How to name the company – Naming a startup is one of the most difficult challenges while the idea of start-up forms in your mind, as it involves multiple strategies…
Naming a startup is one of the most difficult challenges while the idea of start-up forms in your mind, as it involves multiple strategies that are a blend of art, science, and preservance.
A wrong name could have a number of implications. A name that does not echo with the customers, is difficult to pronounce or spell or is too close to another business’s name, can have adverse effects on your brand.
However, not always a company with a mediocre name is unsuccessful. A distinctive name can attract the kind of customers you want and keep those away you don’t way. But in the entrepreneurial world, is there ever a situation when you do not want to entertain a customer?
Success rates
Your clients, investors or customers are influenced by the name you choose to give to your business, as it makes a huge difference when it comes to the ultimate success of your overall venture. Studies show that cool and quirky company names occur more frequently in media coverage, either because there’s something newsworthy in the name or because many journalists are more attracted to highlight companies with fun names than mediocre ones.
The simpler the better
When creating a company, you focus on reducing any barrier that might keep your target customers from reaching you. They say, what’s in a name. Well, when it comes to business, name is one of the most important things that matter. A wisely chosen name is simple to spell, easy to write, and leads to one and only one possible URL. This enables more people who’ve heard about it to find it online.
The name is the first thing people get to know about your company. While a good impact of the name might create inquisitiveness or relevance, a bad impact might create lack of vision , details, and creativity about your company. Before you plan a date to launch it, people and your target customers might have already made judgement regarding it.
Also, start-ups whose names or an element in them, strike a chord or connection with the trget customers do not stay away from success from a long time. For example, in the Indian market everybody knows about the importance of #happilyunmarried or #localbanya. Using good logoscan prove a competitive advantage for your company.
Your company’s name affects how people who work for the business feel about it. So, if you haven’t really thought about a name for your company and made all the other arrangements, it’s time you start working on it. After all, there’s a lot in the name.
