The Types Of Issues Should We Keep In Mind When Picking A Name For Our Business?

Sometimes when spending hours, or days, even weeks to finalize your business name, you are still struggling with several unexpected issues. If you are currently in that case and have not found out the appropriate answer yet, we would like to show some common mistakes that many businesses can make during the naming process, and possible solutions to those problems. 

Using too vague or generic company names.

Consider how your organization can change with time, and ensure that the company name will evolve with it. If you call your business iPhone Accessories and then broaden to offer accessories for other devices, your original name would be too limited and restricting.

And if the company offers a specialty product, the same recommendation holds. If you sell an antique collection including coins, statues, lamps, for example, you should wonder whether you could sell more of them in the future. When you later start selling antique clocks and furniture, naming your company like Antique Lamps can be too restricting and hard to open for more business categories in the near future. Get to know your core business and decide a suitable name with the development process of your company.

Avoid using terms that have little or minimal meaning.

Plain words cause it impossible to distinguish the company from its rivals. When we first considered the term "crowdspring," there were hundreds of thousands of logo design companies all around the world. We knew we'd be spreading into a variety of fields (graphic design, web design, industrial design, publishing, and but on), so we didn't want to call our company Great Logo Design – it would have been descriptive, just not iconic or distinctive enough.

Implementing obscure words inside the business - a common mistake

Company names that aid in the telling of stories may be both strong and memorable (think about Facebook, or Amazon, for example). Obscure terms or references, on the other hand, can be difficult to spell or pronounce. Be particularly cautious if you're attempting to target a large number of people (such as on the Internet). Obscure or fabricated titles can succeed – Xerox is a good example – but they also necessitate a large ad campaign and a lot of work.

Applying the "committee" of the decision-making process

We are living in a democracy, so including others (friends, families, colleagues, and clients) in a significant decision seems like the best thing to do. This technique, however, has a few drawbacks. The first and most apparent fact is that you'll end up selecting just one name, risking alienating the same people you're attempting to include. Second, you'll often arrive at a majority conclusion, which results in a very secure, very vanilla name.

A simpler approach is to include only the main decision-makers – the less the better – and to choose only those that you believe have the best interests of the business in mind. The need for personal attention will distort outcomes, but anyone who can leave their egos at the door will be well served. Make sure you have any right-brain forms in the mix as well. If you bring in so many left brains, your name would most likely become overly literal and descriptive.

Naming your business after a map or geographical area

Many companies, in their eagerness to launch a new venture, prefer to incorporate their city, state, or area into their company name. While this can be beneficial at the beginning, it frequently becomes a hindrance as an organization progresses. One customer complained to me that he was representing a larger portion of the business than his name suggested. Since he was from St. Petersburg, Fla., he called his company St. Pete Plumbing. Customers using the Yellow Pages, on the other hand, believed it was indeed his entire business area. We changed the picture of St. Pete from a city to St. Peter himself, complete with wings and a plumber's wrench, with a little imaginative tinkering. "We perform miracles!" says the current tagline.