When an entrepreneur is considering a name for their company there are so many things you want to think about. We know, we’ve been there ourselves. That said, we want to share with you some insider tips for the perfect name.
How to Name Your Company
There are so many things to consider when business naming, there is however, one thing you simply can’t forget about. That is the availability of the matching dot-com domain name.
While a startup entrepreneur can spend thousands, if not hundreds of thousands of dollars for the perfect company name that doesn’t mean they can use it. Simply put, if you can’t secure the exact match dot-com domain you’re totally out of luck.
If you’ve read our blog, I Need A Company Name, you would have heard us speak about creating a group of stakeholders. This group should help you name your company. This group should include perspective clients, employees and most importantly, potential customers. Today however, we’re going to talk about the actual name for your company.
Tip #1 for Naming Your Company
Our first tip on how to name your company, consider a fun acronym. Our team, often tosses acronyms around the office all the time. You know the ones, KISS for Keep It Simple and Short or even LOL for Laugh Out Loud. Experts agree, the shorter the name the better. Anything over eleven (11) characters is too long. Remember, the longer the name the more opportunity there is for someone to misspell it or inadvertently type the wrong character in on the computer. This could send potential customers to the wrong site or worse to your competitor.
Tip #1 for Naming Your Company – Acronyms
Make sure the name for your company is integrated with your concept. Furthermore, into the industry you’re going to be active in. For example, “5Cor” would make a great technology company name.
This name could represent the five core your tech company stands for.
Tip #2 for Naming Your Company – Expandability
Second tip for how to name your company is to consider “expandability.” If you’re a small flower shop in Milwaukee with no desire to expand to the neighboring state this isn’t for you. However, if you’re looking to open new stores in California when you’re named “Milwaukee Florist” you’re going to have a problem. If you’ve got your eyes on being the largest florist in the US then the name “Milwaukee Florist,” has to go.
To begin with, most people will have difficulty spelling “Milwaukee.” Unless your reginal name connects your business to somewhere specific that has positive connotations to your product, you’ll have to rename.
Keeping with the technology name mentioned above, you can get some ideas for how we name a IT Service company. If you have any questions about these names please contact the Brandings company naming team. If you feel like doing it more publicly, feel free to post it below.