Wise Wednesday - Choosing A Name

How do you decide on a name for your company? For starters don’t rush it. Brainstorm names for your business. Anything goes. Think about your target group – what would appeal to them?

Narrow down your list to three to five business names only.

On a sheet of white paper print-out out the names. Make sure that all the names use the same font and are the same size — do not try to turn them into logos. It’s important to keep the names the same font type and size otherwise a larger font or a “cooler” font can sway people.

Ask potential clients and friends for their instant reaction. Aim for a minimum of 20 people, ideally closer to 40-50 people. Keep track of their preferences.

Example:
I am starting a commercial cleaning business using only environmentally friendly products. Which name appeals to you?

Hand them the sheet of paper and say nothing else. Do not attempt to explain the names or go on about how great the idea is. Have them select the name based on gut instinct. This is important because you want people’s instant reaction. Name identification is an emotional not logical process.

This process allows you to soundly judge how others would perceive the name. You will get varying comments but what you are looking for is a consistent pattern. That is why a good sample size is important.

Have fun but don’t be married to a name. Don’t be fooled into thinking a great name is your ticket to instant sales and success. Otherwise it maybe the cruelest April Fool’s joke of all.

Cheers,

Dominik