What’s in a name, and how much does a business name matter? Quite a lot. Your business name influences first impressions, brand recognition, and ultimately the reputation you build over time.
When starting a new business, especially if you are still unknown in the market, your brand name becomes your first opportunity to introduce yourself to potential customers. But how do you choose the right name? How long should the process take? What research should you conduct before making a decision?
In the Philippines, many small businesses use names based on initials, first names, or surnames. Examples include businesses like “MML Pawnshop,” “Eddie’s Shoe Repair Shop,” or “De Guzman Eatery.” Sometimes these names are chosen quickly—perhaps when registering the business or installing signage for a sari-sari store. Other times, companies spend weeks working with branding agencies to develop the perfect identity.
Whether the name is chosen quickly or carefully planned, getting it right (or even amusing) can be the first step toward building a successful business.
If you are unsure how to choose a business name, the following ideas can help guide your decision.
Common Ways Brands Are Named
Before deciding on your own business name, it helps to understand how successful brands have created theirs.
Acronyms
Many well-known brands use acronyms made from initials. This approach is common among Filipino small businesses as well.
Examples include BBC (British Broadcasting Corporation), DKNY (Donna Karan New York), JBL (James Bullough Lansing), and ESPN (Entertainment and Sports Programming Network).
Word Combinations
Some brands combine two words related to their services or mission. This technique creates unique and memorable names.
Examples include Groupon, Facebook, FourSquare, TurboTax, Snapchat, PayPal, and DreamWorks.
Geographical Names
Some companies choose names associated with places or geography. These names often convey scale, heritage, or authenticity.
Amazon was named after the world’s largest river. Patagonia refers to a mountainous region in South America associated with outdoor adventure. Nokia was originally named after the Nokianvirta River in Finland, while Cisco was derived from San Francisco.
Mythology and Historical Characters
Mythological figures often symbolize power, victory, or excellence, making them attractive brand names.
Nike is named after the Greek goddess of victory. ASUS comes from Pegasus, the mythical winged horse. These names carry symbolic meaning that enhances brand identity.
Founder Names
Many companies are named after their founders. This approach adds a personal touch and emphasizes authenticity.
Examples include adidas (Adi Dassler), Dell (Michael Dell), Ralph Lauren, Martha Stewart, Honda (Soichiro Honda), and Miele (Carl Miele).
Professional firms often combine the names of partners. In the Philippines, examples include SGV (SyCip Gorres Velayo & Co.), Chan Robles & Associates, and Nicolas & De Vega.
Descriptive Names
Some businesses choose names that clearly describe their products or services. These names make it easier for customers to understand what the company does.
Examples include TripAdvisor, Pizza Hut, Toys “R” Us, Hotels.com, and YouSendIt.
Coined or Invented Names
Some companies create entirely new words as brand names. Although these names may not initially have meaning, they can become powerful brands over time.
Examples include Xerox, Verizon, and Kodak.
Tips for Choosing a Business Name
- Choose a name that sounds good. A strong brand name should be easy to pronounce and pleasant to hear. Short names with a few syllables are usually easier to remember. Alliteration can also make names memorable, such as Coca-Cola, Krispy Kreme, or Best Buy.
- Avoid trendy naming gimmicks. In the early days of the internet, companies often dropped letters or added unusual endings to secure domain names (such as Flickr, Tumblr, or Scribd). While creative, these trends can quickly become outdated.
- Make sure your name can be trademarked. Before finalizing a name, check whether it is already registered. Websites such as uspto.gov or Trademarkia can help you check trademark availability.
- Consider foreign words. If your preferred name is already taken, you may find similar meanings in other languages. Examples include Altavista (“high view” in Spanish) and Daewoo (“great house” in Korean).
Steps to Create Your Business Name
1. Define Your Brand Foundation
Start by identifying the key elements of your business. These may include your mission, target market, competitive advantage, and industry.
Ask yourself the following questions:
- What message should your business name communicate?
- Should the name be descriptive, creative, or abstract?
- How do competitors name their businesses?
- What emotions or perceptions should customers associate with your brand?
Answering these questions helps create guidelines for selecting the right name.
2. Brainstorm Name Ideas
Once you have a clear direction, start generating possible names. Use techniques such as mind mapping, word associations, and brainstorming sessions to create as many ideas as possible.
You may also use techniques such as brain dumping or explore brainstorming techniques to help spark creativity.
3. Take Time to Evaluate Your Options
Choosing a brand name should not be rushed. Review your list of ideas carefully and compare them against your brand guidelines.
Sometimes it helps to step away from the list for a day or two before revisiting it with a fresh perspective. Narrow down the options gradually until a few strong candidates remain.
4. Check Name Availability
Before making a final decision, confirm that your chosen name is available.
In the Philippines, you can search for registered companies through the SEC Company Registration System. It is also wise to check domain names, social media handles, and search engines to see if the name is already widely used.
Conclusion
Some entrepreneurs choose a business name quickly based on intuition. Others spend weeks or even months working with branding experts to find the perfect name.
While you may not have the luxury of a long branding process, it is still worth spending a few days carefully considering your options.
Your business name is the foundation of your brand identity. Choose wisely, and it can become a powerful asset that supports your business for many years to come.