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How to Come up with the Right Name for Your Small Business

It’s easy to think that naming a new product, service, or business simply involves brainstorming ideas, testing the ideas out on some people, and choosing a name.

But to do it right, it’s more involved than that.

Here are three things to keep in mind when naming new products or services.

1. Does it quickly communicate what the product or service is?

Unless you can pour thousands of dollars into developing and marketing an abstract name (e.g., Google), it makes more sense to come up with a name that communicates what the product or service is. Here are two examples: PayPal and OkCupid.

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