KATHMANDU: Selecting a name for a business is not easy as it does more than just identify your company. It tells customers who you are and what you do.
If you do it right, your business name differentiates you from your peers, peaks customer interest, and invites further investigation.
“I wanted a name that was Sanskrit but with a modern twist,” says Harshawardhan Shahani, managing director and CEO of V-chitra, an advertising agency, explaining the unique name of his company. “In Sanskrit, ‘Bichitra’ means something different. While this was different enough, what made it more interesting was the way it was spelt. V-chitra is spelt using the initial of my parents’ names — a tribute to them for where I am today.”
While choosing a business name, ask yourself if you want to fit in or stand out? Some businesses are so concerned about gaining credibility, they will sacrifice an attention-getting name.
“Today, names stand for values and symbolise the inherent traits of an organisation, a product or a service. An off-beat name cuts across the monotony of thousands of similar sounding names and tends to stick in your mind,”
Ravi Aryal, executive
director of U-Turn, a marketing agency says, “The name of our company reflects the choice to do something different and break the conventional thought process in the field of marketing.”
While a clever and appropriate name can increase your fan base, choosing an unoriginal, dull name communicates a lack of enthusiasm towards the new business venture. A strong name should also be simple and meaningful to the audience, not just you. Any time you have to explain your name or apologise for it, you are just devaluing your brand. It would be wise to choose short and punchy names that will not be easily forgotten by consumers.
During the brainstorming process, allow plenty of time — at least a week — between the brainstorm and the decision to really mull over the options. Even when you find good names, it is import-ant to continue brainstorming. If the name sticks in yours, it will probably stick in your customers’ minds too. In the end, the business name should reflect your identity. “The bottom line is that the name has to deliver what it promises,” Shahani states.
A good name will never save a bad company. But the right name can make a huge difference. “A name should reflect the identity of the company, the founders and the uniqueness of the company’s vision. Proper business strategy would certainly work, but it
is better if the name complements the personality of the company,” says Aryal. Ultimately, the best names sub-consciously convey a feeling, highlighting a company’s or product’s strengths.