Table of Contents Hide
- Know Your Customers
- Define the Scope of Your Business
- Come Up with Name Ideas
- Try It on a Few People
- Ensure It Is Available
- Business Yield Idea Generator
So you have a great business idea and are looking to bring it to fruition but you do not have a good name yet because to come up with a great name of business is no mean feat. The name of business you choose can go a long way in boosting your confidence and brand image, not to mention attract people to your business. It is therefore very important you pay the necessary attention to it.
In this article, using a five-step approach, we will be discussing how to come up with the best business names.
Know Your Customers
Before coming up with a name of business, it goes without saying, that you must know your customers otherwise you will be unable to generate a name that appeals to them. The key to knowing your target customers is observation and research. Research your product or service and the kinds of people who are likely to patronise it.
It is also important to know consumer buying patterns so as to better position your business. By knowing the reason why they buying certain products or patronise certain services, you can make your brand more attractive.
Define the Scope of Your Business
This involves clearly stating all the areas your business will touch. Say you want to start a catering business; you must clearly state if you’ll be providing an outdoor, indoor or specialised catering service. If you decide on only catering outdoor events, you need to also make a distinction on the kinds of outdoor events you are going to render service to. This will further help ensure the name of business you pick is suitable to the type of business you do.
Come Up with Name Ideas
In coming up with name ideas, do not be afraid to experiment. Do not set out with a particular name in mind. You can use the following tips to create the best names of business.
Use Your Name
When deciding on the best name of business, many people find the perfect one in their own name. It might be a misspelling of your given name or in combination with some other word, just ensure that it is attractive and easy on the tongue. Adidas and Toyota, for example, are variations of their founders’ names.
Use Foreign Words
If you are in a place where the lingua franca is English, for example, you can generate the name of your business from foreign languages like French, Russian and Italian. You can also translate symbolic English words to other languages so as to make your name of business different. Nivea, Lego, Volvo and Haagen-Dazs are examples of names that where got from foreign languages
HMD Global, DE SPAR, CNN and BBC are examples of companies that use acronyms as their business names. You can shorten a long name idea to a better-sounding acronym. Acronyms can help an otherwise forgettable name remain in the minds of customers.
Mix Words Up
In other to come up with the perfect name for your business, you can mix things up; take a word from one language and add it to another from a different language. The people who came up with the name Verizon did exactly this. They mixed the Latin word for truth – Veritas and the English word, horizon.
Get Names from Myth and Legends
You can select names from African, Asian or European myth and legends that symbolise the vision or essence of your company. Nike, for example, is the name of the ancient Greek goddess of victory. Pandora and Venus are other examples.
Let It Describe
Your name can be a description of what your brand does. Business Yield, for example, is aimed at helping people yield the best results in their business endeavours, hence the name.
Abbreviating your brand ideology or some other aspect of your business you can put into words is also a good way to come up with a fantastic name of business. Durex, for instance, is short for durable reliable excellence and Nikon is short for Nippon Kogaku.
Use the Dictionary
It was from a dictionary that the famous brand name Reebok came. The company, which was formerly known as J. W. Foster and Sons, was renamed after the founder’s grandson discovered the name for an antelope in a South African dictionary.
Tell a Story
Your business name can tell a story. Pepsi, for example, was named as such because its inventor believed the drink aided digestion like Pepsin, the protease in the stomach which helps to break down protein.
Virgin Atlantic, the British Airline company, has a name that would ordinarily not be thought of as the name of an airline or any other brand for that matter but the name creators took the unconventional approach. No-Ad, a skincare company, and FCUK, a perfume company, are other great examples.
Try It on a Few People
Do not use a business name until you are sure it is appealing and memorable to potential customers. You can carry out polls target at families, friends and acquaintances on Twitter and Facebook with a shortlist of your best ideas and see what they think. Online poll tools can also be made use of.
You should also have one on one interview with select individuals. When carrying out such interviews, pay attention to people’s initial reaction, not just what they say about it.
Ensure It Is Available
After choosing your brand name, you must ensure it is not being used by anyone else. The first step to doing this is to search your chosen name on a search engine to check if any other brand is using it online. You can also check on popular social media platforms like Facebook, Twitter and Instagram.
After checking online, ensure you have your company registered with the Corporate Affairs Commission or other relevant authorities in your country. As part of the registering process, the Commission will ensure that your proposed name has not already been registered by another company and in the event that it has, will notify you.
Even with this approach, you may still not be able to come up with a great name for your business. If that is the case, you should try a good business/brand name generator tool. Name generators litter the cyberspace but only a few a worth your time.
Business Yield Name Generator stands out because it takes the time to carefully consider your answers and conduct research to come up with the most suitable business name for you. With just a small fee, you get a list of great names tailored to your business sent to your email.
Perhaps you are still in the process of finding a good business idea but do not seem to be making headway. Business Yield Idea Generator is just perfect for you.
What makes Business Yield Idea Generator the best you can find is that it is purely done by humans, not a set of algorithms or Artificial Intelligence. Humans gather data and do a quick but detailed research based on the information you provide. It is simple to use; all that is required are your answers to a set of quick questions and the perfect business ideas will be sent to your email in less than 24 hours.
As the most feasible idea generator, it takes 24 hours for the generator to come up with the most suitable business ideas for you. This comes after careful consideration of your budget, intended location, talents and skills, availability and what not. With the submitted data and just a little token, you will get a list of ideas sent to your email based on an extensive feasibility study. You will also receive access to business plans, business model canvas and a 3 year financial analysis to help you get started with the business.