GoPro founder Nick Woodman joined ABC’s Shark Tank panel last month in Episode 610. One of the featured companies in the episode was one called Kitchen Safe, a smart container that helps form good habits by locking away items for a set period of time, mainly cookies and sweets so you have no access to them until the set time expires and unlocks the container. The description of the product went as follows:
"The Kitchen Safe is great for food, cellphones, TV remotes, video games, and so many other things. It's a great addition to every home."
Nick Woodman took the words right out of my mouth when he said:
“Kitchen Safe is limited as a company name because you’re going to want to grow into new products and perhaps new verticals where this is not even in the kitchen. Originally I just meant for GoPro to be a surf camera company, and thankfully I didn’t name the company SurfCamera. I don’t think that people are going to naturally think to put anything other than food in this.”
By Kitchen Safe stating that the container is useful for other items other than food, like cellphones and video games, Kitchen Safe was already marketing new verticals.
A name like Kitchen Safe, advertising and operating beyond just the kitchen, has a few negative consequences:
- It’s misleading and can seem gimmicky.
- It devalues and limits the product.
- It almost comes across as a desperate sales angle, "But wait! It can also be used for this!"
Essentially, the product loses its confidence. It brings to mind the old adage:
"Jack of all trades, master of none"
All these bad feelings wouldn’t exist if the creators had instead invented a unique name for the product. It could then safely serve a number of functions since it would no longer be tied to its descriptive name. Its new name would represent a novel product that is the master of locking away any type of item.
The beauty of a brand name like GoPro is it’s potential for unlimited growth. If he had named his camera SurfCamera it would have limited the creative use for the product with his customers and his company.
A brandable business name means freedom of use and growth for the product, which grants limitless opportunities for the company.
If you’re in the market for naming a new business idea, Brandroot’s marketplace has thousands of options to choose from. We help entrepreneurs every day with finding a great .com business name for their new venture. Stop by, browse the site and say hello. We love what we do!