To build a prosperous company, it is important to make the right decisions from the very beginning. If you already have a business idea, giving it a name will be your next most important decision, as a well-chosen can be the first step towards success. It can make your business more memorable, visible, and eventually lead to greater brand recognition.
Here are the five biggest mistakes that you should avoid when naming your company.
1. Using local language and symbols.
You should not choose a name that only fits the local context. Even if currently, you have no plans of business development abroad, you never know what opportunities may arise. Aim for an international name by choosing Latin letters or symbols that can be easily understood globally.
2. Choosing one that’s hard to pronounce (or even read).
This mistake is closely related to the first one. The easier to pronounce, the more memorable your business name will be. However, if you already have an idea for a name in your native language, has special characters, and is therefore hard to pronounce, our advice is to think about what kind of similar letter combinations you can create out of that name instead. Maybe omitting the special characters and swapping some letters will make a new word that’s easy to remember and fits your company? Just remember: pronunciation should always be straightforward and never require too much additional effort.
3. Making it too long.
There is no strict rule that would recommend only choosing a short name for your business, but we highly recommend thinking of a name that’s short enough to remember but long enough to explain at least partially what your company is about. If it’s too hard to decide, share your name idea with your friends and ask if they think it is easily memorable.
4. Not researching your competitor’s names.
Competitors’ analysis is crucial in any plan of business development. Having researched your competitor’s names will help you prepare your distinctive positioning and protect you from choosing a similar name. The power of brand recognition will let you gain an additional competitive advantage.
5. Picking a name that is based on the domain’s availability.
Don’t reject a name for your business if the corresponding domain is occupied. You should always think about how your name will fit the industry, reflect your business, and will be recognized. Therefore, domain availability shouldn’t be the main driving factor when choosing a name – there are lots of creative ways to figure that out without changing the name itself.
When naming your business, remember to think both strategically and creatively. A wisely chosen name can help your business set itself apart from the competition. Spending some more time to come up with a great name now will pay off in the future.
Struggling to come up with a name for your business? Let’s talk! We are ready to help you and your business choose a lasting name. Contact us at hello@nomino.me.