What is one of the most important success factors of a business? The name you choose. So how do you come up with a good business name? What is it exactly, that makes a business name successful? These questions often plague aspiring entrepreneurs and startups with countless sleepless nights and impetuous bouts of anxiety. You see, the name you assign to the game you play, will inevitably lay out the ground rules for you and your potential clients. So a bit of research and analysis is more than advisable if you want to avoid making costly mistakes.

The Importance of a Solid Business Name

Your business name isn’t just a hollow representation of your business activities. It’s so much more than that! Mainly because it’s also the connecting link between your personality as an entrepreneur, the services you offer and your clients and their needs. Your business name has many functions, each serving a separate role but combined, these functions collectively influence the potential of your business and your possibilities for success on a larger scale.

One of the most important things you should keep in mind is the mindset of your clients. After all, your clients are the ones who will be visually confronted with your business name, they are also the readers of everything else you post online and, with a bit of luck, in the end, your clients will be the ones responsible for financially supporting you by purchasing your products and/or services.

So when choosing a business name, think about the people who will provide your business with the means to survive. Don’t think about yourself; about what you want or don’t want. One of the biggest mistakes starting entrepreneurs make is turning the creation of their business name into a narcissistic self-adoration fest. Instead; try walking in your clients’ shoes for a bit and see if you can find out what they really need. Try to figure out a name that will offer a warm welcome, making clients feel safe and understood. Only then will they have sufficient interest in buying your goodies.

Your business name is supposed to excite customers, not bore them to death

Great business names are short, straightforward, to the point and clear. But also a little bit mysterious and alluring. A business name that generates success should capture the essence of what it is you do, in a way that will lure clients to you like the candy that lured Hansel and Gretel to the witches’ house. They should experience curiosity and a healthy feeling of anticipation when confronted with your business name.

So keep it short and imaginative. If you become too lengthy or descriptive, clients may feel mocked or feel like you underestimate their intelligence. Plus: long names really are boring. A fitting name should tell a story by itself, without having to use actual words. It should entice people to trust you, at least enough to keep their interest.

One last thing to consider

If you follow the above-mentioned guidelines, you should be able to come up with something that will work not for you but for your business. When you're ready to start work on the design, remember to use the same unique design across all media channels. This will benefit your brand’s distinguishability and lead to a sense of familiarity among your clients. A harmonized approach sends out a clear signal about you and what you have to offer.

A great business name has the power to capture your clients’ attention in a split second. Once you have that, you can capture their hearts by whatever it is you are selling them. This is the combination that makes every business successful. Try to be original and never stray too far from your own uniqueness.