Why names matter for your startup

I was reading a really interesting article today about the importance of choosing the right name for your startup business, and let’s be honest about this, there are many entrepreneurs out there who have agonized at length about naming their companies. We look at some of the most successful companies globally and their short, catchy names appeal to us, and it would appeal to the market at large for a reason. Adam Alter, Assistant Professor of Marketing and Psychology at New York University’s Stern School of Business says that companies and brands with simple, easy to pronounce names typically experience greater success than other startups because their names are easy to remember and connect with. The question is, how to get to the same point when it comes to our own companies and brands and finding the right name that will stick with our potential customers and investors - that’s the tricky part. So here are a few guidelines to consider when choosing that perfect name for your startup. Firstly, choose a simple name using one or two syllable words that will be easy to remember and easy to say, one that rolls off the tongue in any language. Secondly, create a memorable and tangible connection between your chosen name and your product or service offering, so that it’s relatable. Thirdly, make sure you get the SEO (search engine optimization) right for your chosen new startup name, after all, if your customers can’t easily find you, then it’s the wrong name. Fourthly, don’t emotionally over invest in your startup name as you never know when you will have to change it along your entrepreneurial journey!