It was told that you should never try and name your own company yourself. You cannot be objective enough to come up with the perfect company name. I thought about this, and decided to look into it further. It seemed ludicrous to me that a stranger could have a better feel about your eventual company name than you could.
I accept that they would have more experience in this field, but your company is ‘your baby’ and most probably was formed from ‘gut instinct’. I say use that `gut instinct’ and have a shot at naming your own company yourself. It’s FREE, and all it will cost you is a bit of time.
3 Easy Steps to naming a company.
STEP 1 :
This is a really important step if you intend to expand your company in the future. Try to look at your business and its future potential. If you are planning to expand your product range/service to include different products/services than you started with, or are not sure at this stage, then please consider the following example: Imagine you are promoting a hairdressers and that it is the only service you intended to promote, then you could quite happily choose a name that reflects that one service.
However, say you decided later on to add more ‘beauty’ treatments such as nails, massage, tanning etc to compliment your coiffure business, you would then need to find a company name that is more generic, for example ‘hair and beauty’ as opposed to just ‘hair’. Do you see where I’m coming from? In its simplest form, by adding `beauty’, you are basically leaving the door open to add a number of products, and that one word covers all possible additions to your business.
Do some simple research on the keyword that your business represents. It maybe something like ‘Hairdressers’ or `electrician’. On the internet, go to Google and type in ‘Keyword Selector Tool’. Click on the link and you will find a page that asks you for your ‘Keyword’ or ‘keyword phrase’. In this box, you want to put your business keyword e.g. ‘Hairdresser’. When you click ‘Search’ this will bring up a list of related keywords that will be related to your business.
This is a great way to find words that you may never have thought of. That’s not the only great thing though; all of these words are what people like you and I are searching for every day of the week. It can’t get much better than that can it?. You not only get some great ideas for naming a company, but you can rest assured that it will be a name that people are actively searching for every day.
Once you have done your research, write down three or four ideas that ring your bell. At this point you will no doubt have a favorite, but try and stay objective. Give the list to your friends and family and anyone who will help. Get them to put their top three choices in order of favoritism.
Gather the results together and treat it as a ‘poll’. If the answer is crystal clear, then go with it. If there is some doubt, then use those instincts!
Finally you need to go and check that you are the only person with that company name. If so, get it registered as soon as possible. Another good idea is to buy a domain of the same name if possible. Even if you have no plans to promote a website just yet, it only costs a few dollars per year to renew it. Then if and when the time comes, you are ready to go.