How to name a new business

Have you struggled to decide on a business name?

The reason why you’re struggling is because you’re uncertain if you’ll like it

And of course if the market will like it

And if it’ll stand the test of time

All these are valid concerns…

Well, after founding over 10 companies

I can tell you exactly how to do it

How to name your company that is

But it’s not what you thought.

Here are my top two tips for naming a new business plus a bonus sample on how I did it recently. (Not saying this is the best way, but I can guarantee it’s better than how you’ve done it so far.)

1. The name has to resonate with you: the name of the business has to resonate with you. The reason why is because you have to live with it. You have to grow it. It has to be somewhat attractive to you over the long haul.

2. The name has to resonate with your ideal customers. Do you even know who your ideal customers are? Well, your business name must be catchy to them. Stop being a selfish idiot and naming your business after your name or what you want it to be called. People buy from marketable names and I can promise you that you’ll save a lot in advertising and marketing over the long haul if you don’t try to force a stupid name.

I digress.

Bonus: recently I started a new business

This business is particularly focused on those age 25-34 and this customer is likely American.

So I used Shopify name generator to come up with catchy names with the words I knew I for sure wanted included.

I came up with five sample names that I liked that resonated with me.

Then I took to Facebook to advertise the names.

My ads were fixed in everything except one variable.

I changed the name for each of them.

My assumption is that the highest clicks will be a) cheaper to market and b) more sticky to my ideal customers.

After testing five names, one stuck out as a clear winner as pay-per-click was cheapest and had the most attention by a long shot.

My company is now named that for less than $300 I found a name I like that my customer also like. Besides, I drove all this traffic to a landing page to collect emails so it wasn’t a complete loss of cash.

So… in conclusion,

Test names as you go and come up with the perfect business name.

That’s it.

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