Tips for finding the perfect business name

Robert Gerrish

The name you give your business can be extremely important; not just at the outset of a new enterprise, but as the business develops or diversifies.

Often the first impression of your business is made from its name; it’s a key ingredient of your identity and image. Cumbersome, self-serving, lengthy, or confusing names can impact on the success of your business by repelling your customers.

Finding a name that really fits your business can be difficult and time-consuming. In the process of developing business names certain actions make the exercise much more likely to succeed.

1.  Clarify your offerings

There's nothing worse than coming up with a name that two years into business no longer suits or reflects what you do. Get straight exactly what your business offers and how it's likely to develop. Write a very brief statement (30 words max.) and keep it in front of you; refer to it regularly throughout the naming process.

2. Keep it brief

You only have to follow the actions of the multinationals to see that many very expensive name changes are driven by a desire to shorten the length of a name. 

Dropping descriptors can be enormously helpful, as many are unwieldy and unnecessary. If you want to explain what you do, fine, just don’t make it part of the name.

Imagine you are the switchboard operator for a fictitious company - Paradise Removals, Deliveries and Storage Ltd. - consider which of these is easier to say and likely to be more memorable by the consumer:

“Hello, this is Paradise Removals, Deliveries and Storage, how may I help you?”

Or

“Hello, welcome to Paradise, how may I help you?”
A short name may have less communication content, but it has more communication impact since it will be easier to say and easier to remember. Consumers tend to shorten long company names anyway, so why not provide the shorter version in the first place?

3. Always consider the context

Where your name will be most commonly applied, seen and heard is another key consideration in the naming process and this can impact on the visual ‘stand out’ required.

The name may need to be on signs, vehicle livery and packaging in addition to the ‘normal’ communication materials of letterheads, compliment slips and business cards.

Clearly names have a big presence online and will therefore need to exist as a domain name.

An important consideration here is that multiple words are joined without a letter space, potentially causing names to appear clumsy and unpronounceable.

4. Be cautious when referring to a geographic location in your name.

Using a name with a specific geographic location can be unnecessarily restricting, particularly as your business grows. Unless a geographic marker is essential to your business it’s probably best avoided.

If you’re planning to trade internationally via the Internet, think globally from day one.

5. Don't die in a ditch trying to be totally original

If you're after a name that absolutely no one else has you may be searching unnecessarily for a long time. Concentrate on getting a name that's right and then look at how to make it your own.

Clever design and the use of colour can add your personality to a name. The addition of phrases or sub-titles can make accessible a name already in use by a non-related business. 'Whizzo' may not be available but 'Whizzo International' possibly is and clever typography can position 'International' as a secondary, almost invisible heading.

7. Keep your customers in mind

Finally, avoid clever names that people can't pronounce or spell. There are few business irritants worse than making your customers (or your receptionist) squirm every time they grapple with the name.

(Top of page)

 

More advice

• Read more practical advice on starting a business.

 

• Important information
  As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. All products mentioned on this web page are issued by the Commonwealth Bank of Australia; view our Financial Services Guide (PDF 59kb).