What is your advice on choosing a company name?
I originally registered my company under a name that I no longer use or describes my core offerings. Things are going well so I want to scale my business, but first I need to come up with a different name and re-register my company.
So here are my thoughts:
1. I pick up a new name that is related to my industry and is easy for people to recognize what I do and sounds professional.
2. I pick up a name that has nothing to do with my industry so I am not limited to what I can sell and in case I want to start a new business in the future. Then I just have different brands for each product line.
Please kindly leave your thoughts about the name picking.
Ditch the idea of creating a name that means nothing; you aren’t spending tens of millions with branding. UBER, KODAK, ENRON shouldn’t be a reference in any way.
Make it simple – What is it that you do? Incorporate the word into your name and don’t make people think; “I wonder what they do?” If it's not evident, most people move on without a second thought.
Mindmap it – start with a few clusters and just brainstorm - make have a few bubbles such as product driven, service related, geography-based, professional, fun, and so on. When you are done, save it and come back the next day or in a few days, reread it and I’ll bet something will jump out at you, or you will have more ideas to add. (MindJet MindManager has helped me with many projects like this).
When it comes to a dot.com address, you may have to be creative, but skip the underscores and creative use of numbers and misspellings.
Some of the best names are those that are easy to remember. Many big brands have something in common, they have two syllables. UBER, GOOGLE, YAHOO, FACEBOOK, YOUTUBE, and the list goes on.
My best recommendation would be to follow suit and try to think of something easy to remember that resonates. A well-rounded brand name is definitely advisable from our end.
We're current rebranding soon and one of our goals is to make our name easier. Thus we're looking at changing "Larsen Jewellery" to just "Larsen" as our customers also refer to us as Larsen and not our full business title. So it makes sense. But then we will have to change our domain name https://www.larsenjewellery.com.au to the same but without jewellry and someone already owns that.
So the warning is, while you can if you must rebrand down the line, it is definitely better to get it right from the get-go.
I hope this helps and we would love to know what you ended up choosing?
Any business start-up is like giving birth to a child: we involve the best sources to lift it up. A special name is the first step and here is the first challenge – do not overplay with originality; your business like your child should live with this name for the rest of life. For me, this thought became the starting point for making the choice. It focused my attention on the following.
THE NAME SHOULD BE:
Business is the way of self-representation. There are the reasons why you chose the taken segment, for sure you have aspirations and ambitions – just appeal to them and try to bring them into word form.
Imagine the future advertising message of your company. Do you like it? Create a project made by pencil and show it to the people of diverse age categories – is it clear and easy to perceive? Such projecting will reveal you the possible gaps between the company name and the desired future positioning.
Your company name should sound equally actual today and 50 years later. Do not choose the narrowly pointed name referring to temporary or unstable phenomena.
NOTICEABLE AND MEMORABLE
It should catch attention and make everyone think about your company and its products just hearing this name? Exploit the human associative thinking, do not be afraid of negative associations, but vice versa, create the space for them since so-called ‘black PR’ is often extremely effective.
Marketing Manager at GSDiamonds
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When it comes to choosing the name of the company, sticking to the convention is advisable. Choose a name that gives a rough idea of what your company is all about. At the same time, it should be catchy enough to grab the attention of the target audience.
I would be precise...
1) Easy to remember
2) No spelling confusions
5) Represents your line of business or nature of the business
6) Can you register it as a trademark?
In your case, you need to decide if you are really going to add a new line of business within the existing company. Well, in that case, you may come up with a generic sounding name or something that at least depicts the nature of your business.
Victoria Group seems like a vague choice considering the modern naming considerations and sends a signal that your organization has a traditional mindset. If that's what you want this to reflect, you should go ahead with this.
Personally, I feel business should be focused on niche segments. For example, I name our business all unique... E.g.
1) Tutorcity - this is a tutor matching portal
2) ConsultEase LLP - Consulting services marketplace at https://www.consultease.com
3) VOCSO Technologies Pvt Ltd - Web/App/SEO company at https://www.vocso.com
One more thing that you need to understand, with your second approach, it will take a little more effort and money to brand your business in relevant niches as it does not directly reflect its nature or line of business. Hence extra time, effort and money to be spent. This, however, comes as a perk of choosing a relevant name as you indicated in your first option.
Hope this helps.
How about I just call it Victoria Organization?
The site will be www.Victoria.com and when my enterprise becomes big and successful, I will make my name famous.
It has to be easily remembered. Something catchy. But, of course, it depends on the industry and its rules. I know that it is recommended to discuss on forums. Create a list of the names that you like and ask advice from people, preferably in your niche.
If it is an online business, Google search for your name. The search will give you what's already there. You may like the name, but what if the competition is way too high? It will be pretty hard to make it to the first place with your branded keyword.