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    Articles

    What's in a Name? The 3 Key Aspects of Choosing a Company Name

    Here you are, starting a business… And, surprisingly, the first big challenge you’re facing is deciding on your company name. I really mean it when I say ‘challenge’! So, how do you approach naming your dream-in-the-making?

    There are a lot of things to take into consideration. Ideally, your company name would be:

    1. Inspirational. It should have some meaning, resemble or be associated with something important to you, so that you can get attached to it.
    2. Easy to pronounce and remember. You don’t want it to be a tongue-twister, especially if you’re thinking about operating abroad.
    3. Available as a domain and trademark. We live in an information society, so having an Internet domain is extremely important these days. The trouble here is that domains must be unique, and less and less of them are available every day.

    How we ‘found’ our name

    It looks like a tough nut to crack, and it is, indeed. In terms of point 1, we knew only that we wanted to do things better than we saw them being done at our previous workplaces.

    As for point 2, we wanted something short with many vowels (not easy to find in the Polish language). And in terms of point 3, there are websites which can help you check and browse the available names.

    So I started off looking through endless inspirational quotes, trying to find something I felt would be right. I kept cross-checking everything with available domains for hours on end, when I finally came across an interesting thing Alan Kay or people of similar stature from the 70s said:

    The best way to predict the future is to invent it.

    It looked about right, we were in fact planning to “invent the future” for ourselves. And I liked the word “predict” (data science which is today associated with ‘predictions’ was in its early days back then, but it seems my instinct was spot on).

    I then started to look for possible permutations of the word which could constitute a name on their own but weren’t a word exactly. Finally, there it was—Predica—meeting all 3 conditions.

    I also learned some time after that the quote might be derived from even earlier times, from Abraham Lincoln. He was quoted as saying: “the best way to predict your future is to create it”. It seems to be exactly the inspirational meaning I was looking for.

    The story behind the domain

    We started off 2009 as Predica, proudly having predica.pl as our Internet domain. Back then it seemed great, and it was. However, even though I believe we always follow the principle of “thinking big and acting small”, it seems we didn’t think big enough.

    It’s only after 10 years we learned what we’ve missed… Going from local to global introduced yet another challenge with the name.

    When you think of going outside of your home country, you should have one of the global Internet domains – preferably .com, of course. And here we stumbled upon another company – Credit Agricole.

    They’re a widely known financial enterprise which holds rights to predica.com. Sadly, even though we operate in entirely different business fields, we couldn’t get hold of the domain. That’s because Credit Agricole has Predica as one of their child organizations operating in France in the insurance industry.

    What was the outcome?

    We needed to approach the topic differently and look for alternatives, keeping our name but extending it with something which would fit our future business development goals. We landed on a few options (which we also acquired), but finally decided on predicagroup.com.

    It seemed to resonate better in surveys. In addition, it’s aligned with the fact that as consultants we want to be close to our customers. Hence also our legal entities and offices in Poland, the UAE, Qatar, and the US.

    Finally, we believe it tells the story of us working as a group of individuals focused on the same mission: To accelerate the transition to self-managed organizations where people can focus on meaningful work.

    Ready to learn more about us?