Crafting a Memorable Business Name: Strategies from Successful Entrepreneurs

Choosing a name for your new business can be a source of insomnia. It is crucial but also very challenging, as the brand's name can mean a lot to one person and absolutely nothing to another.

The decision deps on various factors. For instance, it might be more important that the name is relevant and easy to spell so people could find it through search engine queries, or it communicates exactly what your company offers or sells.

Elne Clark named her accounting business CheapAccounting.co.uk thirteen years ago. It's self-explanatory, she says. Accountants dislike it, but Google searches love it; I've never had to pay for SEO efforts. It generates approximately 60 to 80 new client inquiries every month marketing or advertising costs.

Some entrepreneurs have opted for names that intrigue, engage and encapsulate their business's essence. Wazoku, a platform designed for innovation management, chose its name based on the Japanese word 'wazukuri' meaning creation of something new.

Wazoku co-founder David Cooper explns: The name resonated with our vision to help businesses create novel solutions.

Other names incorporate unique language techniques:

• 500 Startups, a global venture capitalist firm.

• Allbirds, a sustnable footwear brand named after the New Zealand tree that inspired its softness.

When naming your business, consider these tips:

1. Target Customer: Keep your target audience in mind during naming processes.

2. Personal Excitement: Choose something that excites you personally and reflects your passion for the company's mission.

3. Uniqueness Check: Ensure it isn't already taken by someone doing the same thing; use Google to search your ideas, and Companies House if based in the UK.

4. Community Input: Ask people for suggestions; they love being involved.

5. Live Testing: Try out your final choice for a few weeks; get feedback on its reception.

Have lots of ideas, suggests David Cooper, write down every word you think of and use that to create a shortlist.

To generate creativity, play with words like alliteration:

• Great Granola

• Really Good Rugs

• Cantankerous Cakes

If you've been navel-gazing for too long, it might feel like a brn freeze. Choose something quickly because if you start for free, you can always change it later without wasting money.

In summary, naming your business is an exciting step in entrepreneurship that requires creativity, research and considering the needs of your target market while also capturing your personal excitement.
This article is reproduced from: https://www.forbes.com/sites/alisoncoleman/2020/03/15/the-art-of-choosing-the-right-name-for-your-business/

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