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You’re trying to think of a cool business name, but you’re stuck. The name you have isn’t working anymore, or you’re opening a whole new business. Over the last ten years, I’ve helped countless entrepreneurs come up with their logos and websites, so naturally, I’ve also helped them come up with awesome business names.
Today, we’ll shed some light on why you need to change your business name, when is it a good time to change your business name, and a few tips and tricks to help you come up with an awesome name.
First, it’s important to understand that name changes happen a lot. Maybe you recently bought a business from someone else, or your original business name is no longer culturally relevant. Maybe you want to attract a new target market. These are all good reasons to change the name of your business.
When it’s time for a change, the first thing we do is sit down for a naming strategy session. We’ll go through a list of questions with you, such as what benefits will you offer to the consumer? How different are you from your competitors? What makes you unique.
From there, we start brainstorming some names for your company. We’ll look at things like your location or descriptions of a certain product or service that you offer. After we have a complete list of potential names, we’ll send out a survey to your customers, Facebook friends, or similar group. We can also conduct a focus group among customers or employees in order to determine which names stand out and which won’t work for the business.
Now that we have the data from the survey and/or the focus group, we’ll run through a final checklist. Is the name memorable? Is it easy to pronounce? Are there any negative cultural connotations to the name? What do we think about it overall? We consider it all.
For example, prior to the rise of terrorist groups, a lot of companies were named ISIS for different reasons. These companies are getting vandalized, so many of them chose to change their name. If this terrorist group had not existed, they could have kept the name. You have to pay attention to cultural cues when naming your business or deciding when to rename your business!
Finally, we do some trademark research to make sure the name isn’t taken. Recently, we were working with a client and we came up with an awesome name only to discover that the name had already been trademarked. It’s a bummer, but it’s something you have to watch out for when naming your business.
When we were naming the Creative Complex, my two partners and I wanted to form a cool company that did awesome creative work for people. We wanted to attract creatives to our business, and we wanted clients to know that we were a creative company. We envisioned this fun space with ping pong tables and a bunch of creative people gathered together, like an apartment complex. That led us to the name Creative Complex, and it is the exact name we needed for our company!
If you have any questions about today’s video or need any help with your own business name, just give me a call or send me an email. I would be happy to help you!