It may seem like a simple step, but give it some serious thought. Here are
some important things to consider while you're trying to come up with the
Identify your business' attributes: Begin the naming
process by thinking about what you want your name to communicate. Consider who
your customers are and what problems you solve for them.
Be distinctive: You want a name that distinguishes you in
Avoid an overly specific name if you intend to change and
grow: If you plan on remaining in a narrow niche, you can be very
specific with your name. But what if you decide to add new products and
services? "Island Fruit" works fine until the business decides to
start selling cheese.
Make your name memorable
Make it simple to say and spell
For easier trademarking, go with a name that is fanciful or
Patent and Trademark Office (USPTO) categorizes names—ranging from
hardest to easiest to protect as trademarks—as "descriptive,
suggestive, arbitrary and fanciful."Descriptive names convey a
characteristic of the goods or services, such as "No Spot," for a car
wash. Suggestive names use a quality in the name, such as "At a Glance
Calendars." Even more distinctive are arbitrary names like Blue Diamond
Almonds. Fanciful names are made-up words, such as Kodak. These names can be
harder to market, but they give you more room to define your business.
Put it to the test: If you can't hire a marketing
agency to run a focus group for you, discuss your company's naming
possibilities with friends and family.
Consider registering the name as a trademark or
service mark. It's costly, but may be worth the trouble.