Creating a Name for Your Startup

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Can’t think of a good name for your new business? Following these steps could give you the inspiration you need!

HAVE A PLAN.

1. Before you do anything else, you may want to research the names of companies you’ll be competing against. This will give you an idea of where you can position yourself. If similar competitors are named Zongo, Twaddle, and Kibblitz, will you be try to emulate that or go against the grain with something more old-fashioned and professional? Either way could be good depending on your product and your market.

2. Brainstorm names by yourself, on your own time. If you’re having trouble creating a list of names, make a second list of words that could be used to form the name. Think of things that have to do with your industry or product. Look for rhymes and synonyms. Seeing all these words in front of you may jog your creativity.

3. Once you have a list of names, discuss them with a co-worker or friend. Talk about what you want the name to convey and make a decision. If you can’t decide or don’t like any of the options, continue brainstorming.

4. Seek lots of feedback on your choice of name, especially with your target customer group. Try not to rely on friends and family here… they might be too considerate to give you the truth.

 

ADDITIONAL TIPS.

– If you are creating your start-up with other people, do NOT brainstorm in a group setting. Have everyone think of names on their own time, then arrange a group meeting to discuss everyone’s best ideas and make a decision. You’ll save a lot of time and get better results.

– Do NOT crowdsource. A few people spending a lot of time thinking about it will most assuredly yield better results than a lot of people spending a little time.

NEVER settle for a mediocre name, unless it is only a temporary placeholder. Just make sure you get a better one before you pitch to investors or begin selling to customers.