Having a co-founder to help you get your limited liability company off the ground can be a tremendous help. After all, starting a business is a lot of work, and having someone share the responsibility can be a godsend.
But what do you do when you and your partners just can’t find a way to see eye to eye? As you launch your business, you’ll need to make a lot of decisions along the way, such as choosing a business name.
While it may be a deceptively simple task, what you ultimately decide to call your company can play a critical role in its long-term future. It frames the first impression your business makes on potential customers and, as such, serves as the launchpad for any future marketing efforts. So there’s a lot to consider.
But, if you and your co-founders are running into trouble landing on a business name, here are a few tips to get back on track.
Consider a Different Perspective
If you’ve been trying to devise a business name for a while, you may find your creative process has dried up. If that’s the case, don’t fret. Perhaps all you need to find the perfect business name is a fresh approach.
Taking a step back and implementing some more creative means to determine your company’s ideal name can often help. You may be too close to your business to see its mission from the right perspective. So change the lens through which you view it and begin the brainstorming session anew. You may be surprised by the results you see.
Find Some Common Ground
You and your co-founders may not be as disconnected as you think. If you look closely, you may find that the business names that attract each of you actually share a common thread or theme. By closely comparing and contrasting your preferences, you can often find at least some similarities.
Whether it’s conceptual (do your business name ideas play off a certain aspect of your business?) or more practical in nature (are your names a similar length, or do they perhaps rely on alliteration?), you might be able to identify a workable starting point to make everyone satisfied in the end.
Search Elsewhere for Inspiration
While we by no means encourage you to steal ideas from winning brands whole cloth, studying some of the biggest success stories — both from within and outside your industry — might help uncover some inspiration.
After all, some of the most popular brand names do share some of the same attributes, and you can learn how to apply these to your mission too.
Don’t Let It Get Overly Personal
Perhaps the worst thing that can occur as you and your co-founders work through the naming process is for the conversation to get ugly. However disparate your opinions may be, it’s essential to stay on a professional footing.
Don’t allow your personal relationships to enter the fray, or you may be unwittingly sabotaging your progress. When people feel attacked, they’re less open to creativity and compromise alike. Checking your temper at the door is a must if you and your co-founders plan to make a long-term success out of your company.
Try a Business Name Generator
If you and your co-founders are at an impasse, then a business name generator may be able to help.
The internet is full of these tools, and though you may initially feel like their automatic nature robs you of the agency involved in selecting the perfect business name, generators may be able to shake you and your co-founders loose from your stalemate and give you an idea or two you never would have thought of otherwise.
Getting the gears turning again is a firm step towards a solution.
Persist Until Everyone Is Satisfied
Speaking of finding a solution, don’t give up just because you and your partners are having difficulty choosing a business name. The only thing worse than taking too long to pick a name is rashly selecting one that not everyone is satisfied with.
You might wind up failing to present your company in the best possible light, which could inevitably affect business.
Even in the best-case scenario, you may be planting the seeds of further conflict down the line with your co-founders, dooming your partnership.
Making a Name for Yourself
Even if the techniques above don’t automatically solve your business name problem, they may at least be able to get you and your co-founders in a more constructive place.
You already have a lot to do to secure your business name and kickstart your operation accordingly. The last thing you need along the way is to wind up trapped in a protracted brainstorming session that stalls much of the other work involved in giving your company the best possible launch.
If you do need some help getting started, you might want to consider turning to Incfile. We specialize in giving small business owners like you the tools and knowledge you need to enter the market with maximum impact and minimal competition.