With the boom in the number of first time, start-up entrepreneurs in the current market situation, one of the most primary and crucial problems faced, comes with naming the enterprise.
Earlier, people only had to worry about the name of the company. The millennium however saw a big change that irrevocably modified the link between technology and the companies. Now, not only do you have to think of a innovative name for your company, you also have to make sure a domain name is available under the same name, because a business without a website can pretty much accept they are already endangered, if not extinct.
Now, with the rise in digital advertising and social media marketing there are many more places the name needs to be compatible. However original you think you are being, Twitter, Facebook, Pinterest and even Gmail Ids for Google+ and other social media platforms will be difficult to get with 7.1 billion people and their brains also alive and being not very different from your own. If you are going to choose a name that is long, then the abbreviation needs to be decent and usable. (Ex: TGIF) Keep in mind that with the current situation of people’s minds and the world, attention can be very easily diverted. It doesn’t take a lot to distract a person so you need a name that is catchy, clear and confusion-less!
Here are a few points to remember when naming your start up:
- The easier it is to spell and pronounce the better, keep it short and simple. (Ex: 7Eleven)
- If you want something complex make sure it will ‘stick like glue’ in the minds of the people. Using fun words might help! (Ex: Echo Bay Technology Group – eBay )
- If you are using a word or phrase from another language, first, make sure you know all possible meanings for the word. You don’t want to get stuck on the wrong foot a year or two down the line after finding out the word means something unfavourable. (One success is - Ex: Chumbak)
- If you insist on using a name, your name or a loved one’s name, have other options in mind because unless your parents or their parents were extremely innovative there will probably be a company with the name already. (Ex: Nestlé – named after its founder, Henri Nestlé)
- Changing the spelling of a word that you would like to use as a name for your business might look really cool but remember when people talk about the company they are only going on phonetics and therefore might miss out on your awesomely altered spellings. (Ex: Wok-A-Toque)
- Maybe choose a name that actually has to do with what your business does, however, you must also remember to not cut off your growth options. (Ex: A landscaping business could be called Lawn ‘n’ Order)
The call of the hour is to be unique and different. We see everyday examples of how random words or rather what resemble sounds like Yahoo and Google made it big and now words like Hashtag, Google and Facebook are often used as verbs. Your company name is what can make your business or break it. So the most important point is to think long and hard and then, only then, make your decision.
After all, it’s all in the name. (Note: The same goes for children’s names! #Imlookingatyouamericancelebrities).