Naming your business is an exciting and inspiring process, however it can also cause stress as many entrepreneurs and startups find out.
When it comes to choosing the right name for your business its easy to fall into common traps or myths that people commonly believe you must follow when going through the naming process.
Its important to keep in mind that your company name is an important investment, it represents your brand and your vision for your company, but essentially will take on a life of its own. This is something you will need to get right as early as possible.
Here are 5 big naming mistakes made By entrepreneurs when naming their business that you will want to dodge.
1 Believing your company name must match your website domain name.
We have seen this a thousand times, entrepreneurs get a great idea for a business, jump in and immediately register a domain name and then use it as their actual business name.
You don’t have to match your company name to your domain and vice versa. You can have a company name that works for the business and a domain that is tailored for your brand or product, its not a necessity that the pair are a mirror match.
For example The Wall Street Journal is online.wsj.com
2 Creating funky names that are gibberish
There has been a rush of ly – .ly domains and company names, but basically most of these are hard to understand or connect any meaning to what they do or provide. Sure they sound cool but what exactly is Quibly, Moistly Attmitedly or Knowley for example? Just use something that helps people know what you do or is easy to understand, its much more helpful than a cool name that will be as out of date as a pager (for those old enough to remember what they were before mobile phones existed) in a few years time.
In this category we are also throwing in train wrecks, which are when startups invent their own words for a company name, a few examples we invented; crapteknoweb, smartrologypants, disasternomics
3 Using weird domain extensions as part of your name
Same as above but honestly is your company smartly or smart.ly? peoples eyes naturally stop when they see and read a full stop or period for our American readers. The same goes for .me, .tv, .cc etc. did you actually know .ly is the country extension for Libya?
4 Using misspelled words
This just causes confusion, are hard to remember and hard to find when typing into the web, and hey guess what… Siri probably wont be able to find it using voice search either!
5 Names that are completely unknown
Don’t get us wrong, we think that most of these startups, businesses and apps are really cool and innovative, but has the silicon valley trend in weird company names, really become a Silly Valley trend? You decide!