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How to come up with a Good Business Name?



There are many blogs and websites out there you can pick up tips and rules on how to choose a company name. During my time brain storming my own business name, I personally find it a more complex process; also hard to position next step once I got stuck. This article might not be the best, yet, this is my own true story to share, hope you like it.

Story of my company name

My company is called “CatcherBiz Limited”. It is a company aims to provide company setup and corporate advisory services in Hong Kong, facilitating entrepreneurs to catch their business opportunities.

So, it actually took me 9 months to settle with this company name, much longer than I thought. Sure, you can finish in shorter time frame, this is only to illustrate that come up with your own company name will not be a ONE-day task but requires patience to generate the sparks in your brain. Let’s start my sharing:-

All begin with your business aspiration

You have a dream!! The initially thought should be something like “I can do better if this is my company!!”. Hold this tight and nurture it to become your aspiration, write it down of what’s makes your company different!!

Visualize your dream

Imagine upon finish a successful business deal; what will be the critical factors that make it success? What will be the part that customers appreciate you the most?

For example the batteries company “Energizer”; the sports drink company “Red Bull” and its slogan “Red Bull Gives You Wings”; or the professional networking company “LinkedIn”, all you can easily relate the company name with what deliverable that the company can brings you.

Make every single though counts

It might take months to come up with few good keywords that seems useful but unable to finalize as your company name. At this stage, try to keep a pen with a small piece of paper in your pocket. Try to drop down any small ideas, or catchy words that give you an impression. Also, you can try to do a little research of the top companies in the industry to summarize with some trends or similarities that might narrow down your thoughts with one to two clear directions.

Uniqueness??

Now, you should have several company names that sounds right, looks right and feels right. You might be indecisive among them and unable to give up one for another. To move on, you can try to think of an image, a scenario or an icon that best represent your company; for example. “Red Devil” is the logo of the UK soccer team Manchester United; or the Japanese household products retail company “Muji” which means “No brand”, although it is not an English name, it is easily recognized that Muji is from Japanese, which origin from a rich culture of high esteem and true quality that allows its identity shine without a brand name.

On the other hand, you can search on web or Google to see if there is any company name that similar to yours; and any websites that already registered with your company name; such that in a practical reason, you have to choose one over another.

Make it alive. Give meaning to your name!!

Don’t stop and satisfy with just the company name. Tidy up all your thoughts over the months to come up with one phase or one sentence enable a true expression of the meaning of your company name. It should starts like “XXXX is a company / firm that xxxxx” and this is extremely important as it functions like a lighthouse to remind yourself the original purpose of setting up this company.

Seek second opinion(s)

You are ready to tell your friend about your ambition start-up your own business and please do share your company name with them and see how they response? And the first thing pops-up in their head. If you have put good efforts on your work, you should be able to receive encouragements and some productive comments to further advance your thoughts.

Chill it out!!

After all the hard works, the company name with full of passion filled all over your heart and you think this is the prefect name. Try to give yourself a grace period, take a month break, and stop thinking about the company name. When you come back, and look at the company name, you should find a refresh feeling towards it. Ask yourself one more time:- Do I like it? Like to use it for the next 10, 15 or even 25 years for my business? If your answer is YES, congratulations, this IS the company name!!

Final words

Don’t make it wrong that I spent all nine months only thinking about how to name my company. Instead, during the process, I was trying to reassure that my aspiration to startup my own business is a right decision to make, and the business itself has its unique charm to win even undergoes huge competition.

In case you already have a ready-to-go business plan to make real money, don’t waste the time to come up with a perfect name, you can always change your company name later-on when needed. You can even create a brand name apart from your company name just like Coca Cola to facilitate the needs.

Remember, your energy should goes to developing strategies and transform them into executable business plan and actions that enable you to win customers.

Welcome your inputs to furnish this article and facilitate more entrepreneurs pursuing their dreams. Hope you all can landed with a company name that best suits yourself.


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