The other time we talked about how to name your idea or business, but this time we’ll talk about some specific mistakes to avoid when naming a business!
Ready to dive in those mistakes we specifically gathered for you? If yes, Enjoy!
Mistake #1: Getting the “committee” Involved
True, we do live in a democratic society, and it seems like the right thing to do–to involve everyone (your friends, family, employees and clients) in an important decision. This approach, however, presents a few problems. Let’s be honest here, you can’t name the business several names, and someone is bound to be left alienated when you won’t choose a name that he/she recommended.
So what to do? Do get some people involved, it’s not your one-man show, though we all wish it was, ask those people who you are sure have the best interests in mind for your business!
Mistake #2: Using too plain of a word
Well, if you’re not the first one in the category you won’t be able to get away from it! Hence you have General Motors, General Electric and so on. But let’s be honest here, once you have competition, it requires differentiation. Imagine if Yahoo! had come out as GeneralInternetDirectory.com? Now, that name would have been so much more descriptive but would you be able to remember it? And with the onslaught of new media and advertising channels, it’s more important than ever to carve out your niche by displaying your uniqueness. Nothing does that better than a well-conceived name.
Mistake #3: Taking the Atlas Approach
When you are starting your company, usually you start it in your city, state or region, hence comes an idea to name is after it. But let’s be a bit clairvoyant here and look into future! You might start small, but who knows maybe you’ll go globally and the name won’t be suitable anymore! Just image opening a shop with a name Houston’s Bikes in Nicosia!
Mistake #4: Making the Name too Obscure
Don’t make the name so strange or obscure that no one even you won’t understand it! We know, you want your company’s name to be something special, something significant! But don’t over do it! Really don’t name your business after Greek God just because you liked how it sounds, the name might have a meaning not suitable for your business!
Mistake #5: Taking the Campbell’s Soup Approach
Sometimes a fantastic name comes to us, it goes throught all those tips and avoid all mistakes we mentioned before, but then comes up a problem. The name is taken, domain and someone even snatched instagram from you. Ouch! So, after thinking hard we come up with a solution! oh, let’s just change one letter in the word and it will look catchy and trendy and we’ll be able to remember it! So somehow Pizza becomes Phizza or Fizza or whatever. And we are stuck with something so random we can’t even pronounce it correctly.
Let’s not forget that sometimes names might not mean anything. Take, for example, Xerox or Kodak. But they rely heavily on advertising to convey their meaning–and that gets expensive. Many of the companies that successfully use this approach were either first in their category or have large marketing budgets. Verizon, for instance, spent millions on their rebranding effort. So did Accenture. So check your pocketbook before you check into these types of names.
So let’s put everything together! Choose your name wisely, as the name can bring your business success just from how it is heard! Don’t forget those mistakes that we listed here, but then again you are you and only you can choose something fabulous for your business! SockSeed has all faith in you. And if you have questions for us don’t hesitate to contact us!
SockSeed’s platform can help you with all these tips so do not hesitate to contact us. We know that every beginning looks scary but those tips should help you feel more motivated. If you find value to this post then get ready for many more articles to come written just for you!
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