Why hire a research firm?

Summary

  • Use an acronym
  • Make a collage
  • Draw inspiration from mythology and literature
  • Use foreign words
  • your name
  • Take a look at
  • the Mix cards
  • Join another company Consider
  • nicknames
  • Use a symbol
  • Find a descriptive name
  • Use Latin
  • Think about your product from another perspective
  • Use abbreviations
  • Play with spelling
  • Tell your story
  • Talk about what you believe in
  • Choose a word from the dictionary And
  • what next?

Passion. Energy. Courage. These are the ingredients you need to start a new business. You have a great idea for a business, you’ve started drafting a business plan, and you already have a group of potential customers in mind. It’s (almost) all set to launch.

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But something is still missing… an effective name.

The name of a business should embody what the business wants to communicate. It needs to be memorable. And it should remind collaborators why they do their work.

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You could pay thousands of euros to an agency to find a new name that is trendy, relevant to your industry, memorable, and not copyrighted. But you’ve just started and have other priorities… instead of paying someone else, why not try to find the right inspiration and create your business name (and save some money)?

In this article, we will offer eighteen tips on how to find an effective name for your business.

  • Use an acronym
  • Make a collage
  • Inspired by mythology and literature
  • Use foreign words
  • Use your name
  • Take a look at the map
  • Mix the

    • cards

  • Join another company
  • Consider nicknames
  • Use a symbol
  • Find a descriptive name
  • Use Latin
  • Think about your product from another perspective
  • Use abbreviations
  • Play with spelling
  • Tell your story
  • Talk about what you believe in
  • Choose a word from the dictionary

Use an acronym

Many large companies use an acronym instead of their full name: it’s easier to remember. For example, AOL (America Online) or BBC (British Broadcasting Corporation). Therefore, if your company is called “Rossi Ad Agency,” you could use “RAR.”

Make a collage

Why not combine two or three meaningful words for you and your business? You could use whole words or just a few syllables. Examples for inspiration: TripAdvisor, Evernote (from “ever” and “notes”) and Netflix (“Internet” and “flicks”). A name like “Paninorapido” indicates that yours is a business specializing in selling takeout sandwiches… in just six syllables.

Inspired by mythology and literature

Nike is one of the most famous sports brands in the world… and in Greek mythology, she is the goddess of victory. Other well-known companies like Oracle, Hermés, and Mars also have mythological names. Do some research and find out if there is a relevant mythological figure for your business.

If you run a wine shop, you might try playing with the name “Bacchus.” Or you could use “Aphrodite,” the goddess of beauty, if you’re looking for a name for a cosmetics brand.

Use foreign words

If you include words in another language in your business name, you’ll make it exotic… and memorable for potential customers. For example, you might use French if you run a hair salon or Japanese if it’s a tea shop.

Use your name

After all, it’s your business… why not incorporate your name? Many famous businesses use the name of their creator. For example, Ben & Jerry’s ice cream or Boeing (the founder was named William Boeing).

Take a look at the map

Let yourself be inspired by planet Earth. Have you ever heard of Amazon, the online sales giant? Its name derives from that of the longest river in the world: the Amazon.

Mix the cards

Try merging tips number five and six. Why not combine part of your name with part of a city? Follow the example of IKEA: this name comes from that of the founder, Ingvar Kamprad, and from his birthplace, Elmtaryd Agunnaryd.

Join another company

If you are partnering with another entrepreneur or merging with another company, merge parts of both names to create a new one. When Twentieth Century Pictures and Fox Film Corporation joined, they simply became 20th Century Fox.

Consider the nicknames

Did they always call you “Ali”? You can use it in the business name to give it a personal touch. Or you can use the name or nickname of one of your children to add sentimental value to the brand (and make it impactful). After all, the car manufacturer Mercedes was named after the founder’s daughter.

Use a symbol

Another way to find a name for your business is to draw inspiration from a symbol or an essential element of your work. A name like Naturol communicates a core value for the business and is easy to remember. (Two birds with one stone!)

Find a descriptive name

When you think about your business, what words would you use to describe it? Write them down and try to imagine how these words could fit into your new logo or advertising banner. For example, 7-Eleven: the name immediately communicates what makes these stores special (they are open every day from seven in the morning to eleven at night).

Use Latin

Maybe when you studied Latin in school, you thought it was a waste of time… but why not use it to create your business name? Companies like Volvo (volgere, spin) and Acer (forte, tenacious) are named after Latin vocabulary. Choose a word that can represent your business, such as Regius (regio, regal).

Think about your product from another perspective

Try looking at your product from another perspective and see if it can resemble something else… for example, a phone that looks like a blackberry (Blackberry). Maybe you’re launching a cosmetics company and you’ve noticed that the packaging resembles flowers. Why not include that item in the business name?

Use abbreviations

An effective name shouldn’t be too long. If there’s a word or phrase that holds great value for you, why not use part of it to create your business name? Cisco, for example, is inspired by the city where it was founded: San Francisco.

Play with spelling

Remove or add a letter, or completely change the spelling of a well-known word to make your business name even more appealing. Flickr and Tumblr, for example, dropped the “e” in the last syllable of the words “flicker” and “tumbler” to create concise and flashy names. Alternatively, you could choose a fundamental word for your business and find a new way to spell it, as Reebok did: the sports brand was inspired by “rhebok,” a type of African antelope.

Tell your story

Is there a great story behind your business? Why not tell it in the name? That’s the case with Virgin: in this way, the founders communicated that they had never run a business before.

Talk about what you believe in

Use your business name to remind yourself (and remind employees and customers) what your values are. A name like “Nomad” immediately evokes the idea of travel and adventure.

Choose a word from the dictionary

If none of these ideas have given you the right inspiration, do like Twitter and choose a random word from the dictionary.

And what next?

Once you’ve found the right name for your business, it’s time to take action. First, you need to make sure it’s available: you can’t name yourself after another business that is part of your competition. If your name is truly unique, secure a matching domain name, set up an Instagram account, and also consider registering the trademark.

And then comes the beauty: once you find the right name, you can promote your business with basic marketing products. Put your business name on promotional cards, business cards, and many other items. Use matching logos and fonts to create a consistent customer experience from start to finish.

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Why hire a research firm?