Unlocking the Perfect Business Name: Tips and Examples!

What should I name my business? So I got a great question from one of my newsletter readers, Tayo. Thank you for writing in, had a great question, love you guys. The question was, hi Evan, business plan check, although I found out that there's a company with a similar name in the States, so back to the drawing board about names for my business. I checked, you don't seem to have any ZOOGAs on names for your business, or do you? If not, would you be able to give me any tips? Thank you, Tayo. This is a great question. I think everybody struggles with that when they're starting their business. What do I name my company? And I don't have a Zuga on this because I don't think it's that important. I think people put too much importance on it instead of focusing on what's really important, creating something of value, creating something people are really going to care about. So here are some examples, okay? I used to have this infographic that I that I talk about different companies and how they came up with their names, and I don't know where it was, so I can't show it with you, but I love Modern Success. I love looking at how famous entrepreneurs built their companies, and if you look to see where they came up with their names for their businesses, it's all over the map. Okay, you'll have— there's a lot of business experts who will say, "Hey, your company's got to say exactly what you do, right? It should say whatever, you know." Jill's Accounting Service. It should state exactly what your company does. But that's BS. You look at successful companies, you look at the biggest companies in the world, a lot of them don't say how they— they don't say what they do, right? You look at their company names, you wouldn't have any idea what they do do. So one example of that is IBM, right? IBM was like International Business Machine. So it kind of says what they do, but they've abbreviated it. Some people name their companies after themselves. You look at Ferrari, Lamborghini, Armani, right? That's their own last name. Some companies like to take a word in a different language that has meaning to them and they put that in there. So, you know, Nike is the Greek goddess of victory. How many people know that? Who knows? But it has a deeper meaning for them. Some companies just like having a name that is complicated. They do it on purpose. The guy who created Xerox created a hard name on purpose. Imagine, name starts with— we all know Xerox now, right? But the name started with— starts with an X, right? X-E-R-O-X. Xerox. If you saw that for the first time, you probably wouldn't say Xerox. It would be X-E-R-O-X, right? The reason why he did that was he felt like as soon as somebody remembered, they would never forget. So it was how he stood out with his name. Virgin Richard Branson's company, they started it because when they were trying to come up with a company name, they were all young and they had never been in business, so they were all virgins in business, so they called the company Virgin. Sony is a combination of sonus, which is Latin for sound, and sunny boy, which was a popular expression in America at the time that Sony came over. So that's how Sony came about. Harpo is Oprah Winfrey's company. Harpo is Oprah backwards. So there's tons of different ways to do it. There's no one right way. Ideally, you pick something that has some meaning to you, that has some kind of story behind it. But at the end of the day, the customer is not going to care that much what the company name is all about. Don't stress out so much about the company name, and instead focus on creating something that has deep value and meaning for people, right? Your product or service, that's what you want to focus on and not so much the company name. That's my two cents. I'd love to hear what you have to think. Let me know below in the comments how you came up with your company name. Let me know what you think about finding a company name. Leave it in the comments. I'd love to read it. If you guys like this video, thumbs up below. Click on my face, subscribe to the channel. Thank you so much. I'll see you soon.