How to put a commercial name to your business

How to put a commercial name to your business

The commercial name of your business it is fundamentally important for several reasons.

The most important surely is that over time, that name of your company becomes your brand. It becomes something that your customer associates with an experience. And that’s when that image becomes a powerful force of attraction for more clients and more businesses.

But Every entrepreneur’s dilemma it isHow to find the most suitable name for my company? How to choose the perfect name for my business?

So here I share other ideas that you can take into account to find that name that not only makes you feel comfortable but at the same time gives you that power of attraction that we talked about.

  1. Make sure it’s a memorable name. Part of the success of a good business name is that it is easy to remember and that it becomes a brand. Short names usually have this characteristic and it has been shown that many successful companies they have taken advantage of this concept very well. For example: McDonald’s, Coca-Cola, Toyota, Nokia, American Airlines, etc.
  2. Make sure it is a name that is easy to pronounce. Associated with the previous point, if it is easy to pronounce, it is easier to remember. Complicated names, foreign words, and compound names can be ineffective at positioning themselves in your client’s mind. Preferably choose a name for your business let it be in your language.
  3. Select a name that conveys the role of your business. This is not a rule and, in fact, only some companies make use of it, making it clear to the customer what they will find. Like any name, a lot has to do with the marketing and the image behind it. For example: “La Casa de las Cortinas”, “Payless Shoes”, “Planet Internet”.
  4. Choose a strategic name for marketing. Telephone companies are usually very skilled at this. For example: “Tigo” and “Claro”. All of his slogans and campaigns have use these words to form messages that the customer does not forget.
  5. Find a clever name that grabs attention. A tip that can work very well is to find or invent a business name that is very flashy, comical or even controversial. This can create an immediate impact on the consumer that for nothing in the world will forget what your business is called. For example: “Burger King”, “Bimbo”, “The King of Fashion”, etc.

Where to find more ideas for your business name?
Since not everything is made up, there are several places where you can find ideas to create your own concept. Remember that finally the good is worth copying.

  • The Internet is the largest source of information that exists. You will find thousands of names and forms that will be useful to you.
  • The phone book or yellow pages. Another useful source of information as there are hundreds of companies organized by services that will help you choose the most appropriate image and perfect name for your business.
  • Dictionary. Here you can find synonyms or words associated with a concept that will allow you to broaden your perspective of what it means and thus find more possibilities to choose from.
  • Consulting firms. If all this does not allow you to find the ideal name you are looking for, there are companies of marketing consulting that can help you professionally find the name you are looking for and create your image and even a marketing strategy.

An exercise that works very well is to choose a set of possible options (let’s say 5) and ask your friends, collaborators and family for their opinions. Based on your answers, make a kind of statistic to finally choose the one you consider the most attractive and appropriate business trade name.

These are some interesting stories from famous company names and how its founders chose its name:

  • Adidas- of the founded Adolf (Adi) Dassler.
  • Apple- Steve Jobs one of its founders worked for 3 years in an apple orchard and his favorite variety of apple is called Apple’s Macintosh.
  • Coca-Cola- related to coca leaves and kola nuts used as sweeteners. Creator John S. Pemberton changed the “K” to “C” because it was better.
  • Colgate-Palmolive- formed by the union of Colgate & Company and Palmolive-Peet. William Colgate, was an English immigrant, who started his business in New York in 1806. Palmolive was named for two oils (Palma and Oliva) used in its production.
  • Daewoo- founded by Kim Woo Chong so named because it means “Great Universe” in Korean.
  • Fiat- acronym for Fabbrica Italiana Automobili Torino (Italian Automobile Industry of Turin).
  • Google- comes from the word googol, which mathematically is a 1 followed by a million zeros, in honor of the huge amount of data they handle.
  • Honda- surname of its founder Soichiro Honda
  • IBM- Tom Watson, a former National Cash Register employee named it that way and stands for International Business Machines, or International Business Machines.
  • LG- combination of the two Korean brands Lucky and Goldstar
  • McDonald’s- surname of the brothers who founded it in 1940: Dick McDonald and Mac McDonald
  • Mitsubishi- is made up of two parts: mitsu means three and hishi means Aquatic Caltrop (a diamond-shaped aquatic plant) and hence its 3-diamond logo.
  • Nike- name of the Greek God of victory. (which is spelled niké)
  • Suzuki- from its founder, Michio Suzuki

Finally, remember that the most important aspect that you must not forget is that the name is finally made. This means that the weight, image and strength that a name transmits is built over time, with good service, with quality and guarantee and with everything that surrounds your company. So, look for a good business name, but never neglect the above.

Other creative business ideas:

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