Your business plan is written. Funding is lined up. And your leadership has been chosen. There’s only one thing missing – the perfect name for your startup. While you may want to use the first name that pops into your head, this could hurt your startup’s chances of success before you begin.
With over 23,000 startups in Silicon Valley alone, your new business needs a powerful, evocative name to differentiate yourself from the thousands of other companies looking to become the next Facebook or Tesla. Setting aside time and resources, finding the perfect name is one of the best things you can do for your startup.
Squadhelp.com has helped thousands of startups create the perfect name, and to help you on your startup naming journey, we’ve outlined below four things to avoid when naming your startup.
Don’t Bore Customers With Your Name
Today’s average consumer is overwhelmed with companies and products all vying for their attention and business. Often, brands only have a few seconds to catch a customer’s attention before they move on. In those few short seconds, you don’t have time to lay out the finer details of what makes your startup superior to your competitors.
Instead, you must rely on your name to help you stand out from the sea of startups offering similar products or services. Your name could be what makes the difference between someone choosing your app instead of scrolling to the next one on the list.
Choosing a boring name puts you at a disadvantage from the start – people are going to be drawn to an evocative name, not a dull or standard one. Imagine if Mark Zuckerberg decided to name his new tech company Zuckerberg Friend Finder, instead of Facebook!
Don’t Be Obscure When Naming Your Startup
A brand that’s clever or witty can be very appealing to the right audience. Yet, when it comes to a name, don’t go for an obscure metaphor that only a handful of your target audience will understand.
Obscure or complicated names are easily forgotten – we’ve all had those moments when we’re desperately trying to recall the name of a business. If we don’t remember it quickly, when we need it, then that business has lost a potential sale.
With the bottom line of your startup resting on the ability of potential customers to recall your name, choosing an obscure name doesn’t make financial sense.
Don’t Complicate Your Name
We’ve all come across a business or brand name that we have no idea how to pronounce. Unfortunately for the company, you will likely avoid mentioning the name to others to avoid embarrassment. You want your customers to be able to remember and pronounce your name, encouraging their friends or family to look it up on social media or online.
Organic customer referrals are one of the most rewarding sources of revenue, and creating an easy-to-remember name is one of the best things your company can do to drive those recommendations. Don’t miss out on potential brand advocates with an overly complicated or difficult-to-pronounce name.
Don’t Forget To Look At Legality
When naming your startup, keep legal implications in mind throughout the entire naming process. Choosing a name that is already in use will not only negate your aim of being unique but may also cause legal trouble down the road.
Trademarks can be tough to navigate without help from an expert. You can check with the United States Patent & Trademark Office to find out if your desired name is registered as a trademark. However, we always recommend hiring a professional to help you navigate the legal issues surrounding starting your business.
While coming up with a great name for your startup should be an exciting and creative process, remember that naming is more difficult than most people think. Don’t let the wrong name hurt your startup before you get it off the ground. Putting time and resources into finding the perfect name is a worthy investment and will help you rise above your competitors.
What name have you chosen for your startup? Share it here below and we will be happy to provide feedback!