The name you give your new business could very well become one of its biggest assets. It would become the basic identifier for your brand in the market. Choosing a name for your startup would also require you to consider several factors, including the ones mentioned here.
Look alikes
Beware of names that have too many alternate spellings and meanings. For instance, a name like Phaser runs a risk of misinterpretation as Faser or Fazer, thus leading to several hurdles like landing up at the wrong brand when searching for your product online. So choose a name that sounds unique and is tough to be misinterpreted.
The light bulb moment
Upon choosing a possible name, keep saying it at least a couple of times to see if it sounds ok. Your funders and customers would be saying this name a lot. So it needs to sound catchy as well as accurate enough to be translated onto the keyboard easily.
Be relevant
Of course, you need to choose a name that is relevant to the product that you want to market. Choosing a completely irrelevant name would not give your company its due recognition. For instance, if you are marketing light bulbs, it pays to choose a name that has something to do with lights rather than choosing something like ‘Phase’ or ‘Fragrance’.
Tell a story
Having a name that tells a story of sorts can help your brand receive recognition in the market. Take cues from the following examples: Wakefield is named after a famous character in the Tom Swift novel series, and Warby Parker is named after two of the main characters in the Jack Kerouac journal.
Personalize it
Your company name should reflect your personality. Choose a name that comes with a personal story as well. For instance, Caronline Fielding who developed the iPhone app called Bus Rage named her company Dryven after her three boys Dean, Bryan and Steven. This ensured that customers remembered the name well when they came to know of Fielding’s personal story within it.
Love the name
Choosing a name just for the heck of it would lead you nowhere. You need to love the name you choose so that it strikes the right chord with the customers as well. Picking a name that resonates with you every time you hear it would work wonders for both your business and your customers.
Summary
Choosing an appropriate startup name is not that easy a task. You would need to consider several points when picking the right name for your venture. Choose a name that would get you recognition in the market.
