American Express OPEN Forum – How to Pick a Name for Your Business

Phil Davis

Branding & Naming Expert President of Tungsten Branding

(Excerpts) Phillip Davis, president of Tungsten Branding, a name development firm, recommends creating a “pivot point,” a quality or core attribute that everything in the company revolves around, such as speed, price, leadership, or innovation.

“From there, you can use any number of naming strategies to convey this central theme,” Davis says. “You can use metaphors, (Jaguar, Amazon, Monster), or positive connotation blends (OnStar, TruGreen, Bright House), or descriptive hybrids (CarMax, JetBlue, LendingTree,) or key attributes (Sir Speedy, Priceline, Service Masters).”

Pick a flexible name. A successful candidate for a business’ name is not finite, but malleable enough that it can still stand as the business grows and changes. Davis says Midas is a great example of a flexible business name, because using the name of a mythical Greek king with the golden touch positioned the company based on quality service, not on mufflers specifically. This then allowed the company to transition to other automotive repair services without expensive rebranding.

“What you do is typically not as important as how you do it,” Davis says. “And your main products and services are likely to change and evolve.”

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8 Mistakes to Avoid When Naming Your Business

8 Mistakes to Avoid When Naming Your Business

When choosing a name for your new company, keep these tips in mind to help you find one that will work now–and in the future. Naming a business is a lot like laying the cornerstone of a building. Once it’s in place, the entire foundation and structure is aligned to that original stone. If it’s…

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