Business names are a crucial component of any company's success since branding can make or break a business.
According to statistics from the Bureau of Labor Statistics, as reported by Fundera, around 20% of small firms fail within the first year. While there might be many contributing factors to this, one of the key reasons is choosing the wrong name, which can lead to a branding nightmare across the digital and non-digital landscape.
So, it is crucial to choose a good name for your company. But how do you come up with good ideas for names? Here are seven easy ways to brainstorm business names.
Clear Your Mind by Performing a Word Dump
One approach is to simply clear your mind and write down whatever comes to mind, no matter how silly it may seem. This is known as a "word dump." The goal is not to come up with the perfect name immediately but to generate a list of potential candidates that you can then narrow down.
To perform a word dump, set a timer for five minutes, and then start writing down every word and phrase that comes to mind without stopping to edit or judge your ideas. Once the timer goes off, you can start reviewing your list and crossing off any names that are already taken or that don't fit with your brand.
With any luck, you'll find the perfect name for your business buried in your word dump.
Consider Trying Different Ways to Spell Words
When it comes to brainstorming business names, consider trying different ways to spell words. This can help to open up new possibilities and give you a fresh perspective on potential names. It can also help to create a unique name for your business.
If you are having trouble coming up with ideas, try using a thesaurus or looking up different ways to spell common words. You may be surprised at the results. So don't be afraid to get creative when brainstorming business names. Try different ways of spelling words and see where it takes you.
Refer to a Thesaurus
When starting a new business, choosing a name that will reflect the company's values and give customers a positive impression is important. However, coming up with an original and catchy name can be challenging. One way to brainstorm ideas is to consult a thesaurus. This resource can provide unexpected inspiration, helping you to come up with a unique name for your business.
You may find the perfect name for your company by exploring different word options. In addition, a thesaurus can also be helpful in coming up with a tagline or slogan that accurately reflects your brand. With a little creativity, a thesaurus can be an invaluable tool in the process of naming your business.
Harbor the Power of Mood Boards
A mood board is a powerful brainstorming tool that can help you generate ideas for business names. To create a mood board, start by gathering a variety of images that inspire you. These images can be anything from photographs to illustrations to quotes. Once you have a selection of images, try to identify common themes and keywords.
These themes and keywords can be used to generate potential business names. For example, if you are inspired by nature, you might consider names like Nature's Way or Garden Path. If strong women inspire you, you might consider names like She-CEO or Power House.
The possibilities are endless – so get creative and see what you can come up with!
Consider Incorporating Foreign Languages
When deciding on a name for a new business, many people limit themselves to English words. However, incorporating foreign language words into the name can give the business an air of sophistication and international appeal. For example, the French word for "Wine" is "vin." Adding this to the name of a wine shop would instantly make it more exciting and unique.
Similarly, the German word for "coffee" is "Kaffee." Using this word in the name of a coffee shop would make it stand out from the competition. Of course, it's important to make sure that the meaning of the foreign language word is appropriate for the business.
But incorporating foreign languages can be a great way to add interest and appeal to a business name.
Take a Break
Taking a break from the mundane task of coming up with ideas is important and allows your creative juices to flow freely. This can be done by simply stepping away from your desk or workspace for a few minutes, taking a walk, or even just sitting in silence and letting your mind wander.
The key is to clear your mind of all distractions so that you can focus solely on coming up with a great name for your company. Then, once you've taken some time to relax and recharge, you'll be surprised at how much easier it is to come up with creative and catchy business names.
Hold a Focus Group or Get Family and Friend's Opinions
Deciding on a name for your business can be one of the most important and challenging aspects of starting a new venture. After all, the name will be one of the first things potential customers will see, and it will shape their initial impression of the business. With so much riding on the choice of name, it's important to take the time to choose carefully. One way to brainstorm business names is to hold a focus group.
This can give you valuable insights into how potential customers react to different names and help you to narrow down your choices. Another option is to seek the opinions of family and friends. While their feedback may not be as objective as that of a focus group, they can still offer helpful suggestions.
Ultimately, choosing a business name is an important decision that should not be taken lightly. However, by exploring all your options, you can ensure that you choose a name that will help your business succeed.
Choosing a business name is an important decision that can be challenging. However, several brainstorming techniques can help make the process easier. These include holding a focus group, incorporating foreign languages, taking a break, and using a mood board. By exploring all your options, you can ensure that you choose a name that will help your business succeed.