Choosing a Business Name

[dwightvanman]

This has to be one of the trickiest aspects of running a business! My current business is an off-shoot of an existing firm so someone else picked the name (and its a pretty good one too) but I'm trying to set up a stand alone company, doing pretty much the same thing but with a view to eventually moving away from my existing partner - but choosing a name is killing me! We'll be doing mortgage and commercial mortgage broking - I'm trying to come up with something a bit contemporary, that says what we do but without being too specific (or cheesey...). If anyone has any suggestions for how to get inspiration, I'd be delighted to hear them!!!

 

[BWRAO]

I'd be happy to help you with your name and visual identity, website etc but there are so many possible routes to take. For instance finding a name that's unique helps your search engine rankings and will be memorable. Mortgage Options Scotland is rational (i.e. explains what you do) but is so generic it's difficult to find you amongst a sea of optimised search results. If you're keen to have a chat about help launching a new brand on to the market please get in touch on 07732 148 280. Kind regards, Alan Kittle. Creative Director, BWRAO.

 

[Mike Lewis]

I wish I could offer you some good suggestions, but I also find this sort of thing difficult.

I can only suggest what not to call it:

• Avoid those clever-sounding names that no-one knows how to spell or pronounce - and especially names that contain symbols such as ">" and "@".
  
• Avoid contrived names that give no idea of what the business is about - and that includes names based on initials only.
  
• Avoid names based on puns that are amusing the first time you hear it - and maybe the second and third - but quickly go stale after that.

In other words, choose a name that contain plain English words that everyone will instantly understand. In fact, "Mortgage Options Scotland" is an excellent example of what I have in mind.

Mike

 

[BWRAO]

I wonder what the people responsible for naming Google would think of your advice Mike

 

[Adventurelife]

The reality is the 99.999% of us on here are unlikely to be the next multi billion pound business with huge marketing budgets

Therefore , do not make it difficult for your customers and potential customers

Here are a selecting of some of the businesses I am involved in

Splash white water rafting ( guess what it does )

Morocco Adventure Tours ( guess what it does

Perthshire Paintball ( guess what it does

Keep it simple it works and the search engines like it

 

[BWRAO]

Getting above VisitScotland for the term "Perthshire Paintball" can't be a fluke... I'm no SEO expert but all your companies place very well on Google – so my guess is you have a healthy budget set aside for that.

I don't think Google started out as huge brand with millions to spend on promotion. But I take your point.

Perhaps you can try to combine both rational and creative descriptors in the name... "Something" Mortgage Brokers.

 

[shredder]

Given your in finance and need to convey trust etc why not keep it simple and put your own name above the shop. Dwitevanman Finance (obviously using your own name). This way your attaching your own brand to the firm and not hiding behind a made-up name, very important in small finance firms I think. Many successful professional brokers and advisors names have used this approach. Should make domain names easier too.

 

[dwightvanman]

Thanks for all the feedback - it is indeed a minefield... I've spent a few days googling other brokers for inspiration and have found more examples of bad company names than good. I have to admit that I've been deliberately avoiding using my own name as I've never liked it much - but also because it won't be me doing the bulk of the customer interaction and I don't want clients thinking they're not valued because they're not meeting the guy with the 'name above the door' as it were... I'm thinking along the lines of place names though now - hits the trust aspect, isnt too clever.... Will keep you posted!!

Thanks!

 

[Adventurelife]

Getting above VisitScotland for the term "Perthshire Paintball" can't be a fluke... I'm no SEO expert but all your companies place very well on Google – so my guess is you have a healthy budget set aside for that.

I don't think Google started out as huge brand with millions to spend on promotion. But I take your point.

Perhaps you can try to combine both rational and creative descriptors in the name... "Something" Mortgage Brokers.

If your research tells you that people are going to be looking for your services via the web, your business name is very important. The actual URL is very important.

Think of it this way, if you want to be found on the web you want to be on page one we all know that. But why not take it a stage further and have as many slots on page one as you can. Which with a bit of practice and effort and a very low budget you can. Example do a search for Morocco white water rafting, we take around 27 of he first 30 positions. Guess who get the business:thumbup:

We have websites that do not have names that say what its does on the tin, they are harder to get ranked.

 

[ScottJ]

I'm a big advocate of good descriptive generic names and exact match domain names with offer seo benefits as well as good old memorability factor for any offline advertising.

 

[Scottish Business Owner]

I really agree with the other regarding keeping it simple particular given the market you are in. Peter and Scott make a very relevant point about keyword matched domains which continue to be very powerful.

I would probably get a few ideas together and check what domain names etc are available. This might seem the wrong way around but I think if you are going to put effort into the web then it needs to be this way.

I think building a brand so soon is also maybe not the right way. I'm not really convinced that this should be a priority for small type businesses (I think this maybe had the bones of another post ). Keeps us posted on what you decide