What’s In a Name?

August 25, 2014 Brian Beattie

One of the most difficult elements of starting a business (or going through a rebranding process) is choosing a business name. There are many factors which should be considered when trying to find the perfect name for a business. At Volaris, we have experience helping some of our acquisitions choose names which boost the brand and clearly reflect their overall image. Here are some tips to keep top of mind when making the difficult choice of choosing a business name:

1. Keep it simple

Try to choose a name which is not too complex. You want to ensure that customers can pronounce and understand your name. However, that is not to say that all names have to have an obvious meaning. For example, Google obtained their name inspiration from a misspelling of the word “googol” - the number 1 followed by 100 zeroes. In reality, the name “Google” is not a word at all, but an extremely successful brand.

2. Develop words into a brand

Choose a name which you feel proud have as the headline of your brand and remember to do adequate research. For example, what connotations does the proposed name have for possible customers? Are there other businesses with similar names? How customers react to the business name can have a large influence on your company’s success.

3. Avoid the tried and true

Try to differentiate yourself from your competitors. For example, if your competitors frequently use Latin based business names, try to separate yourself from the crowd with a different kind of name. Marrying simplicity and uniqueness is an important balance when creating a company name; you want your name to be easy to understand, but you also want it to be unlike those of your competitors.

4. Check the domain availability

Many companies make the mistake of working hard to create and choose a company name, only to find that it is already in use. Use domain servers when brainstorming to see if your name is truly original, and to see if the website URL is available. Remember to protect your name with a trademark, and to register your new business name early on before it’s taken. 

5. Develop the visual elements

Develop a visual identity for your new name. Creating the visual elements, including a logo will largely impact how your brand is perceived. How the business’ name appears not only in print but also on the web is important to think about when choosing a name.

Your Turn
Did you have difficulty picking a business name? What elements were most important when making the decision? Let us know in the comments below and like and share with us on LinkedIn, Facebook, and Twitter. 

About the Author

Brian Beattie

Brian Beattie is the Chief Financial Officer at Volaris Group. Besides overseeing the financial health of the company, he works closely with Volaris’ legal and M&A team on all new acquisitions. Brian is an expert on every stage of the M&A process – from sending out the non-disclosure agreement to executing the sales purchase agreement.

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