The dilemma of choosing a name for your business is quite an imperative. The name has to be just the right one and it must also convey the meaning that you want to convey when people invoke your company’s name wherever and whenever. The right name can make your reputation or brand or it can end it even before your business takes off the ground. It should convey, in essence, what your products and services are, and should have people coming to your business.
There aren’t a definitive rule book to select what names will be the best fit for your company, and there are a lot of ways one can name their companies. One of the ways is to have the name be something abstract so that the audience is given the key to creating the image or meaning of the company’s name – something like Microsoft. Another option is the one discussed in the first paragraph, to create a name that will represent the products and services that you are offering. The other way to name a company would be to have it be a made up word so that it feel novel and fresh, or it may not and end up being a distasteful joke. Any name might work, when it is coupled with an effective marketing strategy that will put the company on the map.
If your company is really a sort of company whose name will have serious consequences on the fate of the business operations, then it is better if you were to hire a professional naming expert who will be able to give you that perfect name that will propel your company forward. But if you were to avail their services, then you will have to pay a hefty price for they do not give out their creative power for a meager amount, but if the name of a company is of tremendous significance then it might be worth investing your money in creating that ideal name.
Here are some rules of thumb:
• Your Name should reflect your core values or business interests. In order to what they are, it is suggested that you first select the niche that you want to do business in and then you conceive your mission statement, from these tenets you can derive a name that will be compatible.
• Give priority to real words over words that area fabricated for stylistic purposes – words which are created so that it would be in sync with the times or would sound pleasant and cool. This could be a hit or miss things, but when company words are real words instead, more people would come to relate to that company and hence would be attracted by it.
• Don’t be too specific when trying to name your company. If you had named your company, “Dubai Fridge Producers”, you would’ve effectively restricted yourself to a specific geographic region and to a single product, thus curtailing your chances to expanding to other regions or products significantly.
Now, here are some more tips that you can consider before arriving at a potential name:
1. The name should not only appeal to you but also to the demographic that you’ve decided to target.
2. The names should be a pleasant one and something that will bring about warm memories into the minds of the audience who wants to hear it.
3. Do not produce a long name that is hard to pronounce.
4. Do not let the name be a pun that will not be understood by everyone.
5. Do not let the company have a suffix of “Inc.”, unless of course that your company is actually incorporated.
Though these are some of the ways you can name your company, and these points will give you certain guidelines, do not let your creativity be stifled because of them, but instead use them as certain checks while you are trying to make your company setup in Dubai into a success. Here are some creative ways to name your company and many more precautions to take before finalizing.