Saturday, June 13, 2015

5 Tips for Naming a Startup

Choosing a name for your company can be almost as difficult as putting together the business model. Here are several pieces of advice from startup CEO's that were able to brand their businesses successfully.
Strike While the Iron is Hot
  •  InviteUp: When we were picking the name InviteUp, a schedule based dating app, several alternative names were also considered. One thing that InviteUp quickly realized was how rare URLs were and how expensive existing ones could be to acquire. Once the company had come up with the name InviteUp and realized it was available, they acted quickly and grabbed it right away. It is important to research the titles that are available to be sure that your business can have a uniform image across the web and on social media platforms.
Choose a Scalable Name 
  • With a tremendous amount of competition in the security and identity protection space, needed a name that said it all but also allowed the business to transition into new areas if market pressure became to high. Their name not only speaks directly to the industry they are in, but also gives the user a sense of personalization in safeguarding online activities. Companies like Blur or DuckDuckGo may have similar data security offerings, but their names don't immediately draw parallels to online security.'s name also enables them to branch out to other security products while still keeping a unified and clear understanding of what the business does; protect user identity on the web.
Research Names You are Considering Extensively 
  • RoadLoK: In 2006 this, CEO Adam Xavier and his brother had just received their first round of founding which they promptly used to print promotional materials for trade shows. At the time the RoadLoK's name was HamptonLoK, and unfortunately after having all materials printed with that name the brothers received a cease and desist letter from another HamptonLoK that had been in business for some time. Be sure to research your name before expending any funds on printing. You need to 100 percent certain of your name, or investors might turn to other entrepreneurs that have done their homework.
Pick a Name that Doesn't Have an Unintended Meaning 
  • Sqeeqee: When the idea for the Social Networthing platform hit CEO Jenny Q. Ta it didn't immediately have the catchy name it does today. Originally the site had a very different title and unbeknownst to Ta, the name she had chosen had a rather adult meaning. After being informed by close friends of the situation, Ta changed her the name and found much greater acceptance from the public as a whole. Do your research and make sure you aren't being lude, disrespectful or just oblivious by choosing a name that might carry some negative pre existing connotations.
Choose a Name that Conveys your Value- Added
  • MeetMindful: A great selection for a company name clearly and concisely conveys the value proposition of the service offered. It's critical to consider the market you're trying to infiltrate when naming a startup, and when you're entering the dating services market you need to make sure your name clearly distinguishes you from competitors. MeetMindful makes it clear that the site aims to connect like-minded individuals who value mindfulness and conscious living. Additionally, it's important to make sure the name of your startup is easy to pronounce and remember - you want it to have a ring to it - and MeetMindful certainly does

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