A Personal and Business Perspective
There are still questions such as “what’s in a name” when deciding on a name for one’s business or solution? Whether it’s a child, a bride, or a new venture, naming is a deeply personal matter and important for your business.
From a personal perspective, a name represents our aspirations, experiences, and motivations. When we named our agency, we chose a name that symbolises our future and our unwavering ambition to grow.
Factors to consider:
However, there are other factors to consider when naming a new business, despite the common advice to avoid emotional attachment to startups.
In our research, we found that naming strategies typically fall into two categories: creative or practical.
We found that, it’s important to think about the impression you want to leave on your target audience.
Choosing a name involves weighing the benefits of a creative name that stands out versus a practical name that is easier to understand and remember.
Here are some examples:
**Businesswomen’s Association of South Africa** (Practical)
**Lift airline** (Creative)
When choosing a name for your business, consider the following:
- Is it memorable and distinctive?
- Can customers easily understand what your business is about from the name alone?
- Will the name support your growth potential, as demonstrated by the brands like Woolworths/Pick n Pay?
- Will it allow you to price your solutions correctly
- Will it attract the clientele you are after
When selecting a name for your brand, it should align with your brand identity and business goals. A meaningful and successful name is important. Feedback from others and careful consideration can help make the right choice between a creative or practical name.