Business Naming: The Unwritten Rules You Should Follow
As a startup entrepreneur, the first thing to do is spend quality time trying to evaluate between names to find the most appropriate for your business. With most young and vibrant entrepreneurs, the naming process is about finding an attractive and classy name. As much as this could make your business unique, it is essential to choose a name that is relatable to your operations, and customers would want to associate with. For your business to have an impact today and in the future, it is essential to follow all the set rules written and unwritten as a guide. Here are a few unwritten rules to consider.
Why Are You Starting?
In business, you will have competitors, and others will try to mimic your name to gain space on the market. Therefore, you have to stand out and silence the crowds as you lead. The only way to achieve this is to ensure you understand why you start your business. Your driving factor will always push you forward and increase your chances of becoming popular and standing out.
Naming after Founders
It often feels good to have your name on the papers as an indication that the business belongs to you. However, if you have intentions of expanding the business and having it exist long after you, then keep off from naming it after you. In the future, you might not be there nor the other founders of the organization. Being the leading people in the picture and the face of the company, it could be difficult for customers to transact with others in your absence. In return, your long created organization will crumble, and your dream is forgotten. However, if you choose a name that only focuses on your delivery, the dream will live on, even in your absence. Additionally, your name could have a similar meaning to something else, and a potential customer might find it challenging to get you on google.
Giving your organization a brand and ensuring that your name shows what you do is quite essential. However, there are times when even with your originality, you will still find hundreds of businesses with almost similar names. Although this could indicate you are blending in, it could also deny you the opportunity to explore the market. Therefore, use the metaphor rule to name your company. For instance, if you offer communication services, you can choose to use the name “Murmur.” This name has relevance to your operations, and it is unique. So customers will want to know more about the name and, in return, transact business with you, and it’s a win-win for everyone. Additionally, this name will go for generations as people will always have similar curiosity.
Before you settle for a particular name, find out common unwritten rules in your industry. Make a list of several competitors, divide them into groups based on their names, and check for the commonly used trends. Then circle on trends you would want to use and once you wish to avoid. After that, start looking for name ideas with inspiration driven from your chosen rules.