What's In a Name: How to Create a Name for Your Business

February 21, 2019

1. Use Your Name, Sort Of..

Ah, the much despised topic of "What Shall We Call It? When starting a new business, sometimes you may only have an idea of what you want to do. You may only think about the services you want to provide or the impact that you want to have in your community. Then you decided you need a name to call it but become stumped. Trust, me I had the exact same experience when I first started.

I knew that my freelance work was great, but didn't have the same effect on a resume as if I did that same wotk for an agency. I solved that by making myself the agency😉 .

Problem solved right? Well, not so fast. In terms of naming my newly created agency, all I could think of was my name (Tania Cox). However I did NOT want that to be the name of my company.

So I switched it to Cox Tania (Last Name, First Name), and then, I only used the first 2 initials Co-Ta.

Cota, or CoTa Solutions was a much better and succinct way of saying that I work for myself.

Which brings me to an important point along the journey of entrepreneurship:

Don't be afraid to crown yourself a King or a Queen.

Yep, simple as that. Never be afraid to crown yourself. Take chances and take initiative to avoid stagnation.

2. Choose Something That Invokes Emotion with Others

This tip is very underrated but true. Remember, your name is all about marketability. If your name is not memorable because it has a dull name, no one will remember to patronize you. You want people to associate you and your brand with an emotional response because that psychological priming has an effect on consumer behavior.

If you think brands do not communicate things emotionally, think again. Compare your thoughts that you have of Walmart, to Target. Right off the bat I'm pretty sure you have feelings about both of these businesses.

Walmart = Low Prices (cheap) , Congested (cramped), Busy (get in and get out)

Target = Reasonable prices (value), Openess (space to browse the isles), Calm (spends too much time every time I go)

When someone brings up going to Target, it's like an adult field trip and even if i don't need anything, I want to go!

When someone brings up going to Walmart, it feels like a chore and I'd rather not bother.

People will start to associate emotions with your brand as well, and you want those emotions to be favorable. You can get this effort started off by communicating this in your initial branding initiatives with your logo and name choice.

3. Choose Something Unique, but Concise

One rule that we have in software design is this KISS rule. It is designed to keep engineers focused on the core functionalities of essential tasks. It helps us to avoid over-engineering a product or solution that no one actually wants.

KISS = KEEP IT SIMPLE STUPID

Your uniqueness is what makes you different. However don't choose something that is too obscure, or that can't be readily explained. You want your name to tell the story of what you will do for others, not the story of who you are as the owner.

Let me say that again, your name and story should be about how you can help others.

Not your biography.

Customers may bond to your story, but they don't actually care about you.

Customers, or consumers are actually more interested in what you can do for them.

What problem do you solve? What solutions do you present? Focus on this, and you will already be client facing and ready to meet the needs of people with an open pocket book.

If you need help with branding or a name for your company, Obstitunity is here to help! Get in touch with us today to see how we can help.

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