When we start our first business, we are in a huge hurry to choose our business name. What we don’t realize is that our business name in a sense defines us. We also don’t know where that name will be in thirty years. For all we know there could be one thousand people working for us by that time in an international company.
Many companies choose their names based on the founders. Levi-Strauss was founded by some German Jews who headed out west to make their fortune. They didn’t make it panning for gold, but by selling denim jeans to those who did. Law firms are often named after the founders such as Silverman & Beckman. But, then there other companies that name themselves based on geographic information such as Pune BPO Ltd. for example (I just made that one up.) Then, there are other names that use strange terms like Yahoo and Google who turned out to be amazingly successful.
Amazon did well with their business. Their business name conjures up images of dense forests, piranhas, and adventures! And then there are car names that name themselves after words in foreign languages like Toyota Corolla. You could name your company after Ethiopian royalty with the name Sheba (which is also a cat name — meao!) You could name a company after a Native American Tribe like Zuni. Or just come up with something weird.
The point is that a well thought out company name gives you an extra edge in your business. It can give you image, intruigue, recognition and more. It is critical to compare thousands of well researched names before you pick your final name. The problem is that most business creators just pick a handful of names, ask their friends and family, and then ultimately choose one. Then, later on their change their mind. Take naming your business seriously as the rewards for doing a good job are fantastic!