Select Page

How to Successfully Name Your Business, Product or Service

This one step in building your business has caused more migraines and sleepless nights than just about any other stage. When you are naming your business or new products or services, we all know how important it is to get it just right. That we choose a name that helps build our brand and is easily remembered and identifiable. That easily and quickly conveys to our audience why they need it, now! There are five key steps in successfully naming your business, product, or service with one important exception and they are as follows.
When naming your business, product, or service you need to convey clearly what the product is and what the results your customer will experience after they use your business, product, or service. The one exception is when YOU are the brand, such as a designer or public figure. For the entrepreneur or small business owner, your life is about to get much easier. These five steps are your gateway to great nights sleep tonight!
  • Keep the name short and easy to remember. Ideally, that would be no more than two words. I have heard it recommended trying to use the same first letter in each word to make it easier for your customer to remember. Though there is some merit in this advice, I personally have found it difficult to achieve successfully. Let’s try these four steps instead.

 

  • List three ideas based on the products or services you plan to provide (e.g., children’s clothing, personal chef, organic products, etc.):

 

  • List three ideas based on your special niche (e.g., affordable children’s special occasion clothes, special needs or kosher diet chef, organic products for the bed and bath industries):

 

  • List three urgent needs of your potential customer base that are not currently being met.

 

  • List three ideas combining a favorite theme with your special niche: (e.g., Tea Party children’s party clothes, Table for Two kosher meals, The Serenity Swan organic bed and bath products):
Now finally, using the three ideas of your products and services in your niche market and a favorite theme, what will be the experience your particular customer or client will enjoy after using your product or service? After you’ve decided which name you like best, ask yourself a few important questions:

  • Have you said it aloud to make sure it’s easily understood and pronounced? (Has it passed muster with others? Have a friend call to see how it sounds over the phone
  • Have you checked your local business listings to make sure the same or a similar name is not already listed?
  • Have you checked with your local business authority to make sure the name is available?
  • Have you started your trademark search?

 

A fairly easy way you can do this yourself is simply to do a search online.  Then check with your local business license office.  Often times you can also do a search online using their website and data base.  It is also a good way later on to see if anyone one else is using your name or something close to it that might be causing customer confusion.
My favorite naming technique that I have found to achieve the best results is to take a counterintuitive approach.  As an example, Choosing Your Destiny as my book title was very successful.  Why…  Most people think of your destiny as being pre-ordained and not including many alternatives.  Being able to choose your destiny is counterintuitive and therefore, intriguing which makes it easier for my customer and reader to remember. This brings me to my last point.

If you can invoke an emotional response in your customer when they see or hear your business, products, or services name, such as causing a feeling of curiosity or intrigue as we just discussed, you have achieved the holy grail of branding.  Invoking an emotional response, preferably positive, will achieve all your goals in successfully naming your business, product, or service.

Have a comment or question about this week’s post? Let us hear from you! Post your own success stories or ask a question about how to move your own business forward to success! We love hearing from you and read every post personally! You can join the fun on our Twitter Chat and share your own success tips! If you are looking for more practical hands-on help we have two other resources for you. First, we have created an actual Small Business Toolkit for small business owners just like you to help you start and grow your own successful business and meet today’s challenges head-on with confidence. You can find yours right here. 

If you scroll down just a bit further I also have a collection of more success tips. Just click on any of the links. If you have a question about your business please feel free to Contact Us and send a personal message. We love hearing from you and will respond just as quickly as we can.