Never underestimate the power of names and when creating one for a startup, put real efforts for something unique. Besides the typical trademark checks, make sure the name is SEO-friendly because we’re in the digital era where the internet is the fulcrum of market systems. You need a brand to create a differentiation, and the #1 brand element is your business name.
That brand needs to be unique, punchy and easy to remember. If you call 6 friends on the phone and give them the name, and call back again in two hours, and none can remember the name, do not use the name. Why? If they cannot remember the name easily, they cannot tell future customers about you. And if they cannot remember, that app download will not happen since people cannot locate your app in the store.
Also, you must make sure the names are easy for anyone to spell. Do not make it another degree exam where people cannot just spell your name. If they cannot easily spell the name, you are losing market leads and opportunities. I like the names I give our brands: zenvus, milonics and tekedia.
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Read this piece for more perspective: “Get a punchy tagline that can excite and thrill your customers at the same time. You can add a little twist to it, or some kind of pun that makes it all the more interesting. Get very creative with it and tie it to your logo and all your branding campaigns.”
And the most important thing: the best names must mean nothing, untethered to any sector, to give you space to expand your business playbook. You should also bias for names with available .com for domain registration.
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Comment: Lol, totally agree – not sure If I properly pronounce Thyssenkrupp (the German conglomerate) right, but the name probably means something relatable in German, they’ve obviously been able to get away with it for more than 20 years and they’re definitely not a startup.
I wonder what would happen to an African Startup that named itself in a similar way? – Lol, if not for Google smart suggestions on Search, they’d probably be ‘un-locatable’ on Google Search.
My Response: Good point but note that if the business is not consumer-based, you can get away with anything. Thyssenkrupp makes steel and its name may not really matter because it may have only 5-8 customers in a state. It can afford to reach those with brochures, etc. Naming is extremely important for consumer facing brands unlike some enterprise B2B firms in some sectors.
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Getting a simple and ‘virgin’ name for a business is becoming tougher by the day, sometimes it feels like all the fine names have been taken, from trademark to domain name registration; it has become a business problem on its own.
Maybe there’s still plenty option in local or native names, with some sweetener added…