Tips for Naming Your Business
Deciding on a business name is one of the most challenging parts of the branding process. The right name distinguishes you from all others, and ideally, it establishes your personality, brand character, market position, and the nature of your offering. Here are a few tips to help you find the right name for your business.
Determine what your brand is all about
Naming your brand starts with knowing who you are as a brand. An easy way to do this is by creating your brand definition (AKA brand statement) if you haven’t already.
Your brand definition (or statement) should convey what your brand does, what problem does it solve, and what makes it unique? After you’ve crafted a brand definition think about potential names that align with your statement. Your name should support your desired brand image and be consistent with your brand promise.
Think long-term
Does it fit with your brand identity?This is your name that will forever be associated with your business. Regardless of whether your promise is directly presented, implied, or simply supported through your brand name, make sure it’s pegged to a commitment that’s small enough to keep but big enough to grow with your business.
Have a brainstorming session
Jot down at least 10 potential names that you like. It can be anything. Consider names that are easy to pronounce, unique, and pleasant to say. What emotion does it inspire? Does the name create a positive reaction or negative? Think about who your ideal customer is, and ask yourself whether or not the name will appeal and make sense to them. Order your list from best to worst, then narrow it down to your top 5 picks.
Check Domain and Social Media Availability
Now that you have landed on your top 5 choices, you need to make sure that your name isn’t already taken. You can look up domain availability on almost any hosting platform such as Go Daddy or Shopify. You don’t need to be a member.
What if the name you want isn’t available?
If your name isn’t available exactly how you want it, don’t give up so quickly! Check for similar alternatives that still effectively communicates your brand and speaks to your customers.
In my case, my official business name and domain is “Tory Louise”. But that wasn’t available on Instagram. However, I found something even better. To my surprise, the username @ToryBranding was available.
I love it because it’s clear, memorable, and straight to the point. When someone interacts with my account, there’s no confusion as to what services I provide.
Visualize it
After you’ve decided on your top choices and verified its availability, it’s time to bring the name to life. I suggest testing your name name out with your favorite fonts, color tones, and potential logo designs. Canva is a great place to create easy graphics and logos, without having any professional design experience. And it’s free!
Design various logo concepts with your potential name
After, you’ve established a brand name that adheres to your brand character, You should start drafting up some logo concepts. This will help you determine what styles and formats work best. If you’re not a design professional, consider hiring a freelancer.
My biggest mistake
Overall, you should try to settle on a brand name early on. I changed my brand name several times after launching my website and social media accounts, which was a HUGE mistake. Not only did I waste money jumping back and forth, but it also hurt my credibility and legitimacy as a business owner. I pretty much had to re-create my entire brand and start over.
Qualities of a great brand name:
Your brand name should convey, imply, or support your brand promise.
Your name should convey or support your desired brand image.
Your name should convey or be consistent with your brand promise.
Your name should have the capability to grow with your brand and to appreciate as an asset that can be harvested through premium pricing, through licensing, or even through the sale of shares in your business or the outright sale of your brand name to a future owner.
