another thing to check is that the name is available as a domain name, as having a matching website is crucial for online visibility and credibility. (A domain name is a unique name that appears after the @ sign-in email addresses, and after www. in web addresses. So my domain name is @nicholaohara.com)
This will help customers find your business online and make it easy for them to remember your website address. It's also worth checking if the name is available on popular social media platforms, as having a consistent name across all your online platforms will help to build brand recognition.
THE BOTTOM LINE IS…
choosing a business name is not a task to be taken lightly! But with the right approach, it can be a simple and fun process. The right business name also gives you confidence, it’s like when you go out wearing a fantastic outfit and look amazing, you feel like you can take on the world. So don't be afraid to get creative, play around with words and have fun with it. And remember, as long as you are willing to put in the work, your new business will be on its way to success!
Links mentioned in this episode
AI Copywriting tools
Business name generators
https://looka.com/business-name-generator
>>FREE COURSE<< If you're feeling stuck and uncertain about what to do next in your working life, be sure to check out my free course "How to Decide Your Next Move." I guide you through the simple steps you need to take to get crystal clear on what you will do next in life, beyond the 9 to 5.
