So, you’ve got a great business idea, you’ve written an excellent business plan, and you’ve identified a potential client base. You are almost set to start, except you haven’t been able to come up with a business name yet.
This article will help you create a business name that helps you stand out, giving you options to jumpstart your creative journey.
Build a partnership
If you’re collaborating with another entrepreneur or merging with another business, combine elements of both names to create a new one. Twentieth Century Pictures amalgamated with Fox Film Corporation to form 20th Century Fox.
Mix things up
Try combining ideas 13 and 14–can you, like IKEA founder Ingvar Kamprad, blend part of your own name with the name of a town or city? Elmtaryd Agunnaryd is a combination of his name and the name of his hometown.
Look at a map
Get inspiration from the world map—we’re sure you’ve heard of Amazon, the eCommerce behemoth. It is named after the world’s biggest river, the Amazon.
Use your name
It’s your company, so why not use your own name? Many well-known companies, such as Adidas (named after the company’s founder Adolf Dassler, nicknamed Adi) or hp for Hewlett Packard, incorporate both the founders’ surnames(named after founders William Hewlett and David Packard).
Borrow foreign words
Incorporating a non-native language is another efficient method to come up with business name ideas. This may make your company appear unusual and intriguing to prospective customers, as well as unforgettable. It could be a French-named beauty salon or a Japanese-named tea business.
Take cues from literature or mythology.
Nike is one of the most well-known brands in the world. She is also known as the goddess of victory in Greek mythology. Other well-known corporations with mythical names include Pandora, Hermés, and Argos. If you’re looking for a mythical character to name your company after, we recommend conducting some study to see if there’s one that’s suitable for your business.
Using a mash-up is among the most creative methods for creating outstanding business name ideas. Consider two or three terms that are important to you and your company. Is it possible to integrate them in any way, either in bits or in their entirety? Haribo(founded by Hans Riegel and Haribo is based in Bonn, Germany), Evernote (from “forever” and “note”), and Nabisco(National Biscuit Company) are some well-known examples. In just three syllables, a name like “SaladGo” communicates that you’re establishing a business that specializes in salads-to-go.
A popular method of naming a company is to use a combination of initials. Many large corporations use acronyms rather than their full names because they are simpler to recall. Take, for instance, OSHA(Occupational Safety and Health Administration) or the MADD(Mothers Against Drunk Driving). If your company is called ‘Levine Advertising Agency,’ try abbreviating it to LAA.
Search the dictionary
If you’ve gone through the list and still can’t think of a name for your company, follow Twitter’s lead and pick a random word from the dictionary.
So, What’s Next?
Once you’ve decided on the right name for your new business, it’s time to check if it is available; you don’t want to share a name with a competing brand. If your name is trademarked, register a matching domain name, create social media handles, and consider filing a trademark application.
And now comes the fun part: once you’ve decided on a name for your company, you can begin advertising it with some basic marketing materials. Put your company name on postcards, business cards, custom packaging, labels, and other marketing materials.
Especially with a highly competitive market, such as with medical and recreational cannabis, don’t forget to leverage your custom packaging as a marketing asset that features your new business name in logo form front and center. To provide a consistent consumer experience from all around, keep your logo and font consistent across all media.