In a competitive business world, entrepreneurs need creative and unique names for their companies to stand out.
A business advisor and digital nomad, Gilad Krein has a personal blog about business and advises businesses. He believes a company’s name is one of the most important and visible aspects of any business.
“Your business will be remembered by its name,” Gilad Krein said. “It’s how they’ll find you online. And it’s often the first thing they’ll see when looking for your product or service.”
In this article, he provides tips on coming up with catchy business names.
What Gilad Krein thinks a good business name should Include
An excellent online business name should convey a message, be memorable, and stick out from the crowd. Gilad Krein describes the characteristics of a great business name as follows:
Suggestive
A business name needs to suggest something about the company. What does your business do? What are its values? Think of your business in terms of how you would like it to make your customers feel.
“A good name for your online business should be able to evoke something about the brand. The name should contain a keyword or concept that represents the business,” Gilad Krein said.
Memorable
Coming up with a memorable and unique online business name can be challenging. However, trying to make your business name as unforgettable as possible is essential.
People are unlikely to return to your website or buy your product if they can’t recall your name. “Use wordplay or alliteration to make your online business name more memorable,” Gilad Krein suggested.
Imagery
In addition to being memorable, it’s also crucial for your online business name to be visually evocative. People should be able to see the image of your company in their minds when they hear the name.
In this way, they will be able to remember and locate your business in the future. “You can also try using alliteration or rhymes to create a name that’s easy to picture,” Krein said.
Legs
Entrepreneurs generally prefer business names that can be used for a long time. Your chosen name should apply to more than just your website or product.
“A good online business name should be able to lend itself to a theme for extended mileage. You can use the same name for the website, social media channels, marketing materials, etc.” Krein said.
Emotional
A good business name should also evoke an emotional response from its customers.
“Your business name should be something that people can connect with on an emotional level. This way, they’ll be more likely to remember your name and return to your business,” Krein said.
How to Choose a Business Name, according to Gilad Krein
Before you choose a business name, it’s essential to do your research. You’ll want to make sure that the name you choose is available and won’t be confused with another business.
Gilad Krein recommends the following tips for any entrepreneur choosing a business name:
Choose a name that creates the right impression
You do not want a name that will turn people off or make them second-guess your business. Also, you want to ensure that the name you choose for your brand easily connects with your line of trade.
For example, a name like “Home Food” would not be a good idea if your company sells organic food.
Pay attention to pronunciation and spelling
Remember that many different cultures and societies exist. So, you want to avoid cultural and language mishaps by picking a name that’s easy to pronounce and spell.
So, double-check how the name is pronounced and how it is spelled. If your name is mispronounced or misspelled, you risk losing customers.
It easily describes what you do
The name should tell people what kind of product or service you provide. For instance, the name “Cake Boss” would work for a bakery that sells cakes.
Whenever possible, avoid generic names. Customers may mistake your brand for a different company.
Consider the future
You need to consider how your company will expand and develop over time. This should play an essential part in the name-selection process.
You should ask yourself questions like: What products or services would we like to add in the future? What would we want to change?
If unsure how to do this, consider looking at businesses like yours to find names to inspire you.
Consider potential overseas hurdles
Your business name must be appropriate in other cultures if you do business overseas. Try to find out if there are any hurdles to picking a name for your business.
Business-naming mistakes Gilad Krein thinks you should avoid
Regarding business names, Gilad Krein has seen it all with his ten years of experience helping online businesses grow. He has helped businesses choose names and has also seen businesses make costly mistakes.
“In the long run, bad naming decisions can cost businesses a lot of money,” Krein said. Here are the top business naming mistakes to avoid:
Choosing a name based on one specific product
“If you choose a name based on one product, you’re likely to get pigeon-holed,” Gilad Krein said. “And if that product ever goes away, your whole business could be in trouble.”
The name seems unrelated to the business
Krein said that another mistake businesses make is choosing a name that appears irrelevant to the company. “This is often a result of businesses wanting to be ‘cute’ or ‘clever’ with their name,” Krein said. “But, in the end, it just confuses people.”
Too literal or plain
“You want to avoid names that are too ‘on the nose,'” Krein said. “Make sure your name is not too generic. You want something unique and memorable.”
Too sophisticated
Krein believes that businesses should also avoid too sophisticated names.
“You want to make sure that your name is something people can understand and pronounce,” Krein said. “A name shouldn’t be so sophisticated that people can’t pronounce it.”
Not checking if there is a .com domain
“You want to make sure that you can get a .com domain for your chosen name,” Gilad Krein said. “If you can’t, you might want to consider a different name.”
In conclusion – be open minded when naming your business
Choosing a business name isn’t something that should be taken lightly. Consider many factors when making your decision. Money can be lost in the long run if you make a mistake.
So, take your time, research, and choose the right name for your business.
When starting your online business, naming it on your own can be challenging. Getting a few different perspectives from friends, family, and potential customers is always a good idea.
To build a brand, you need more than just a business name. It will give your business an excellent first impression, but you must meet the customer’s expectations to succeed.
