Many business owners don’t realize just how important the name of their company is. Choosing the right name can make or break the company right from the start. A company that has a great name is more likely to attract more customers and drive more sales. In an ideal world, the perfect company name is able to project your company’s values and the uniqueness of your products and services onto the potential customers.

Luckily, thanks to the power of marketing, any name can prove to be effective. However, don’t take this as a means to skip the naming process altogether and settle for something bland. Here are a few things to consider when trying to name your business.

Hire An Expert

Creating the best name for your company can be a complex process. In most cases, it is recommended to hire or at least consult with an expert. Why? Because their expertise may prove to be more useful than you think. It’s not just about creating the best name for your company. It’s also about creating a name that would fit the niche and its potential consumers. Moreover, as time goes by and more companies are created, name trademarks could become a problem. An expert will be aware of all the current trademark laws and would be able to create a law-abiding name.

However, as with all professional services, hiring an expert to create your company’s name will cost you. Although prices may vary between different areas of the UK, you can expect to be charged anywhere between £50 and £50,000. Depending on your own products and services, you may not need to spend a small fortune, but you should always be prepared. Having a catchy name from the start will not only save but also earn you a lot of money over the years.

Use Your Creativity

Taking matters into your own hands requires a touch of creativity. Thanks to the multitude of company names that are already trademarked, finding an original name could be a lengthy quest. Many current company names, such as Microsoft, Citibank, Paypal, TrafficBox or Rapid Formations are all portmanteaus. Combinations of two words that perfectly represent the company’ services. You could use this linguistic blend to your advantage or you could opt for a different style.

Another solution for a company name could be the use of a new spelling of an already-existing word. Think Dunkin Donuts, Chick-fil-A or Froot Loops. Each brand name is basically a variation of an already existing word or group of words.

There are many more examples but the message is clear: be creative and don’t over-complicate things. When trying to design your own company’s name, your creative process should follow a few simple guidelines:

1.    Choose an appealing name for both you and the customers in your niche. Studying your competition could also help in this case

2.    Keep it short. The longer the name, the more likely you are to bore and lose your potential customer. The vast majority of the world’s most popular brands have 10 or less words in their name

3.    Keep the name formal. There’s no need for comedic touches when creating a brand name.

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