How to Find a Great Company Name

A great company name is one of the most important decisions that you'll make as a business owner. Your brand name is an intangible asset that should be seen as an investment.

The right name can make the difference between success and failure of your firm. Take your time name is considered to be an asset and should be chosen with a lot of care if it is to contribute to the positive image of the business.

The naming experts at Webrics have identified five key elements of a cool and catchy company name.

1. Short Names Rule. The fewer characters your name has, the easier it will be for your customers to remember. The primary goal of your name is to clearly convey the essence of soul of your company, names that are shorter in length have an increased propensity to stick in the mind of your customers. Short names like Skype, Nest, IBM, are easier to remember than names with many more characters.

2. Consider Vocalization. When deciding on the right name for your business, think about how the name sounds when it is said out loud.  You want a name with a smooth cadence that is both easy to pronounce and easy to vocalize.

3. Look for Names With "Personality." Your company name should capture the energy and personality of your firm. Each letter has a sound that evokes a different reaction. Some letters like "R," "D" and "P" are more masculine and letters "I," "Q" and "U" are more feminine. You'll want to pick a name with the vocalization that meets the strategic needs of your company.

4. Don't Pick a "Me Too" Company Name. In most industries companies tend to gravitate towards similar name types. Think outside the proverbial box avoiding a name that mimics competitors in your market. Focus on your technology, systems, processes, innovation, service and other factors that differentiate your firm and build a name that evokes an element of your competitive advantage.

5. Select a Name That Connects With Your Customer Base. You want a name that grabs the attention of your target market. Your name should clearly represent the character and vision of your business and connect that to the underlying needs of your consumer. Look for keywords that are unique, interesting and connect to your audience.