The Evolution of a Business Name

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Naming my business

What’s in a business name? A business name evolves with time and company’s vision. There is nothing wrong with changing your business name after deciding on it, as most big companies had done that. But there is always a great reason, this article won’t go into the possible reasons. However, it is always best to get it right or close to right the first time.

I must tell you though, there is no love portion or magic formula for creating a business name that resonates. But a business name can be an instance success or evolve through careful tweaking. However, in this article I will share with you, the three (3) phases to consider when trying to find the perfect name for your business.

Brainstorming Phase

This is the first phase and you should allow enough time for fine tuning. At this phase you can enjoy yourself by jotting down any and everything that comes to your mind. Don’t be a shame of the silly things that comes to mind, it is a part of the process, write them down. This is also the phase that you go “Googling”, call upon the thesaurus and scroll through glossaries. There are many resources online to help simulate your creativity. Don’t hold back try varying resources as possible and you will be amaze of what you discover. Also, you can invent your name, was Google in the dictionary before Google was established? Have you ever named a baby? Don’t settle, explore.

Descriptive Phase

This is where you prepare your shortlist from the long list you created in the brainstorming phase. My advice is, choose the names that are most descriptive to your business and will illustrate the essence of what your business will be about. Also, it would be best to have an idea of the definition of your business (for example, your elevator pitch). That is, a short description of what products and or services you will be offering. This will help you to shortlist with purpose and focus.

Memorable Phase

This is the unforgettable phase where the tuning gets even finer. Ask yourself these questions:

  1. Does the name resonates?
  2. Is it short and sweet?
  3. Does it tell a story?
  4. Does it stick?
  5. Is it easy to spell & pronounce?

Your business name should always be in alignment with your outlook or the kind of business you will be operating. That way people will remember it easily and not be afraid to tell their friends.

Testing Phase

At this point, you can be jumping for joy. Also, you could be pulling your hair out, if you discovered that the perfect name you decided on, the domain name is not available because it is already taken. Therefore, you can settle on 3 names at the descriptive phase. Do your trademark research and get it right the first time. Also, you can do short surveys with people you trust. You can ask “What comes to mind when you hear…. (State your business name)?” That process can go a far way with validating that you are achieving or not achieving your desire outcome.

Deciding on a business name is serious business and is to be treated that way. Nonetheless, the tips in this article is by no means cast in stones or what is. There are many things to consider and many different ways to do it. However, I believe the above mentioned phases cannot be avoided. No matter how it is done, those phases will find their way into the process However, once you decided on a name, allow yourself sometime for it to sink in. You might be second guessing it, but wait for it to marinate. If you’re worried about the uniqueness of your business name and that it varies greatly from your competitor’s, have no fear. I’m sure Google had a similar feeling.

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Next Step Digital Solutions is one of the leading digital transformation companies that provides borderless digital transformation solutions across the Caribbean and North America.

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