In business, there are a lot of things that you need to learn and develop. Running it would be the main priority as this would dictate the success of the business. Managing would be responsible for growth and development as you can see in this link. However, there are a few little aspects that some people might forget when it comes to operating any kind of business or organisation.
For example, being a startup is already a challenge of its own. There are a lot of issues that you need to tackle because the bigger problems start earlier in the cycle. In some cases, it can even lead to serious repercussions if ignored. Meanwhile, you can also encounter some issues even before the conception of the business like choosing a name.
Names don’t come easy
People think that it is easy to choose a name for your organisation. It is just a word representing your business, right? However, it is far more than that. In the past, people always said that names have power. This is usually about religion, as people often use epithets in place of the real names of their deities. To this day, many cultures still follow this custom as millions of people who are devoted to their patrons.
For business, it is an entirely different thing. There is no rule regarding naming your organisation. However, certain terminologies can get you into trouble. For example, those who are invoking hate speech are not allowed. Another thing that is supposed to be avoided is the use of offensive language. This does not stop people from being creative with their made-up words.
Choosing a good name is also great for branding. This will be the backbone of your entire marketing strategy. You need to have one that represents your identity as a company while still being true to your goals and aspirations. Meanwhile, be wary of copying another’s trademark as this can lead to lawsuits. This is where you need to follow copyright laws, but almost every word in the dictionary is a free game.
Luckily, the name game is not something you have to play all by yourself. If you are still having trouble, you can certainly go to a website that can give you great business names that have all the prerequisites for success. For a fee, they can give you suggestions depending on your preferences and the nature of your business.
This can be too impractical for some especially for startups, but it can remove some of the brain load that you have in thinking of a concept. They can also provide you with examples regarding the making of the logo, and this can be the official face of your company.
Tips and options for the brand
1. It should be memorable.
As mentioned before, one of the key things that should be thought of whenever you are giving a name to anything is it should be memorable. This refers to the ability of the person to recall your brand and associate the word that you have chosen with the company. Now, this would depend on a lot of factors. However, it is already noted that having 3 syllables and less is so much easier to remember than longer ones. Take a look here: https://www.theatlantic.com/business/archive/2011/05/the-science-of-naming-brands-from-ipad-to-ice-cream/238820/.
You can see this everywhere. Well-known brands like Nestle, Oreo, Google, and Disney are just a few examples of short yet memorable names. This is because our brain can handle information based on the speed that we are taking it in. For these words, you might be able to encounter it a lot because it takes up less space on their products or building.
2. Uniqueness is a great factor
Another option that you can explore is having a unique name. These are not so generic terms that can still work for branding purposes. We can use one of the brands that have already been discussed: Google.
Its parent company is named Alphabet, Inc. The name has been chosen because it is a misspelt version of googol, with 1 followed by 10 to 100th power. This signifies the amount of information that this company can provide.
You can look into your services and see which ones can work for you. There are also word generators online that you can use. However, there is no exact science regarding this as this depends on the creativity of the person. Also, this is dependent on the time that it was introduced whether it will be successful or otherwise. However, having a name like no other would provide you with the recognition that you need to start your marketing strategy.
3. Acronyms can work but don’t overuse it
If you are already at the end of the line, then you can still have a longer name for your company. However, you will need to shorten it. There are also several options for this one. You can follow the classic first letter of each word in a brand like NASA (National Aeronautics and Space Administration).
Meanwhile, there are other formats you can use like combining adding the other letters as well. For example, Skype is derived from the terms Sky Peer-to-Peer, referring to the technology that they are using as this article says. Another technique that you can use is using an existing word and choosing the terms per letter. However, be careful as other organisations might have used it already.
4. Consider your local language
Lastly, it is important to make sure that your potential market understands your name. It is safer to use English since it is the most common language used for business and transactions. However, you can get away by using a foreign language especially if your base of operations is in that area.
For example, BMW is already an established brand, but most people can only recognise the acronym. This is because its meaning stands for Bayerische Motoren Werke. Another common example would be Ikea.
Other brands can also use their local language for foreign transactions because it is a part of the name of the founder or creator of the brand. Even though its origin is in Sweden, it does not mean anything in Swedish. It just comes from the name of the founder. Wherever you are in the world, always think about your customers first.
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