Decision making algorithm
Each of us in everyday life constantly makes decisions. Almost always, the basis of decisions is copying one's own or third-party experience. Sometimes the basis of such decisions is their…

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IS OUR BUSINESS PROFITABLE TO AN INVESTOR?
Let's look at our lender, he gave a loan of $ 250, the business is profitable, we can pay him 10% per year, he is happy because he gets 10%…

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Finding the Buy button
“When nature was limited to fit, we would go down to the cattle” (W. Shakespeare, “King Lear”). In my previous article “Where is the Buy button”, I wrote that, based…

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SUCCESSFUL NAMES OF COMPANIES – 5 DISTINCTIVE FEATURES

What’s the secret?
A well-chosen name can impress your fans, while a trivial boring name is unlikely to add admiration for your business venture. True, it is never too late to change the company name. Some well-known companies changed their names when a more interesting idea arose (Xerox was once called the Halloid Company; Nissan was Datsun; and LG is short for Lucky and GoldStar Co.). A good name can be both an instant insight and the result of careful and lengthy work. Although there is no magic formula for creating suitable names, here are five common points that can be traced to all well-chosen names.

Is it remembered?
Good company names are well remembered. After searching for an idea, allow at least a week to make a decision to think about the options well. Even when you pick up good names, it’s important to continue your search. The best names are remembered without having to check the list. You may be wondering which names will emerge from your depths of memory. If you remember this name, it will be remembered by others.

Brevity is the soul of wit
What do Nike, Apple, Facebook, Twitter, Dreamworks, Pixar and eBay have in common? Yes, these are very successful companies, but in addition to that, there are only two syllables in the name of each of them. Studies confirm that laconicism boils down to memorability. Therefore, it will be wise for the company to choose short and catchy names that are not easy to forget for consumers. While some argue that puns and ambiguities fit well as names, more often than not. Company names such as “This Mad, Mad, Mad Computer World” are not only hard to remember, but customers are unlikely to want to repeat that name to their friends.

They are functional
Think about exactly what special features, in your opinion, your company should demonstrate. In 1998, Mark Andreessen, one of the creators of the Netscape browser (formerly Mosaic), worked on a new free program. As stated in Daniel Ehrenhaft’s book, Marc Andreessen: Web Warrior, Andreessen liked the Mosaic browser, but the program still did not work as fast and was not as reliable as he wanted. Andreessen decided to rewrite the program and create Godzilla who would outgrow his predecessor. In 2002, Andreessen released his Mosaic Godzilla – Mozilla – and the Internet was never the same again. Firefox, Mozilla’s best web browser, has been ranked by some as the most common browser in the world.

Behind him is the story of creation
Some names just fall from the sky, so if inspiration descends on you, use it to your advantage. In 1904, Thanksgiving, Holt Tractor photographed their newest earth moving tractor. As stated in the biography of the creator of the company, Benjamin Holt, the photographer noted that “the tractor is crawling like a caterpillar.” Holt accidentally heard this phrase and exclaimed: “Caterpillar! Suitable name!” In 1910, Holt officially registered a new name for his construction equipment company, Caterpillar. The moral of this story is that you must always keep your ears at the top of your head. Inspiration can come at any time.

The emergence of a new language
Creating a word should not be the last unproven opportunity; this option should be considered first. The creators of Google and Gizmodo did not find the names of their companies in the book or elsewhere, because they did not exist before. Combine two words or concepts, spell a word, break stereotypes. Consumers value independent risky brands that aren’t afraid of competition. Let other companies be content with simple names. Allow yourself to be different!

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