As a business owner, the topic of pivoting and rebranding can be a touchy subject. With all of the hard work you’ve put into building your company’s identity, products, services and more, it’s easy to feel as if rebranding or pivoting would be taking a step back as an entrepreneur. That being said, anything that could potentially result in rapidly increasing revenue for your company should never be deemed a step back. By strategically rebranding your business or pivoting, you will be re-positioning yourself in the marketplace to better compete with other businesses.
This past week, 63 startups officially launched at Y Combinator’s Demo Day 1. Among the ideas behind the startups and the groundbreaking technology the companies were built on, along with the impressive teams that make them up, there’s also another important aspect we should take note of - the names of the startups.
It’s no secret that creating a loyal base of customers is a difficult task as an entrepreneur. In years past, holding a sale or a BOGO (“buy one get one free”) offer oftentimes was enough to entice prospective customers to become paying customers. While there are certainly instances nowadays where these strategies are still effective, for most companies, it simply isn’t enough due to the amount of options consumers have at their fingertips in the current online marketplace.
When it comes to building a business, one of the most significant steps during the process is creating a well-polished, securely established brand. If you take a look around, the most iconic companies in the marketplace are more than just the logo and name they put out into the world. Instead, they have a captivating brand and message that goes beyond the products or services they sell to customers.
When it comes to building a business, the amount of variables one needs to take into consideration seems to be endless. From building your product to keeping your customers happy to marketing your company, the list goes on and on. Because of this, upon initial thought, finding a terrific name for your company may not seem like the highest priority.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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