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How to Choose Your Company's Name?

18. March 2009 03:34 by Scott in   //  Tags: ,   //   Comments (0)

What really is in a company name?  Here I sit like a bird in the wilderness trying to name a start up company that I am ready to push out on the web.  I have come up with various names that would hopefully sell my product just by a catchy name.  But alas, all the names I have currently come up with have been taken on the web and would have been great.  All the names have poorly built websites which look like they were built back in the beginning of the internet.  So in a fell swoop, I decided to write down the best ways to name a startup.

The First idea would be to use the Two-Part Rule. Take the company PayPal.  If you split the name up, you have the words "Pay" and "Pal".  Pay is the literal sense of paying someone.  Pal is like your friend.  It describes something positive.  Our minds are built to make connections, to group information very fast subconsciously.  When a metaphor is found our brain associates it with the next object or reference.  This type of name subconsciously creates a positive forming of the brand and therefore is a woven connection with the name.

Taken by pedrosimoes7

The Second idea would be to use the two syllable rule.  Many companies like Wal-Mart, Best Buy and other companies have only two syllables in their names.  This in turn allows the brain to remember only two syllables that make sense.  The two syllables work extremely well when trying to put it into action.  Look at twitter.  Some one says im going to twitter it. As well as with the company like Google.  Go Google it.  People don't say go Microsoft it.  People subconsciously don't like saying more than 2 syllables when speaking.  Try it your self and try to put an action to a company that has three syllables or more.

The Third idea would be a play on words to link to an important or well known word.  Yahoo(YaHoo!), Google (googol), Micro-Soft (Micro - Software), Wal-Mart (Sam Walton - Market), Intel (Intelligent).  These names don't have to be actionable or even the two part rule idea.  They just have to click well. If they are a new word, then they need to play off another word or phrase.  If they are an old word, then they need to show excitement and cannot be dull.

In trying to find a name for my start up company, I have been using the first and second ideas, but not the third because I am not that creative.  I do imagine if I started to use the third idea, I have a lot more company names to choose from.  But as of now, I still do not have a name to come up with.

EDIT: At this moment due to trying to keep my idea private, I will keep the names I have thought of private.  I will release the names soon, just not yet.

Thanks for listening.

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