With so many major factors like Idea, Execution, Funding to take care of, many a times the Startup founders end up deprioritizing one of the defining aspects of starting up: “The Name”. It is your Brand-Name that the people are going to identify with at the first instance. While, good out-of-the-box name can make you the buzzing HashTag online, a bad one can finish what you have just started.
Though naming seems to be a straightforward process but it can be a way more complicated. The reality is there is no easy route, but yes following right guidelines can increase the chances of success substantially. Follow the guidelines below to ensure you haven’t missed anything important and to prevent plagiarism.
In this age, where almost everything ends up being copyrighted, it is more important to stay unique and create a niche for your name in the market. Coined names can be more meaningful than existing words. For instance, “Compaq” has no dictionary definition but the word suggests conciseness just as the company intended with its sleek series of laptops.
Discovering the Source Word
The foundation of your name will be the source word, so the best way to start is to generate a set of words that should be fairly literal and represent a core aspect of your business. This may include the product category (travel, music, fashion) as well as the product function (discovery, sharing).