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You should consider reviewing your name if:

● Stakeholders consistently make the wrong assumption about what your company does and you end up having to explain it

● It doesn’t align with your new business activities. If your business expands to offer additional services or products, you should consider changing your name so your stakeholders don’t remain knowing your brand for one element of your business

● You want to do business internationally but your brand name translates negatively

● You have merged with another company and their brand name has more value and credibility than yours

● Creating a new brand name is not as easy as it seems. It is a long process where you have to find the brand name that attracts and aligns with your market and your identity. Ideally, your brand name should be easy to spell and easy to pronounce. Simplicity is a must-have especially nowadays where simple names are most of the time not available. A brand made of 2 to 3 syllables is ideal.

Involve a limited number of employees from different age groups and roles within your business in the brand naming process to ensure everyone has the same perception. Weigh the pros and cons and make sure the new brand name fits with your business activities and values. It is important to consider future growth when you choose a name. Indeed, you may specialise in a certain sector but you should not limit your brand potential as your strategy will evolve.

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