Thinking up a name for your business is one of the most gruelling and emotive things you will ever do!
“But surely getting that first big deal or hitting your first million is far greater!!!”
It’s true those things come with a massive high, but they are so short lived.
Your business name on the other hand lives with you every day. It affects every part of your business from picking up the phone to creating marketing material.
Get It Right!
Get it right and you will love it to bits (and gain confidence). Get it wrong and you will be groaning every time it’s mentioned (“Good morning. Cycology Bikes… no it’s spelt with a ‘C’ damn it”).
Ever since we learnt to talk, naming things has been our priority. We need clarity in life and naming hits the nail on the head.
“What’s that?”
“It’s the moon”
“Ah great. Thanks”
But on a personal level it becomes an obsession. When someone calls us by name it affects us on a deep emotional level. We feel noticed. And recognition is one of our core desires.
Solving The Business Name Problem
So, how do you solve the business name problem?
How important is a name when it comes to being successful?
That’s easy to answer. Take a look at this bit of research on Legendary Business Owners.
Also, this Wikipedia page shows a list of top companies named after their founders.
In most cases the founders have long since gone (kicked out, moved on, died or retired). Yet the name lives on and often more strongly.
So does a ‘personal’ name matter? Not really.
“But what about other names?”
There are just as many successful firms founded on random, arbitrary or meaningless names out there. Get inspired for ideas on name creation from this list. Are you a BAarry D ASSet management?
And The Final Solution
The simple 10 minutes or less stress free way to name your business without needing to worry about the future (too much) is to pick one of these templates and run with it:
- Your Name + Your Industry/Specialism/Niche
- Your Name + Your Town/County/Country/Continent
- Your Name + Industry + Town (if you run a local business with no expansion plans)
If you don’t like your name, change it by deed poll or pick a name you do like.
At the end of the day it’s not your name that matters, it’s how you position your business in the marketplace and how greatly you serve your customers.
Your reputation is built on those two things. And once established, whatever name you choose will become synonymous with how you do business – just as it has throughout history.
Serve well and Prosper.
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