How to Name Your Company

How to name your company

If you're looking to name a new company or product, it can be tricky to know how to go about it.

Arielle Jackson of First Round Capital shared a great process for coming up with a name on Lenny's Podcast.

1. Figure Out Your Positioning

Fill out the following positioning template:

"For (target customer) who (statement of need or opportunity), (product name) is a (product category) that (statement of key benefit).

Unlike (competing alternative), (product name) (statement of primary differentiation)."

2. Write a Naming Brief

This should include a couple of main sections: (i) your general aims and (ii) your criteria for evaluation.

General Aims

  • What are you naming?
  • What do you want the name to communicate?
  • What do you want to avoid?
  • What are the names of competitors and related products?
  • What are the other considerations (e.g. needs to work for Chinese speakers)

Criteria for Evaluation

This section should lay out how you intend to evaluate proposed names.

For example:

  • Would it violate any trademarks?
  • Would it be possible to trademark?
  • Is a suitable domain available?
  • Is it distinctive enough?
  • Is it timeless?
  • Is the name reflective or your key messaging or does it suggest an emotion or feeling that you're trying to convey?
  • Is it fun and easy to say and easy to spell?
  • Appearance - does it lend itself well to visual design?
  • Length - two syllables is a good sweet spot

3. Run a Brainstorming Session

Get 5-7 people together in a room, including founders plus some other interested but disinterested people (at least one or two people with a passion for language are good!)

Spend 1 hour.

The aim is to come up with hundreds of bad ideas and a few good ones.

Break it down into two sections as follows.

Section A: Riff on Words From the Positioning Statement

Take meaningful words from the positioning statement.

Generate synonyms, antonyms, free associations, other languages, etc.

Section B: Thematic Brainstorming

Pick 7-10 themes related to what the company/product does.

For example, if the product is an app to help with strawberry farming, some good themes might be:

  • Last names of famous farmers
  • The history of strawberry farming
  • Botany 101

4. Do Some Internet / Library Research

Browse through articles / Wikipedia / books related to the subject. Jot down words that might be interesting. Add these to your list from Step 3.

5. Whittle Down to 3-5

You hopefully now have 10-25 concepts.

Now, using the criteria from your naming brief, whittle these down to 3-5 top contenders (not just 1 because you might not get it!)

Conclusion

You hopefully now have a rough idea of a tried and tested process you can use to name your company.

Let me know if you come up with some good ones!

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In case you want some extra name ideas, you may also like to try out my company and brand naming service: Fast Track Names.