How to Name a Business

Although a great name won't save a failing business, it will help a good business communicate effectively to its customers.

Step 1: Identify the business Identify the qualities of your business that you want to communicate to your customers. Think about how you want your business to make your customers feel.
Step 2: Brainstorm Brainstorm words for your name with help from your friends and family. Browse through dictionaries, books, and magazines for inspiration.
TIP: Hire an ad agency to create new names and to help you navigate trademark law if creativity isn't your strong suit.
Step 3: Stick to real words Stick to real words. They are more relatable and easy to understand. But don't choose narrow words that confine your business, either.
Step 4: Add flair Add flair to your business name to make it memorable. Chose humorous or suggestive words.
TIP: Alter the spelling of a word to make it more memorable.
Step 5: Be different Be different from the rest. Don't select a name that is too similar to a competitor's name.
Step 6: Make it sound good Pick a name for your business that sounds good. Use words with qualities like alliteration or hard consonants.
Step 7: Trademark the name Protect your business name with a trademark. Consult a lawyer to find which trademark classification fits the needs of your business.
FACT: According to a 2006 survey of entrepreneurs, 42 percent said they started their first business during childhood.