7 Tips to Name Your Startup Correctly

Naming your startup is one of the most important success factors besides the product/service itself. While most of the entrepreneurs are much concerned about the packaging and other ornamental details in the quest of standing out in the competition, they forget one of the most important aspects, i.e. the name.

Business name is a powerful element of your business strategy and to make your startup a distinct brand, you must name it the right way.

Here are some important points to consider when naming your startup:

1- It Should Be Specific: Don’t try to be everything to everybody with your business name. If you’re planning a new kind of services in future, put them under a separate banner. Business name should be specific to a particular range of products/services. Uber did it rightly, i.e. UberDrive, UberEats.

2- Business Name Should Convey the Value:  Use a name that has a meaning and it conveys a benefit to the target market as well, i.e. Groupon, Linkedin etc.

3- It should sound good when it’s said aloud.

4- You should be able to find and get the right domain name, because you need a website. You do need extensive research to find a business name that well conveys your vision and a relevant domain is available for the same. This research can be a daunting task, however, using tools like Name.archi, you can speed up the research and get much better suggestions in less time.

5- People get confused with long names and often forget them, so it should be short and memorable too.

6- Avoid the much-hyped Web 2.0 syndrome, i.e. we still forget if Flickr is with an “er” or not. Moreover, names like cars4you or carsforu can also be confusing.

7- Make sure you can trademark the name. It’s important especially when your startup starts growing big.

It’s the name that makes your business different from your competitors, and to get a good market share, it must stand out. Naming your startup may look tricky and require good time investment, but once you find the right name, you’ll realize the worth!

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