Finding the right name for your business is the most significant part of every startup. It has a vital role to play in the success of your business. Even when you present your startup pitch deck to an investor, the thing they see is the name you have chosen. Stats show that half of the investors make up their minds upon checking the brand name itself. Thus, it is vital to choose a name wisely, keeping in mind all the essential factors.
If you are also planning to start your entrepreneurial journey and have an excellent idea in your mind, the first thing is to choose the name. We have listed expert tips below to help you find an apt name for your business.
10 tips for choosing a startup name
Keep it short
The name should not be more than a few words. Do not turn it into a phrase that looks more like your tagline. Stick to a short name that rolls off the tongue instantly.
Easy to pronounce
A name that is challenging to pronounce is a disaster! It will reduce your word of mouth as people will either try not to pronounce it or say it wrong, giving you no benefit.
Relevant to the brand
Gone are the days when people used to name their brand to the name of their family members. Gupta and sons are not more brand name. Instead, use something relevant to your brand and the products and services you offer.
Do not restrict growth
You may start with only one product, but there is always scope of scalability. Make sure you choose a name relevant to the business and not only speak about a service or product you offer. The idea is to keep the doors of growth open.
Check Trademark
Once you finalize a name, the next step will be to go for the trademark. Hence, it is vital to narrow two-three options and then check the trademark availability.
Should be attractive
For people to be interested in a brand, its name should catch their attention immediately. So choose a funky and contemporary name that stands out in the market and urge people to gather more details about your startup.
Sync with the logo
If you have ever prepared a startup pitch deck, you must have noticed that investors speak about the sync between brand name and logo. It is the most fruitful thing to keep both things connected to make it convenient for the consumer to connect the dots.
Thorough Research
One word can have multiple meanings in different languages and contexts. Thus, it is vital to do thorough research to check all possible meanings and ensure that the name doesn’t earn you any negative publicity.
Brainstorming
Ideas can come from anyone! So, the next tip is to sit with your team and brainstorm till you reach a name for your brand. Then, let everyone participate equally and see how it turns out to be.
Consider domain name
Every business these days needs to have an online presence. Once you choose the name, you need to have a website with a similar domain name for better customer reach. Check if the domain name is available, or you would have to toss it.
With these simple yet effective tips, you can nail the name selection process and choose a name that increases your brand value significantly. Seek references from people in your network and consider all the suggestions to pick the name you like the most. Understand that the scalability and success of your business depend on this one decision. So, do not be in haste, take your time, and choose an excellent name.
