One of the most challenging aspects of starting a business is coming up with a name for your company, product, or brand. The “name” is the single most important characteristic your business can have. It’s what will connect consumers to your business or product and may ultimately determine your success.
There are certain rules to remember when picking a good brand name:
Choose an easy name – It should be easy to pronounce and easy to remember.
Make it unique – It should be different from other similar products or businesses and stand out, but it should also make sense in terms of what service or product it represents.
Give it meaning – It should reveal something about the product or quality and represent what your business is. This is especially important for start-ups because you’ll need prospects to have an idea what the product or business is when they hear its name.
Forget initials – Since you aren’t HP or AT&T, you need a complete name to start with. Even those companies started with a complete name and then transitioned to initials. You can do that too, but not until you have firmly established yourself.
Make it flexible – You may start out selling or offering services of one type, only to broaden your scope later on. The name should be able to be extended and converted to other areas.
Fun to say – It needs to sound good when said. Names with alliterative properties like Coca-Cola or rhymes like Jelly Belly are popular with consumers because of the catchy, fun to say wording.
Protect your name(s) – Trademark your business, brand and logo and patent your ideas. You don’t want anyone using your names or ideas to cash in on your success. Consult with an Intellectual Property Attorney to protect your business and products to the fullest extent of the law.
The best brand names are the ones that are easy to say and read and customers can attach themselves to because they speak to them on an emotional level. Just remember, you can create the greatest name in the world, but if you don’t protect it, it could end up being useless.