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Best Strategy For Naming a Business?

TheodoreA

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Hello Fastlaners, looking for a bit of advice!

I'm currently in the process of starting a drinks company consisting of drinks that enhance performance, boost immunity, and improve cognitive ability, but consisting of completely natural and organic ingredients.

I have my formulas created and have a manufacturing process in place, but I am currently really struggling with a name!

How do you suggest coming up with a business name? I've tried to find related words, or putting words together but can't find a name that fits right? Any ideas?

Thank you!
 
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inputchip

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It depends on if you are naming the main product the same as the brand. But here are some suggestions:

Start with list of things a prospective customer wants, and wants to avoid. What are they seeking, what are they avoiding? What are they imagining that would be bad, what would be good?

Find a word that communicates what it is that they want or want to avoid, but that also has a lot of emotional value or that is otherwise really powerful to your ideal customer.

If possible, try to add more words that add rhyming or alliteration or repetitive sound. YouTube, GooGle, PayPal, TwiTTer

Look for words that have a lot of unconscious associations to what you’re trying to do.

Look for words that are well known, but not used that often. Eg, accelerate (high testosterone, what thoughts come to mind? (Momentum, movement) Amazon (giant ecosystem).
 
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JAJT

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There's no hard and fast rules but I'd suggest that whatever you choose, you can get the domain and social accounts for it.

Use something like Namechk | Username, Domain & Trademark Search to check this stuff in seconds.

When I was naming my company I got stuck on this step because everything I loved ended up already being taken by someone else. I wanted something unique. It took about a week but I got past it.

Just don't get stuck on this step. It took me a week to name my business and I was really angry that it even took that long. Pick something, check it, and get going - names can always be changed if needed.
 

Andy Black

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Grahamj

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I've never had a food product, but I've always picked a name that was unique but still related to my business. I like what has been said above about making it something the customers would be looking for. Maybe a play on the purpose of the drink or a key ingredient that customers are searching for. I'm horrible at naming and it always takes me too long. I got lucky in my current business and it only took me about 2 hours. But this has seriously challenged me in the past because I try to make it perfect..
 

Dan_Fastlane

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ThirtyOne

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@ThirtyOne has a thread somewhere.

It's here: A rose by another name might smell like crap

However, here are "the exact steps";) I'd take to start, @TheodoreA :

1) Select a "start up" name as @Andy Black calls it. This is any short name that you can use to get started and move ahead in your business. You can change it later.

2) When it’s the right time, create a naming brief. Put simply, this is just a set of strategic creative guidelines. A brief will include who your target audience is, a little about their lifestyle and buying habits, what the product's USP/value add is, and how you hope your brand and product to be perceived by your target.

I won't spend too much time on it here, but you've already got part of the brief started.

"drinks company consisting of drinks that enhance performance, boost immunity, and improve cognitive ability, but consisting of completely natural and organic ingredients."

Let's say that the rest of the brief is:
1) Target: parents of young children
2) Lifestyle: more responsibility + kids not letting them sleep = constant fatigue
3) USP: the energy drink company that replenishes what's drained from parents
4) Perception: positive authority on put-together parents

This is just a sample for what a naming brief could look like on a very basic level. I'd try writing one for your company and then coming up with a list of 70-100 names.

But back to step 1. Don't let the name get in the way of the company.

Good luck.
 
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Last edited:

MJ DeMarco

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How do you want your product/company perceived?

Is there a USP that you can tap into? Something unique? A particular audience target?

All of these factors should be considered.

Try starting at a vision and working backwards.
 

InformationH

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If you're having trouble maybe worth reading through this article. Addresses product and business names.

If you've ever read The ultimate psychology pricing guide it's by the same author. Very indepth

How to Name a Product: A Step-By-Step Walkthrough

Sent from my SM-G920V using Tapatalk
 
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