“What's in a name? That which we call a rose by any other name would smell as sweet.”
That famous line from Shakespeare’s Romeo and Juliet is a good aide for B2B companies who are thinking about their company name. Everyone wants a ‘perfect’ name – but finding it, along with an available URL, has become next to impossible in recent years.
What I’ve found is that there’s no such thing as a perfect name. A good name, well executed, is far better than spending lots of time and money on finding a ‘perfect’ name. Determine your brand character and evaluate your target market, and then pick something that works and provides you some flexibility over time. That’s all you need to do.
If you have a going-concern and your company name doesn’t accurately reflect what you now do, consider altering it to a name that leverages some of your existing brand equity, but gives you more flexibility. For example, we changed our company name from Mezzanine Consulting to The Mezzanine Group when we acquired another firm and started doing outsourced marketing. The ‘consulting’ name wasn’t appropriate for a company that did implementation, but we wanted to keep the Mezzanine component because it had brand equity – ie, our customers knew us as Mezzanine.
Moral of the story – a rose is a rose is a rose. Your company name won’t make or break your business. Your innovation and attention to customers will. While a bad name can hurt you, finding a ‘perfect’ name isn’t worth the quest.