A quality startup name reveals your businessNameB
To fully understand why a startup name reveals your business – for whatever it is, below average, good or great -, let’s take a u-turn first. First, instead of talking about the positives of a carefully chosen startup name, I want to make you understand why a bad startup name will hurt you. Sometimes it is much more useful to understand what not to do as opposed to having a fail-safe plan. There is no such thing anyway.
A bad startup name also reveals your business
We are sending a message about ourselves every single day, whether we realize it or not, and whether that message was born as a result of a conscious effort. The same is true about your business. If you are willing to settle on something that is very far from being remarkable, you already ignored a portion of your future customers. You may think that your product or service that you are trying to sell is ultimately more important than its name or your domain’s name, and you may very well be right.
That still doesn’t mean that finding the right name is not imperative. Because really, what does a badly chosen name say about you? Are you not willing to apply yourself? No keen attention to detail there? Maybe a lack of awareness? An average name is not catastrophic, a bad one though? That is something you should always try to avoid. That kind of startup name reveals your business in a way that you are going to want to avoid, period.
The startup name reveals your business – grab the attention of your customers
Conversely, what happens when you have a name that is objectively creative? People will give you the benefit of the doubt. Whether that is fair or not, doesn’t really matter. This is how we function. Even if you are otherwise compromised with a whole lot of problems, your brain will turn off in a second when it sees a quality idea. A good startup name reveals your business to the world.
The startup name reveals your business, you can’t postpone its importance
A fairly regular excuse is the lack of resources. That can mean one of two things: a somewhat limited budget or the unwillingness of putting in the work hours. That’s not to say you are lazy. Most of the time it is about thinking you are better off by putting those hours into the development of the product. I’m not saying this is definitely a false argument. It may very well be legitimate in your case.
With that said, I argue that you should forget this at this very moment, and forget it for good. It should always start with the name and you should always try to find one that will be permanent. Let’s say you want to grow your business first and choose a temporary startup name. In this case, you are probably thinking about buying the “real thing” once you have become successful. I would say, you are likely walking into a trap if that’s the case. I have three arguments for you.
Firstly, as harsh as this sounds, you may not get there without a quality name. Secondly, if you become successful, the domain holder will likely increase the price. And thirdly, if you had become successful, that means your startup name reveals your business, and a lot of people started to associate your product with your domain name. Changing that domain name when you are already successful, could mean losing some – if not a lot – customers. Start out strong and avoid that catch-22 situation altogether.