Choosing the name of your startup is very important because the name is crucial in making or breaking your business. The right startup name can attract customers and investors, leading to the growth of the business, while the wrong one can lead to legal issues and branding challenges.
The first impression that you put on customers and investors is through the name of your startup, as it changes the perception of your business.
While naming startups, there are certain mistakes that entrepreneurs make, which often break the startups and these mistakes can be avoided. So here are common mistakes to avoid while choosing a startup name.
Being Too Literal
Oftentimes being too literal while setting up your startup name is not the right thing to do. Instead of being too literal in setting up the name of your startup, you should be a bit creative and come up with a unique and memorable name that can set your business apart.
If you want to make a lasting impression on potential customers and want them to remember your brand, embrace creativity and craft a unique startup name that can set your business up for long-term success.
Neglecting Global Considerations
When you are naming your startup, it is important that you don’t neglect global implications. There are examples of brands and startups that observed poor sales in certain countries because of ignoring cultural nuances.
While naming your startup, it is important that you use a globally appealing name, particularly in English that can be understood all around the world.
You can also consult with branding experts and linguists from various languages and cultures so that they can better guide you in choosing the right name for your startup.
Not Checking the Domain Availability
Before you finalize the name of your startup, it is necessary that you check the availability of the domain on the web. There are various examples of startups that finalized their names but faced major challenges in acquiring domain names because of unavailability.
Before you finalize the name of your startup, you should conduct thorough research on the internet and ensure that the domain name is available. In case the domain is not available, consider alternative extensions such as .net or .co.
Social Media Availability
Just as the availability of domain names is important, it is also important to check the availability on social media platforms. Securing your startup’s domain and username across various platforms including social media is necessary for consistent branding.
Before you finalize and register the name of your startup, you should check the availability of social media handles and ensure that they are available for more consistent branding and improved recognition, like Monkey. app, a popular online startup.
Skipping Market Research
While naming your startup, one important thing that you would want to neglect or skip is market research. When you make any decision before performing the market research and considering the target audience, you will end up missing the preferences of your audience altogether.
By performing market research, you can gain valuable feedback and insights from the audience that will help you avoid falling into certain pitfalls.
For naming startups, market research is important as it can help you understand the reception of a startup’s name in the audience. Neglecting market research can lead to finalizing a name that is either too passive or too aggressive for the audience.
