Thoughts on Naming a New Business 

The business name is the brand and like any name given to a person, a lot of thought should be given to it. What is in a name? Shakespeare does not put much importance to names when he said: “A rose by any other name would smell as sweet”, but it is a different thing in business.

Part of the business establishment is devoted to thinking of an appropriate name for the business. It is part of the actual planning process, and most of the time, one is not allowed to go further with the plan unless a name is assigned to a business.

Guidelines on Naming a Business

• The name should stick. A business name should be easy to remember. This does not mean it is familiar, but it means that it is interesting and engaging enough that it sticks to the brain. Some customers discover new businesses by chance; either they pass by it on the road, find out about through advertisements or hear about it from friends and family. A name that sticks will have easy recall so even though they merely chanced upon it, they can refer back to it in their memory.
• It should be easy to spell. Trying to be too complicated is sometimes inappropriate, because you want the name to be easily understood, pronounced and spelled. You can keep it interesting and unique without having to defy the traditional use of letters and words. The likes of Google and MySpace, as well as all other business names that are on the spotlight today, did the right thing when they decided to choose a straightforward name that is spelt the way it is said.
• Use words that are familiar. A usual practice is to combine certain words that people are familiar with, as in the case of MySpace (“my” and “space”) or Starbucks (“star” and “”bucks”). You are introducing a new word by using words that already exist and you rely on the familiarity of the different words to work for your brand name.
• Stick with two syllables. This is not a strict rule, but what is being said here is to make it short and sweet. Two syllables are so much easier for people to remember. This may prove a little complicated when you start registering a domain name for your website, but with enough patience you will see things through. 

The name of the business is very important. Some business plans even begin with the establishment of a good and really, it is a good place to start.