With a lot of conviction and contemplation, you have stepped into the world of startups. You have undergone the grind of evaluating and reevaluating your startup, chalked out a roadmap, did market research, and came up with prototypes. And now you’re ready to manifest your plan into a profitable business.
But before you can move forward with your hustle, you have to work on the most important aspects of your startup, choosing a business name for it. Naming your startup may look easy at the outset, but it is a challenging task.
You will need to keep the following objectives in mind when you’re thinking about potential names for your company.
Since your startup’s name will remain with you for a long time ahead, you have to be quite cautious about picking one. I will discuss 4 actionable pointers that will assist you to select a fantastic title for your next start-up. Let us begin.
Your startup’s name is going to soon be tied to its individuality for the near future to make it memorable as possible. It’s among the very first things your team and possible clients will complete when they cite your company to other people. “Your name sticks with you,” says Jenny Stanley, managing director of Appetite Creative, a branding service covering Europe and Dubai.
Your startup’s title will look anywhere — pitch decks, presentations, brochures, websites, advertising campaigns, email addresses, company cards, goods, and much more. Employing a catchy and memorable title for your startup which contrasts well with people can allow you to instill a superb first impression in your intended audience’s thoughts.
Amazon, Walmart, BestBuy, Target — what do these companies have in common? Their brand names are short and simple.
Also read: How to Start An E-commerce Business From Scratch in 2021
1 thing you want to bear in mind whilst entering any sector is there will be a lot of players inside or none in any way. In both situations, you want to carve a niche for yourself.
Let us discuss the first instance — when there is cut-throat competition.
By way of instance, let us say there was a material advertising service with the name “content” that became a market leader. The moment some other entrepreneurs get a whiff of their content achievement — they will begin launching their particular agencies with titles such as”ContentPlace,” ContentCrib,” and”ContentSpot,” denying that this may hamper their company in the long term.
You need to see that by using similar names you are giving away new leverage to the business which has already created a name for itself. It won’t just confuse your prospective customers but a part of them is going to wind up visiting your competitor. Your client purchase speed will go down the drain if your clients can not recall your startup’s title easily.
In the second case, when you’re a new entrant in the market and there’s relatively low or no competition, you’ll have to create demand for your service or product. Hence, you should select a title that catches on fire and leaves a lasting effect on your audience. After all, your brand’s reputation is going to be one massive component that determines your place in the marketplace.
Deciding on a name that stands out from the audience instills a feeling of fascination amongst individuals. If you take advantage of a one-of-a-kind and out-of-the-box title, individuals are more inclined to consider you if they want a good or service which you provide.
When you’ve narrowed down a startup title you want, it is time to assess if or not a matching domain is available for enrollment. You can use a business-like GoDaddy to register the domain. If the domain name you want is not available there or if you would like to brainstorm more name thoughts, try out a brandable domain like Shift where existing owners list their domains for sale.
Each of the additional domain extensions such as .net or .org will not seem as professional. Plus when your clients attempt to go to your website they will always attempt the .com expansion first. If you do not have it then the customer will land on somebody else’s site on your own dime.
As soon as you’ve obtained the domain name, then do not neglect to search for fitting social media handles to your startup on Twitter, Facebook, LinkedIn, etc. These can assist your startup to increase its brand awareness online.
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Your startup’s brand name will be its primary identity. It will create a particular image of your company in the mind of your customers. Plus the name you choose will stay with your startup for the rest of its lifespan so make sure to invest a serious amount of effort into it.
Use the 4 actionable tips above to help you find the right name for your next startup.
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