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How can you come up with company name ideas?

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Quick Answer

The ideal company name should be unique, simple and convey information about the company's product or purpose to the customer, according to Entrepreneur. The name should also be in line with the company's overall marketing scheme.

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Full Answer

Before brainstorming names for a company, evaluate the values and direction you expect the company to take. Many businesses are established solely to generate profit. A business of this type should choose a name that accurately reflects its products or services. This type of business benefits most from a straightforward name derived from a real word. Customers should find it obvious why a profit-focused business chose its name.

Some businesses focus more on making a positive impact on the world than on profit. The ideal name for such a business both reflects its humanitarian mission and its actual products. Again, business names based on real words tend to be more effective in conveying a message than names derived from imaginary words or the owner's name.

Other considerations when choosing a company name include competition, length and distinction. Research the names of competitors to avoid choosing a similar name. Furthermore, the ideal company name should be short, no more than three or four words. Additionally, a name should be distinct enough that customers can easily remember it. Finding the balance between a distinct name and a descriptive name is one of the most important aspects of choosing a company name.

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