Would Apple by any other name be just another computer company? Would Relational Software wield the same clout as Oracle does today? Would the Musk Model S be as powerful, efficient, and sexy as the Tesla Model S? Powerful and efficient, yes. Sexy, maybe not.
The name of your company is the first thing anything knows about you. If they don’t know your name, they don’t know you. They might have a good idea of what you do: say, you’re the dating app where you swipe right if you like the looks of someone. But, that doesn’t distinguish Tinder from JSwipe. The name of your company can say a lot about your intentions. It can also not say much, but sound cool. Either way, it is important.
It is a crowded market out there. There were 541,927 small businesses in Colorado at last count (2008). There are undoubtedly more now. Every 48 hours, a new tech startup, well, starts up, in the Front Range. Maybe it has something to do with geography. In the cradle where the Rockies bend down to meet the Plains, companies grow, and many times times, thrive.
The evidence is there in the buildings of Denver and Colorado Springs; home to illustrious institutions both past and present; Samsonite and Wells Fargo, The Gates Rubber Company and Coors, the Denver Mint and Union Station. The buildings reach into the sky as if stretching for enlightenment. Office lights blink on beneath the Rocky Mountain sunset. People chase and wrestle ideas into the evening and into the night. The startups of today hope to be the business leaders of tomorrow.
With such competition, it helps to have a name that stands out, a base on which to build and elevate your profile. There is no formula for a perfect company name. They come in all sort of sizes, letters, and numbers. However, there are concrete steps to take to find the right name for your company.
To start: brainstorm. Think of words that could describe your company. Combine these words, subtract letters, play around with them. Come up with 10 names. Research your competitor’s names, and the names of those rapid-growth startups. Come up with 10 more names. You now have 20 names. Eliminate 15. Now you have 5. Check their availability online through your secretary of state and through any domain lookup. A good company name appeals to you and your targeted customers. Avoid: names that have unfortunate connotations and names that are long or confusing.
Recently, we sent out a mailer. The initial excel sheet stretched an imposing 5,500 names long. Only 250 would receive a letter. We had nothing to go on but their names. We had no idea their revenue and could only guess at their industry.
The typical name consisted of initials in front, broad business term in back. Names like TL Enterprises, MKV holdings, RYN Consulting. Many of these companies seemed to be going for the gravitas of IBM or GE, both established, powerful companies. But, initially those companies were more than their initials. They were General Electric and International Business Machines. With success, they became familiar. IBM became a nickname and then an identity.
But, hidden between the RKG Properties and BRC Industries were nestled a few gems. Names that stood out for their uniqueness, their profundity.
There were the paradoxical: Desert Bay and Perfect Disasters. The irreverent: knucklesandwich and Barenaked Birds. The visceral: Furious Viola. The discomfiting: Black Septum and the comforting: Cloudsrest. The mind-bending: Fourth Axis. The silly: Jumpy Jumpers. And who could forget Cody, the Teeny Tiny Alpaca.
So what’s in a name? For Shakespeare, a rose by any other name would smell as sweet. But, for a company, a name is a large part of your identity. It can direct your culture and attract customers.
No, Cody, the Teeny Tiny Alpaca didn’t receive a letter, but he will always have a place in our hearts.
