Nothing can torpedo a startup faster than a poorly chosen name. Brandability is all about identity and recall. Consumers who don’t remember your name because it is confusing, awkward, long, or bland will not become customers. It is only by choosing a unique and memorable name that your business will be able to start building its brand and developing loyal customers. For some companies, their brand is the most valuable asset they have. Yes, it is that important. Fortunately, the naming process doesn’t have to be overwhelming if you stay mindful of a few essential tips.
The idea of starting your own business is not always a comfortable feeling. Being overwhelmed and unsure of yourself is completely normal. Even the most confident entrepreneurs have experienced periods of doubt and uncertainty. The ones who make it out of this phase are those who possess at least two things: in-depth knowledge and instinct. The knowledge part can obviously be developed. There are many ways to study and familiarize yourself with your industry’s concepts and skills. The instinct side of the coin, however, is sometimes harder to come by.
Success in today’s business world depends as much on communication as it does your actual product. The Internet has drastically changed the way consumers interact with companies and visa versa. The days of face-to-face contact are slowly drawing to an end. Many people now do business without ever hearing or seeing the client or representative involved.
Today’s ultra-technological society has made creating an online presence for your business a necessity rather than a luxury. The process can be intimidating, especially for those who are unfamiliar or uncomfortable with the Internet. Fortunately, it is possible to create the presence you need without being a technology expert.
Many people find that deciding on the company name and operational vision are the hardest parts of establishing a business. Although making such decisions can seem laborious and overwhelming, the hardest part is hardly over. Coming up with a clever and creative name is worthless if you fail to attract customers. Even the most innovative and progressive products will stay tethered to the shelves if there are no customers.
Do you have an idea you consider unique and innovative? Something the world doesn’t even know it’s waiting for? Are you full of ideas that are screaming to get developed? Too many people can answer, “yes” to these questions. Unfortunately, many ideas never get out of the vision stage. It is one thing to have great ideas and enthusiasm; pursuing and being successful with those ideas is something altogether different.
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:
Being able to successfully name your business venture is one of the most important abilities you will need as an entrepreneur. Saddling yourself with a generic, bland, and unimaginative moniker can spell doom for your company, regardless of the greatness of what you offer.
Modern history is full of examples of great products that failed to influence their industry, often because they did not have an attractive and memorable name. Today’s consumer is bombarded with tens of thousands of business images and sounds on a daily basis, with the large majority dismissed without any consequence, while just a few make a lasting impression.
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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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